Indo-Saudi economic ties get a major boost as Malabar opens its largest jewellery showroom in Riyadh

RIYADH: Indo-Saudi relations got a major boost following the opening of the largest jewellery showroom by India’s Malabar Gold & Diamond Group in Riyadh recently. The opening of this largest iconic showroom on the posh Olaya street in the Saudi capital city is part of an ambitious plan of Malabar Group to invest Rs5000 crores to drive its future business growth locally and globally.

The new 8500 square feet showroom with direct street access and visibility in the city center of Riyadh is now the largest Malabar outlet in Saudi Arabia, offering over 50,000 jewellery designs curated from 30 countries, a customer lounge, and an ample parking area. This high-value showroom is a major business initiative of Malabar Group, which has its headquarters in Kozhikode (Calicut), a coastal city in the south Indian state of Kerala.

This was disclosed by Gaffoor E, Regional Director of Malabar Group, in Saudi Arabia, while giving an overview of the new showroom and the details of the Malabar Group’s presence in the Kingdom and the Gulf region. Gaffoor said that “the people in Saudi Arabia have a discerning eye for fashion, luxury, jewellery, and quality; and as Malabar opens its largest boutique in Riyadh, we are ready to deliver more than the expectations for every customer.”

With an exclusive collection of 18K, 22K gold, diamond, and precious gem jewellery, the new showroom also has a bespoke jewellery design facility that enables discerning jewellery lovers to bring to life their own designs. The portfolio of designs at our new showroom is wide-ranging, with pieces suited for bridal wear, occasional wear, and daily wear. The designs are available across Malabar Gold & Diamonds’ exclusive brands and collections such as Mine-Diamond jewellery, Era-uncut diamond jewellery, Precia-Precious gem jewellery, Ethnix-Handcrafted designer jewellery, Viraaz-Royal polki jewellery, and Zoul-18K lifestyle jewellery.

Asked abou the presence of Malabar Group in Saudi Arabia and GCC, Gaffoor said that “Malabar Gold & Diamonds has a total of 17 world class showrooms across the Kingdom including five showrooms in Jeddh, four in Riyadh, four in Dammam, two in Jubail, and one each in Al Khobar and Al Ahsa.” “This also includes our Mojawhraty showroom, the latest retail concept from Malabar catering exclusively to a global Arab audience, at Nakheel mall, in Dammam,” he added.

Moreover, Malabar Group has a robust footprint globally. “In line with our aim of becoming the world’s number one jewellery retailer, we have charted an ambitious expansion plan, which involves expanding our presence to new territories and strengthening our presence in existing regions by opening more showrooms,” said the regional director Gaffoor, while referring to cutomer satisfaction and trustworthy shopping experience as the prime mottos of Galabar Group.

Gaffoor said: “At Malabar Gold & Diamonds, we pride ourselves on delivering a seamless and transparent shopping experience, backed by the Malabar Promise, which includes 100 percent value on gold and diamond exchange, complete transparency, assured lifetime maintenance across all our 400 showrooms, exclusive usage of tested and certified diamonds, hallmarked gold, and guaranteed buyback.” “With these promises, customers can shop with confidence, knowing they receive nothing less than the highest quality and care,” he added.
He further explained that the Malabar jewellery is crafted using responsibly sourced materials, including 18K and 22K gold, natural diamonds, and precious gemstones. The company only uses bullion bars accredited by the London Bullion Market Association (LBMA) or Good Delivery Bars, ensuring that the gold we use can be tracked from its origin to our showrooms. These accredited bullion follows the five-step due diligence framework set out in the OECD Guidance and ensures that gold is mined, safeguarding the environment.

Gaffoor pointed out that “all the diamonds Malabar Group uses are sourced in accordance with the Kimberly Process Certification to prevent the trade of conflict diamonds, promoting accountability and ethical sourcing practices to help protect legitimate diamond businesses”. he said that gold is a unique, time-tested asset that offers both stability and long-term value appreciation, making it an ideal investment for everyone. Unlike other investments, gold is tangible, highly liquid, and serves as a safe haven during economic uncertainties.

The Malabar showrooms have reported substantial footfalls across the Kingdom and the Gulf states, with a surge reported in the jewellery market of the region. To this end, it is important to note that the Saudi gold market is estimated to be around SR37–45 billion annually and is projected to grow to SR56 billion by 2030. The diamond market is valued at about SR7.5–11 billion annually and is expected to reach SR15 billion by 2030. These projections reflect the robust demand and increasing interest in luxury jewellery across the Kingdom.

Malabar Group is one of the fastest-growing business conglomerates in the world with an annual turnover of USD7.5 billion and a size of over 25,000 management team members worldwide. Integrating the principles of responsibility and sustainability into its core business, Malabar Group periodically strengthens its ESG goals to remain a socially conscious and responsible organization and contributes five of its profit to such initiatives in the respective country of operation.

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