Malabar Gold & Diamonds to add about 50 LGD jewellery stores to retail network in FY26

Malabar Gold & Diamonds is evaluating a foray in the lab-grown diamonds, at a time when the segment is expected to grow at strong double-digit over the next few years in India. The company will also be strongly focusing on retail expansion in FY26.

The company expects to open at least 50 new stores in India. In India alone. The jewellery retailer is expecting to add about 30 stores to its international network taking the total store addition to about 90 stores in the current fiscal. Currently, the company has a network of over 390 showrooms across 13 countries.

While India is the leading exporter of lab-grown diamonds, the retail market is still small and pegged at about $300-350 million as of 2024. However, the segment is expected to grow at about 15 per cent CAGR over the next decades. As per Redseer Strategy Consultants, large-scale retailers and luxury houses are expected to play a key role in driving sales volumes of LGDs in India.