(MENAFN- Khaleej Times) Malabar Gold, India’s fastest-growing Jewellery chain, is set to open its first outlet in the Kingdom of Bahrain, and the state-of-the-art, modern outlet will be situated at Gold City Manama.
The investment of the Group in their first outlet here is BD1 million, with a total investment of $25 million being planned in the first phase in Bahrain.
The inauguration of the outlet was done by the Ambassador of Malabar Gold and South Indian film star Padamsree Mohan Lal in the presence of dignitaries from all walks of life.
Malabar Gold, the flagship division of a leading business conglomerate Malabar Group of Companies, headquartered in India with 28 gold retail outlets, has already spread their wings in the Gulf markets through their 13 retail outlets, and one wholesale division based in Dubai Gold souk.
Their first venture in the Gulf was marked with the opening of a wholesale operation in the famous Gold Souk in Dubai in the year 2008. Now the group has 10 retail outlets in the UAE, one in Saudi Arabia and two in Sultanate of Oman. The Group is taking the name to other Gulf markets like Doha and Kuwait very soon
The Group’s plan in the Kingdom of Bahrain is multi-faceted. They have plans to add three more retail outlets in different part of Bahrain. Also, they are planning a Jewellery manufacturing unit in the Kingdom, with a wholesale distribution centre.
The Group is relying on the fact there is an established jewellery manufacturing industry in the Kingdom. They may plan their set up in Bahrain to feed their network whole of the Middle East. Also they are foreseeing an opportunity for marketing the Bahraini designs in their home market of India.
The Group is planning to have qualified Bahraini nationals in all the above ventures. As the industry is established in the country, they are confident that they can recruit young Bahraini nationals in all areas of industry including manufacturing and retail sales. The group is in discussion with a local training institute M/s.Baisan Institute of Hospitality and Retail Management to train Bahraini nationals in jewellery designing and retail management.
Malabar Gold is also planning to launch a new brand of jewellery collection highlighting the Arabian heritage. This will add to their already existing collections such as Devine â€" an Indian heritage collection, Ethnix â€" hand-crafted Indian jewellery, Era â€" the uncut diamond jewellery featuring designs from Mugal era, Mine â€" the diamonds unlimited, and Starlet â€" an exclusive child-friendly jewellery collection for the little ones.
Along with their International operations, the Group is also expanding in their home market in India. Malabar Gold, which recorded a turnover of more than $1 billion in the previous year, is poised to grow by almost 20 per cent in the current year.
The Group is also planning to take the brand into other international markets such as the Far East, Europe and America in the near future.
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