Malabar Gold plans e-commerce, new store launches

Malabar Gold is extending its line of retail stores, aiming to open 120 outlets by the end of the current fiscal, reports say. It plans to open its 70th showroom in India (which is also its overall 100th showroom), in Gurgaon at the end of September, reports suggest.

The company is also planning store launches in overseas markets, having identified places like Singapore, Sri Lanka, Indonesia, Malaysia and Bangkok, reports suggest. Currently, Malabar Gold has 30 showrooms in GCC countries in the Middle East.

As part of its expansion Malabar Gold has identified going the e-commerce way and tapping niche markets, along with overseas store openings to tackle the present situation of low demand and high costs of gold imports. Part of its e-commerce venture would offer ‘customized lifestyle gold ornaments home delivered’.