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Malabar Gold & Diamonds opens modern integrated complex, Retail News, ET Retail

by TopBusinessView

Malabar Gold & Diamonds opens modern integrated complex

Gold and diamond retail chain major Malabar Gold & Diamonds on Saturday opened its modern integrated complex consisting jewellery manufacturing unit and design studio at Kakkancherry, Kerala. Chief minister of Kerala Pinarayi Vijayan inaugurated the state-of-the-art complex set up at a cost of Rs 250 crore.

Located at Kinfra Park, Kakkancherry in Malappuram district, the integrated jewellery unit has been set up at a sprawling area of 1.75 lakh sq. ft with an investment of Rs.250 crore. The unit is equipped with the latest technologies and facilities to ensure enhanced design and manufacturing output. The integrated facility also boasts of innovative modern technology to maintain zero-level of pollution and environment sustainability.

Around 600 people are currently employed in different divisions of the Kakkancherry facility. Once fully operational, the facility will offer employment to 1000 people including 250 women professionals. The facility has secured all necessary approvals from the concerned agencies including the State Pollution Control Board. It has also been certified by the National Environmental Engineering Research Institute (NEERI) of the Government of India.

The launch of the Kakkancherry facility marks the beginning of the year-long celebration of 30th anniversary of the Malabar Group which was set up in Kozhikode by a group of entrepreneurs and went on to become one of the largest jewellery chains of the world.

Commenting on the inauguration, M P Ahammed, Chairman, Malabar Group said, “In line with the vision and the Group motto `Make in India, Market to the World’, we have set up the integrated jewellery unit at Kakkancherry. It’s the most modern jewellery manufacturing unit in India with the latest technologies and facilities.As we are on a mission to reintroduce inimitable Indian jewellery craftsmanship to India and across the world, the new facility will help us offer new design innovations to our customers, further enhance our design narrative and further elevate our design leadership in India and around the world.”

While inaugurating the facility, the Kerala CM lauded Malabar for its CSR initiatives and contributions to improve the industrial climate of the State. “There are many issues in the gold sector related to taxes. However, Malabar always stands apart from others and pay the taxes fully to support the state. This should be an inspiration to small and big business establishments,” he said.

Malabar Gold & Diamonds currently has 307 showrooms and 14 manufacturing units spread across India and abroad.

While generating reasonable profits, the Malabar Group aims to create maximum employment opportunities. Currently, it has over 20,000 employees.

The Malabar Group has showrooms in India, the UAE, Bahrain, Kuwait, Malaysia, Oman, Qatar, Saudi Arabia, Singapore and the US. Plans are afoot to extend the footprint further to the UK, Bangladesh, Australia, Canada, Egypt, Turkey and South Africa. Dubai International Hub of the Group is currently managing international operations. The domestic operations are handled by the Mumbai hub of the Group which has been set up recently. The formal inauguration of the hub is scheduled in March 2023.

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