Malabar Gold & Diamonds, the world’s sixth largest jewellery retailer, opened its second UK showroom in Leicester on Thursday, marking a major milestone in its expansion plans for the region.
The 2,000 sq ft store, located on the Golden Mile off Belgrave Road, was opened by Leicester Mayor Peter Soulsby. It features more than 20,000 jewellery designs from 20 countries, catering to a range of clothing categories including wedding dresses and business attire, the company said in a statement.
Malabar Gold, which operates 350 showrooms in 13 countries, entered the UK market a year ago with its first store in London.
“We have ambitious expansion plans in the UK and Europe region with immediate openings planned in Southall and Wembley in London, as well as Birmingham and Manchester,” Shamlal Ahamed, managing director of international operations at Malabar Gold & Diamonds, said in a statement.
The company aims to capitalise on the UK’s vibrant Indian subcontinent community, which appreciates handcrafted Indian jewellery, Ahamed added.
Malabar Gold’s expansion strategy includes strengthening its presence in existing markets and entering new countries such as South Africa, Egypt, Bangladesh, Turkey and New Zealand.
The retailer focuses on responsible sourcing, using London Bullion Market Association (LBMA) certified bars and conflict-free diamonds. It also dedicates 5% of its net profits to environmental, social and governance (ESG) initiatives in each country where it operates.