(MENAFN- The Peninsula) The Peninsula
Malabar Gold & Diamonds, the 6th largest jewellery retailer globally with an extensive retail network of over 310 outlets across 10 countries in India, the GCC, Far East and the USA, has unveiled their brand-new global base of international operations, the Malabar International Hub (M-IH) at Dubai Gold Souq in Deira, Dubai.
M-IH was launched by Cabinet member and UAE minister of economy H E Abdulla Bin Touq Al Marri on March 22. The inauguration was conducted in the presence of Chairman, directors, Government officials, distinguished guests, well-wishers, and management team members of Malabar Gold & Diamonds.
Marking its 30th year anniversary, the opening of M-IH marks a momentous landmark for Malabar Gold & Diamonds, which began their international operations in 2008 from the UAE.The 28,000 sq ft LEED Gold Certified hub, that is located in the heart of Dubai's gold district has been designed to be the epicenter of the brand's current and future business aspirations. Spread across 4 floors, houses all functions, from a global centralised supply chain to all enabling and supporting functions for existing operations in GCC, USA, Singapore, Malaysia; and set the foundation for the growth aspirations of the group to continue its ambitious expansion plans into countries such as the UK, Australia, Canada, Turkey, Bangladesh, New Zealand and many more.All supporting and enabling functionalities of the company's international operations, which was previously decentralized and carried out in each country of operations, has now been brought under a single roof to further streamline the process and increase the overall efficiency of the company's management. The decision by the company to setup their global base in the UAE, comes under the wake of CEPA (Common Economic Partnership Agreement) signing between India and the UAE, a move which opened the gates to a more fruitful and collaborative commercial pathway between the two countries. It is the opportunities presented to the brand by the signing of CEPA that directly led to the concept of the M-IH.
MENAFN28032023000063011010ID1105878815
Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.