Malabar Gold to open its second showroom in Bangalore

Bangalore, Sep 10 (UNI) Malabar Gold, the flagship division of Malabar Group of Companies, is investing Rs 500 crore in next two years to expand its operations in India and Gulf countries.

Announcing this to newsmen here Malabar Gold Managing Director O Asher said Rs 200 crore would be spent on opening 12 new showrooms across the country including in Coimbatore, Chennai, Salem, Erode and Mysore during next year, while remaining Rs 300 crore would be spent on establishing similar showrooms in Gulf Countries such as Kuwait and Bahrain. The group already had a showroom in Dubai, he added saying the division had crossed gold business of Rs 1000 crore.

Replying to a question he said showrooms would also be opened in Trivandrum and Kottayam and places have already been decided in this regard.

He said brand ambassador and noted Hindi film actress Hema Malini would inaugurate the second showroom in the city, the 17th in South India, on September 12. The new showroom would display an extensive collection of traditional and designer bridal jewellery, besides a vast range of party wear, work wear and traditional jewellery. It also had a stunning collection of platinum and diamond jewellery and premium branded international watches to cater to the needs of a cosmopolitan and a burgeoning city. The bridal collection comprised designs from Kerala, Karnatkaa, Tamil Nadu, West Bengal and also from overseas such as Italy, Singapore and Bahrain.

He said all jewellery sold by the company were bar-coded comprising details such as weight of the gold, stone and gem and making charges. As a step to protect the interests of customers, all jewellery would be given one year free insurance coverage for gold jewellery against theft, burglary and fire and lifelong free maintenance and buy back gurantee, he explained.

UNI