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FINANCIAL NEWS
India’s Malabar eyes expansion in GCC markets
26 Sep 2010
(MENAFN) Malabar Gold, one of India�s largest jewellers, announced that it will open five more retail outlets and a manufacturing unit in Oman, local media reported.
By 2015, Malabar wants to be the leader in terms of volume-wise, in terms of a retail presence and in the market share, the company�s chairman MP Ahamed told the Times of Oman.
The retailer opened its 40th outlet at the Lulu Hypermarket in Baushar. Its third showroom will soon open in Salalah, the paper said.
Shamlal Ahamed, managing director of international operations told the paper new stores in Bahrain and Kuwait will also open next month. The company also has plans to open in Saudi Arabia and Qatar.
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