Malabar Gold & Diamonds sets up Malabar International Hub (M-IH) at Dubai Gold Souq as its new HQ for worldwide operations

Malabar Gold & Diamonds has unveiled its brand-new global base of international operations, the Malabar International Hub (M-IH), at the Dubai Gold Souq in Deira, Dubai. M-IH was inaugurated by His Excellency Abdulla Bin Touq Al Marri, Cabinet member and UAE minister of Economy, on March 22, 2023. The inauguration was conducted in the presence of the Chairman of Malabar Group, M.P Ahammed, directors, Government officials, distinguished guests, well-wishers, and management team members of Malabar Gold & Diamonds.

Celebrating its 30^th year anniversary, the opening of M-IH marks a momentous landmark for Malabar Gold & Diamonds, which began international operations in 2008 from the UAE.

The 28,000 sq ft LEED gold certified hub, that is located in the heart of Dubai’s gold district, has been designed to be the epicenter of the brand’s current and future business aspirations. Spread across four floors, it houses all functions, from a global centralized supply chain to supporting functions for existing operations in the GCC, USA, Singapore and Malaysia; and set the foundation for the growth aspirations of the group to continue its ambitious expansion plans into countries such as the UK, Australia, Canada, Turkey, Bangladesh, New Zealand and many more.

All supporting and enabling functionalities of the company’s international operations, which was previously decentralized and carried out in each country of operation, has now been brought under a single roof to further streamline the process and increase the overall efficiency of the company’s management. The decision by Malabar Gold & Diamonds to setup their global base in the UAE comes after the signing of CEPA (Common Economic Partnership Agreement) between India and the UAE, a move which opened the gates to a more fruitful and collaborative commercial pathway between the two countries. It is the opportunities presented to the brand by the signing of CEPA that directly led to the concept of the M-IH.

Chairman of Malabar Group, M.P Ahammed commented, “With the establishment of M-IH in Dubai, Malabar Gold & Diamonds has taken one step closer to our dream of being the biggest jewellery retailer in the world. The new facility is all set to be the stepping stone of our Vision 2030 goal of scaling up our operations to conquer new markets and strengthen our presence in existing markets. I would like to take this opportunity to express my immense gratitude to our stakeholders – customers, employees, associates, shareholders, and authorities who stood with us through thick and thin and contributed towards propelling the brand to new heights.”

Speaking on the occasion, Shamlal Ahamed, Managing Director-International operations, Malabar Gold & Diamonds said, “The launch of Malabar International Hub is indeed a historic occasion for Malabar Gold & Diamonds.  It is also a moment of added pride and joy that this inauguration coincided with our brand’s 30^th anniversary. It has always been our experience that the UAE provides one of the best ecosystems for a business to flourish and this has only been strengthened manifold by the signing of CEPA between India and the UAE. The removal of import duty through the CEPA will help us in using that to add new international markets as well as improve our retail presence in current markets such as the US. With the opening of our new global base in the UAE, all our existing international operations including the US and Far East will be managed from Dubai. Considering the instrumental role that our chief guest, HE Abdulla Bin Touq Al Marri and his team played in getting the historic agreement implemented, it was both a symbolic and auspicious gesture to have him open the doors of our new global hub for us.”

“The state-of-the-art facility has been designed considering the needs and requirements of all the various elements that keep our operations afloat, with special consideration given to the comfort of our employees. We earnestly look forward to closely working with the UAE government and other key stakeholders to further our reach in the international jewellery trade and thereby be a key partner in enhancing Dubai’s status as the City of Gold,” said Abdul Salam K.P, Vice Chairman of Malabar Group.

In strict adherence to Malabar Gold & Diamonds’ commitment towards ESG (Environmental, Social & Governance) guidelines, various environmental and sustainable initiatives have been incorporated in the building’s designs and the facility is in the process of getting its LEED Gold certification.

Malabar Gold & Diamonds was established in 1993 and is the flagship company of Malabar Group, a leading diversified Indian business conglomerate. With an annual turnover of $4.1 billion, the company currently ranks as the 6^th largest jewellery retailer globally and today has a strong retail network of over 310 outlets spread across 10 countries.

Courtesy: Retail Jeweller World News