New Delhi: Malabar Gold & Diamonds, the sixth biggest jewelry retailer globally, inaugurated its second store in Leicester, UK on Thursday, showcasing a notable stride in its growth strategy for the area. Leicester City Mayor Peter Soulsby opened the 2,000-square-foot store on Belgrave Road's Golden Mile. The company stated that it displays more than 20,000 jewelry designs from 20 different countries, covering a range of wear categories such as bridal and office.
A year ago, Malabar Gold opened its first store in London as it expanded into the UK market, adding to its network of 350 showrooms in 13 countries. "Shamlal Ahamed, Managing Director of International Operations at Malabar Gold & Diamonds, stated that there are ambitious expansion plans in the UK & Europe region, including upcoming openings in Southall and Wembley in London, as well as Birmingham and Manchester."
Ahamed stated that the company hopes to take advantage of the lively Indian sub-continent community in the UK that values handcrafted Indian jewellery. Malabar Gold's strategy for growth involves increasing its position in current markets and venturing into new countries like South Africa, Egypt, Bangladesh, Turkey, and New Zealand.
The retailer focuses on responsible sourcing by using LBMA-certified bullion and conflict-free diamonds. It goes on to dedicate 5 per cent of its net profits to Environmental, Social, and Governance (ESG) projects in every country where it operates.
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