Malabar Gold plans Rs1k-cr investment in Maha

Hyderabad: Malabar Gold & Diamonds, the sixth largest jewellery retailer globally with over 330 outlets across 11 countries, will invest Rs 1,000 crore and generate 4,000 jobs in Maharashtra by FY 2024-25. The announcement came during the launch of Malabar National Hub (M-NH) its centralised base of India operations in Mumbai.

The state-of-the-art facility was inaugurated by Devendra Fadnavis, Deputy Chief Minister of Maharashtra in the presence of MP Ahammed, Chairman, Malabar Group, and others. Spread over 50,000 sq ft, M-NH brings under one roof Malabar Gold & Diamonds’ multiple operations such as retail, procurement and supply chain, e-commerce, digital gold, digital marketing and omnichannel operations. The company has deployed more than 450 employees to run the operations at M-NH.