Malabar Gold opens global hub in Dubai

Malabar Gold opens global hub in Dubai

Jewellery retailer primes for new market forays

Abdullah bin Touq Al Marri, the UAE Minister of Economy, inaugurates the hub in the presence of senior officials. - Supplied photo

Published: Wed 22 Mar 2023, 7:42 PM

Malabar Gold & Diamonds on Wednesday opened its international hub in Dubai Gold Souk as the world’s sixth-largest gold jewellery retailer primes for new market forays aimed at achieving annual revenues of Dh10 billion for its global operations by 2024.

Abdullah bin Touq Al Marri, the UAE Minister of Economy, witnessed the opening of the four-storied international headquarters spread over 28,000 square feet.

M.P Ahammed, chairman of the $5.2 billion Malabar Group, said the milestone opening of the international hub has taken the company one step closer to its vision of becoming the biggest gold jewellery retailer in the world. At present, the jewellery group’s retail network comprises more than 310 outlets across 10 markets in India, the GCC, the Far East and the USA.

“Our commitment to the highest standards of quality, precision and customer service has established our position as one of the leading brand names in the industry in less than 30 years,” said Ahammed.

Shamlal Ahamed M.P, managing director, international operations at Malabar Gold & Diamonds, said