Malabar Gold & Diamonds Makes History as the First Indian Jewellery Brand to Set Up Shop in Australia, Unveils New Sydney Showroom

• The first outlet of the brand was opened in Harris Park within the Little India Precinct of Sydney

• Inaugurated by renowned Australian cricketer, Bret Lee.

• The new outlet will be the largest jewellery showroom in Sydney.

• Extensive collection of 18K, 22K Gold, Diamond and precious gem jewellery along with customized jewellery designing facility.

Scripting history as the first Indian International jewellery brand to begin operations in Australia, Malabar Gold & Diamonds, the 6^th largest jewellery retailer globally, has launched their new showroom in Australia at Sydney. The showroom marks Malabar Gold & Diamonds' expansion into the 13^th country of operations. Currently, the brand has an extensive retail presence of over 340 showrooms spread across India, UAE, Qatar, Kuwait, Oman, KSA, Bahrain, Singapore, Malaysia, the USA, the UK, Canada & Australia.

The showroom was inaugurated by Australian cricketer Brett Lee in the presence of Mr. Shamlal Ahamed, MD - International Operations, Malabar Gold & Diamonds, and other dignitaries

The new showroom was inaugurated by renowned Australian Cricketer Brett Lee in the presence of Mr. Shamlal Ahamed, MD - International Operations, Malabar Gold & Diamonds, Mr. Asher O, MD-India Operations, Malabar Gold & Diamonds, Mr. Ajith M, Regional Head - Far East & Australasia, Malabar Gold & Diamonds; Mr. Ameer CMC, Head of Finance & Admin, Malabar Gold & Diamonds; Mr. Faisal A.K, Head of Manufacturing, Malabar Gold & Diamonds; Mr. Shaji Kakkodi, Chief Digital Officer, Malabar Group; representatives from the Sydney government, other senior management team members from Malabar Gold & Diamonds, customers & well-wishers.

Commenting on the occasion, Malabar Group Chairman, M.P Ahammed said, "This is a proud moment for us as the first Indian International jewellery retailer to begin operations in Australia. We have been a strong proponent of 'Make in India; Market to the World', showcasing the artistry of Indian jewellery on a global stage and expanding into Australia is another testimony of our commitment to this initiative. This is also a great success story leveraging the strong trade relationship and recent bi-lateral free trade agreement between Australia & India. Our growth plan in Australia will lead to significant investments into Jobs & local Economy in Australia over the next few years. On behalf of Malabar Group, I would like to thank all our customers, management team members, shareholders, and other stakeholders for their invaluable contribution towards helping us craft this historic moment and move one step closer towards our goal of being crowned as the world's no. 1 jewellery retailer."

Located at 109 Wigram Street in Harris Park within the Little India Precinct, Malabar Gold & Diamonds' new outlet will be the largest jewellery showroom in Sydney. With an extensive collection of jewellery in 18K, 22K gold and diamonds, the showroom will showcase over 30,000 designs across bridal wear, daily wear & and occasional wear. Malabar Gold & Diamonds has also facilitated a customized jewellery design facility at their showroom, enabling jewellery enthusiasts in the region to bring to life their jewellery design assisted by expert designers & craftsmen from the brand.

"We are extremely excited to begin our operations in Australia. Being our 13^th country of operations, our venture into Australia will mark a significant shift in the country's jewellery landscape. With a large diaspora of immigrants from the Indian Sub-continent, the jewellery sector in Australia remains a largely untapped one. Marking a significant shift in the country's jewellery landscape, we aim to leverage our experience of over 30 years to bring forth an exceptional array of gold, diamond & precious gem jewellery. With our time-tested commitment towards providing customers with an exceptional & transparent jewellery shopping experience, I am sure that we will be able to replicate our global acceptance in Australia as well," commented Mr. Shamlal Ahamed, MD-International Operations, Malabar Gold & Diamonds.

Ethical & responsible sourcing has been a key tenant of Malabar Gold & Diamonds' entire operations. With the exclusive usage of 100% traceable raw materials in their jewelry, the brand ensures strict compliance with international standards for transparent gold & diamond sourcing set by globally recognized organizations such as LBMA (London Bullion Market Association) and World Gold Council. The principles of sustainability and responsibility are incorporated into its core business through practices such as zero tolerance on compliance to the rule of law, Anti-money Laundering (AML) & Combating the Financing of Terrorism (CFT), usage of FSC (Forest Stewardship Council) wood for packaging, LEED Gold certified offices and outlets.

"In addition to adding another country to our global operational map, our expansion into Australia further solidifies Malabar Gold & Diamonds' stature as a truly global enterprise with an expansive outreach across boundaries. With 100% transparent business practice being a hallmark of our entire operations and our stringent commitment to ensuring ethical & responsible sourcing at all levels of our supply chain, we aspire to be a model organization in the global jewellery sector that safeguards the auspicious nature of jewellery," commented Mr. Abdul Salam K.P, Vice-Chairman of Malabar Group.

In pursuit of promoting Indias renowned indigenous craftsmanship on a global scale, Malabar Gold & Diamonds has embarked on an ambitious expansion plan, which involves strengthening their retail presence in existing regions with more showroom launches, as well as charting their expansion into new countries such as South Africa, Egypt, Bangladesh, Turkey and New Zealand.

Mr. Asher O, MD-India Operations, Malabar Gold & Diamonds said, "Malabar Gold & Diamonds is making remarkable progress in both the international and Indian jewelry sectors, gaining substantial momentum. The brands strategic global expansion into new countries and within Indian states such as Rajasthan, Puducherry, Uttarakhand, Jharkhand, Goa, Assam, Tripura, and Jammu & Kashmir is poised to elevate it to the coveted No. 1 position."

ESG (Environmental, Social & Governance) initiative has been the primary commitment of Malabar Group since its inception in 1993, with 5% of net profits set aside towards such initiatives in each country of operations. The key focus is in the areas of Health, Hunger Free World, Housing, Education, Women Empowerment & Environment. The ESG goals of the organization are periodically strengthened to remain a socially conscious and responsible organization.

Editor's Note

Malabar Gold & Diamonds was established in 1993 and is the flagship company of Malabar Group, a leading diversified Indian business conglomerate.

With an annual turnover of $5.2 billion, the company currently ranks as the 6^th largest jewellery retailer globally and today has a strong retail network of 340 outlets spread across 13 countries in addition to multiple offices, design centers, wholesale units, and factories spread across India, Middle East, Far East, the USA, the UK, Canada & Australia. The group, owned by more than 4,000 shareholders, has more than 21,000 professionals from over 26 countries working towards its continued success. Malabar Gold & Diamonds also features an online store www.malabargoldanddiamonds.com providing customers the opportunity to purchase their favorite jewelry at any time and on any day from the comfort of their homes.

The group also operates MGD - Lifestyle Jewellery, a retail concept offering trendy and light weight jewellery that represents the independent and the modern woman through its designs and collections.

ESG (Environmental, Social & Governance) has been the primary commitment of the group since its inception. The key ESG focus area of Malabar Group are Health, Housing, Hunger Free World, Education, Environment and Women empowerment. 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. The group contributes 5% of its profit to such initiatives in the same country of operation.