Malabar Gold began in 1993 as a small shop in Kerala and now has over 260 outlets spread across 10 countries, 14 wholesale units in addition to offices, design centres and factories spread across India, Middle East & Far East. The company also has an annual turnover of $4.51bn.
Ahamed is the managing director of international operations and is also the son of M.P. Ahammed, the founder of Malabar Gold.
The compant will open 56 stores in financial year 2021-22 – 40 in India and 16 overseas, at an estimated investment of $220m, which is expected to generate 1,750 new jobs.
In India, the expansion will span Tamil Nadu, Telangana, Andhra Pradesh, Karnataka, Maharashtra, Delhi, West Bengal, Uttar Pradesh, Odisha and Kerala, and globally, new outlets will open in Singapore, Malaysia, Oman, Qatar, Bahrain and the UAE.
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