Malabar Gold shortly in Coimbatore
Malabar Gold will invest Rs 500 crore in the next two years for opening new showrooms in India and abroad, an official said on Monday. The Malabar Crystals and Diamonds, the jewellery wing of Malabar Group of Companies, will be opening showrooms in Kuwait, Bahrain and Muscat in the Gulf, and Northern states of India, its Managing Director O Asher said here. "The group plans to open 12 showrooms in 2008," he said after announcing the opening of its showroom with Rs 11 crore investment at Jayanagar scheduled on September 12, its second in the state of Karnataka, the other already functioning in Mangalore. "Bangalore will have another within a year's time," he said. With this, Malabar Gold will have its third outlet in the state.The Jewellery wing, whose turnover has crossed Rs 1,000 crore, will be opening its outlets in Kottayam, where it plans to construct a shopping complex, in Thiruvanathapuram and in Tamil Nadu's Coimbatore, Chennai, Salem and Erode, Asher said. At the new showroom, it will showcase bridal collections with designs from Kerala, Karnataka, Tamil Nadu, and West Bengal and also from Italy, Singapore, Bahrain. The company has a diamond jewellery setting unit in the city, apart from showrooms, which also feature international brands of premium watches--Tissot, Esirit, Citizen and Seiko.
