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Malabar Gold unfurls a $700 Million 4-Year Global Expansion plan to achieve an Annual Turnover of $6 Billion by 2015Â Â by Atul
Malabar Gold unfurls a $700 Million 4-Year Global Expansion plan to achieve an Annual Turnover of $6 Billion by 2015
Unveils a new contemporary identity designed to appeal to a more diverse, young audience
Key components of the four year expansion plan
• To be the world's leading jewellery brand
• Establish 220 outlets across the globe
• Touch $6 billion (Rs 300 billion) annual turnover
• Invest $700 million (Rs 35 billion) on expanding the network
• Create 15,000 additional jobs
• Invest $100 (Rs 5 billion) million in brand and marketing initiatives
• Partner with IIM Kozhikode to
o Build a talent base to support the expansion programme
o CSR initiative to actively propagate education
Dubai: Malabar Gold, a leading gold and diamond jewellery player in South India and the Middle East, today announced a four-year expansion plan that will eventually raise the company's retail network to 220 outlets from the existing 64, with an investment outlay of more than Rs. 35 billion. This ambitious programme will create 15,000 jobs and triple Malabar Gold's annual turnover to Rs. 300 billion (about $6 billion), making it the world's leading jewellery brand.
As a first step towards achieving the set milestones, Mr. MP Ahamed, Chairman of Malabar Group of Companies, launched a new identity at a press conference today. The new identity has been rechristened as "Malabar Gold & Diamonds" foreseeing the growth in diamonds jewellery sector and incorporates a contemporary look and feel, to appeal to a globally diverse clientele. This was done in association with The Brand Union Middle East, a world-class, global brand agency with 35 years' experience, having over 20 offices worldwide, and is part of the WPP Group. The brand strategy and identity was developed over a 15 month period during which extensive research, discussions and analysis were conducted globally.
Announcing the re-branding and aggressive expansion plans at a Press Conference Mr. MP Ahamed, Chairman of Malabar Group of Companies, said, "Malabar Gold & Diamonds, in its endeavour to become the world's leading retailer in value appreciating gift articles, is undergoing a brand transformation to blend with its future business vision. The objective of the overall re-branding and expansion programme is to raise the international profile of Malabar Gold & Diamonds in line with being the world's biggest and most valuable jewellery brand within the next few years." He further added, "We are undertaking this change to help scale our brand to greater heights and to better serve our discerning customers."
For customers, the new Malabar Gold & Diamonds will remain grounded, accessible and prestigious, offering the best value for money as before, but with a service and product offering that's relevant to today's global tastes.
As part of the ambitious plan, the company is investing about $100 million (Rs. 5 billion) to roll out more than 20 retail outlets in 2012 itself. This will raise the number of retail outlets in various parts of the GCC and India, to 84 outlets.
Malabar Gold & Diamonds, whose annual turnover last year exceeded $2.4 billion (Rs. 120 billion), is currently ranked as the third largest jewellery retailer in the world in terms of business figures, after Hong Kong-based CTF and Tiffany & Co.
Four - year Expansion Programme
The company's four-year expansion programme will see Malabar Gold & Diamonds' global footprint expand to South Asia, other parts of Middle East, Far East, Europe and the Americas and nearly triple its cluster manufacturing units to 10 from the existing four. Besides this, the company also plans to strengthen the brand's presence and offerings in the existing markets of India and Middle East and grow this segment by 15-25 percent.
Apart from the existing sub brands namely Era - uncut diamond jewellery, Ethnix - hand crafted designer jewellery, Divine- Indian heritage jewellery, Mine - diamonds unlimited, Precia - precious gem jewellery and Starlet - kids' jewellery; the group is actively initiating the development of new brands to cater to discerning and varied global customer preferences. Foreseeing the increasing demand in diamond jewellery sector, the group has entered into a joint venture with Mahendra brothers- a leading DTC site holder, to form the brand 'Mine' - an exclusive offering in diamonds that will create unique products for customers.
Malabar Group has partnered with IIM Kozhikode, initiating a program to develop a capable talent base for successfully carrying forth the expansion plan. This is part of a CSR programme to actively propagate education by conducting various workshops for teachers and recognizing talents in the field of education. Dr. Ibrahim Haji, Co-Chairman of Malabar Group of Companies said "The group has always been a front runner in its CSR initiatives and the association with IIM Kozhikode reaffirms our long term commitment to the cause and to contribute back to the society".
Brand and Marketing Initiatives
Malabar Gold and Diamonds is through these activities, pursuing a massive brand and marketing initiative to accomplish its global brand and business vision.
Mr. Shamlal Ahmed MP, Group Executive Director of Malabar Gold & Diamonds said, "We see a huge growth potential in the near future. To capture a substantial market share and to make the brand more visible and accepted globally, Malabar Gold and Diamonds will be spending $100 million (Rs 5 billion) over the next 4 years. "
Re-Branding Exercise:
Various celebrated dignitaries were present at the gala event in Dubai along with the presence of Malabar Gold's brand ambassadors, Ms Hema Malini and Mr. Mohanlal.
• The new brand promise is 'Celebrate the Beauty of Life' i.e. to celebrate and be an integral part of celebrations that makes life beautiful and worth cherishing.
• The new brand positioning is to be the 'Champions of Contemporary Tradition' i.e. a brand proud of its Indian beginnings and using these 5000 year old traditions in jewellery making, to craft beautiful pieces of jewellery or value appreciating gift articles, that are relevant to today's audience tastes. With this, Malabar Gold & Diamonds is trying to bring together the best of both worlds - traditional and contemporary.
Brand Endorsers:
• The dream girl of Indian cinema, Hema Malini was appointed as brand ambassador in 2006. Her undying passion, zest for life and the eternal search for perfection makes her the ideal ambassador for Malabar Gold & Diamonds.
• Superstar Mohanlal - is the torch bearer of Malabar Gold & Diamonds. He has been the company's guide and spokesperson for the last 8 years and played a vital role in elevating the brand to its present level.
• Other noted personalities associated with Malabar Gold & Diamonds include Telugu Cine Star Junior NTR and Music Maestro Ilaiya Raja.
For Further Information please contact:
Atul Malikram
9827092823
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