Malabar Gold opens 400th store; eyes Rs 78,000 cr revenue this fiscal

New Delhi, Jun 23 (PTI) Malabar Gold & Diamonds on Monday said it opened 400th showroom in Noida, Uttar Pradesh, marking a milestone in the company's aggressive expansion strategy.

The Kerala-based retailer, which currently operates across 13 countries with a turnover of Rs 63,000 crore, aims to boost revenue to Rs 78,000 crore and open 60 new stores in the current financial year ending March 2026.

The company plans to expand its presence to 15 countries and cover 22 Indian states and three Union Territories, up from its current footprint. Malabar also intends to grow its workforce to 27,250 management team members globally.

"This milestone is a testament to our growth ambitions and marks a significant step in our ever-expanding footprint across India and globally in the journey to be the No. 1 global jewellery retailer," its Chairman M P Ahammed said in a statement.

The company has committed to investing over Rs 50,000 crore to drive growth through new showrooms and manufacturing units.

Asher O, its Managing Director for India Operations, said the domestic market remains the company's biggest opportunity. "We have clear plans in place to continue the growth momentum," he said. PTI LUX LUX SHW