Malabar Gold enters Bihar, to open new store in Patna on Sept 191 min read . Updated: 16 Sep 2020, 06:05 PM IST
'The store in Patna will help us further expand our presence in eastern India,' Malabar group chairman M.P. Ahammed said
NEW DELHI : Kerala-based Malabar Gold and Diamonds on Wednesday announced its entry in Bihar and said the company will open a new store in Patna virtually on September 19.
This is the first virtual launch of a store during the COVID-19 pandemic and is part of the company's vision to strengthen its retail presence in eastern India, it said.
Brand ambassador Bollywood actor Anil Kapoor will grace the launch.
"The store in Patna will help us further expand our presence in eastern India," Malabar Group Chairman M P Ahammed said in a statement.
He said the retail expansion is part of the company's plan to become the No. 1 gold retail brand in the world in terms of both showroom count and sales.
"So, we have planned to triple the number of showrooms in the next five years," he added.
The jewellery retail chain offers exquisitely designed gold jewellery for all occasions across age groups.
Currently, Kerala-based Malabar Gold and Diamonds has over 260 showrooms spread over 10 states with its annual turnover touching about ₹30,000 crore.