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RJ Market Watch

ASHER O – MD, INDIAN OPERATIONS MALABAR GOLD & DIAMONDS WINS THE MD OF THE YEAR FOR FASTEST GROWING BRAND

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Malabar Gold and Diamonds is a force to reckon with in the Indian jewellery scene. Led by the vision of Asher O, the brand launched in 1993, at Calicut in Kerala. As a new entrant, the brand first targeted and completed its expansion within the state in a span of almost ten years.

Compared to that, in the last decade, the brand has opened more than 220 stores in 10 countries, with half of them in the Indian market. From its presence in 39 cities a decade ago, the brand has expanded to 111 cities across India. During the same period, it expanded to 9 countries outside India.

The brand’s retail expansion is a part of its larger strategy to further strengthen its retail footprint in the territories where it has a strong presence and foray into new markets with differentiated services and product offerings. The brand is gearing up in a big way to cater to underserved markets with new standards of customer comfort and convenience.

The group has also recently forayed into the responsibly sourced gold bullion trade and its gold bars are available for jewellery manufacturers, small gold traders and retail investors desiring to invest in physical gold for purchase. Among the highlights of the past year for the brand was the ‘One India One Gold Rate’ initiative of the brand under which it began offering gold jewellery at a uniform price across the country. The brand also opened 16 stores in 2020 demonstrating its commitment to customers who have believed in the brand in spite of widespread retail disruption owing to the Covid-19 pandemic. It also plans to continue its international expansion in new markets in South East Asia, North America, Africa and Bangladesh.

The group’s growing market share is marked by strong principles of creating value for consumers by way of offering a vast design choice, pricing the products competitively and assuring the highest quality. Asher attributes the success of the brand across diverse markets to the brand’s methodical approach to assessing market opportunities. The brand relies heavily on market research and data analytics to get a pulse of the consumer and set a strategy to cater to them. It is also adopting cutting-edge technology to realize its ambition of global expansion by opening 750 stores and serving its customers better.

Courtesy: Retail Jeweller India

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