Malabar Gold to expand Gulf business

Kochi, Apr 26: Kerala-based Malabar Gold is expanding its presence in the Middle-East and is going to open a new branch at Dubai next month and six more in the region within a year, company chairman M P Ahamed said today.

Addressing a press conference to announce the opening of the group's 14th showroom, at Kochi, on April 29, Mr Ahamed said the 10,000 sq. ft. showroom would be opened by film star Mohanlal.

Talking of Malabar Gold's expansion plans, he said the company would increase the number of showrooms in India to 20 by the end of this year. New shorooms would be opened in the southern cities of Bangalore, Mysore, Thiruvananthapuram, Coimbatore, Kottayam and Kollam, he said.

The new overseas branches would include Dubai, Saudi Arabia and Qatar.

The showroom in Kochi would offer ten international brands of premium watches such as Rado, Citizen and Omega besides traditional and designer bridal collection, office wear and party wear.

The company would also offer free insurance cover against theft, burglary and fire for one year on gold jewellery.

Malabar Gold is the flagship company of the Rs 800 crore Malabar Group, which has interests in the construction business.

UNI