Malabar Gold and Diamonds
TypePrivate
IndustryJewellers
Founded1993 (1993)
HeadquartersKozhikode, Kerala, India
Number of locations
330 showrooms
Area served
India, United States, UAE, Singapore, Kuwait, Bahrain, Oman, Qatar, Saudi Arabia, Malaysia, United Kingdom
ProductsGold, Diamonds, Gemstone, Platinum and Silver
RevenueIncrease US$5 Billion[1]
OwnerM. P. Ahammed
Number of employees
17,500
Websitewww.malabargoldanddiamonds.com

Malabar Gold & Diamonds is an Indian jewellery group headquartered in Kozhikode, Kerala. The company was founded by M. P. Ahammed in 1993.[2] As of May 2023, it owns more than 330 showrooms across 11 countries, making it one of the largest chains of jewellery retailer in the world.[3][4] The company also owns Malabar Watches, a network of luxury watch boutiques operating across India.[5]

History

The Malabar Gold & Diamonds was established in 1993 by M. P. Ahammed. Since 2000, the company has been on an expansion and was reported to be a group worth ₹500 crore in 2005.[6] The company claims that they are the first brand to offer only 100% BIS hallmark gold.[7] Though the company is mainly committed to India, they are also present across the Gulf and Far East markets.[8] In 2012, the company had a turnover of ₹12,000 crore and by the end of 2013, it posted a turnover of ₹22,000 crore. By 2017, the group had opened 27 stores across nations.[9]

On 12 January 2018, the company opened 11 outlets in a single day across the globe setting a new record. The number of outlets reached 208 with this launch.[10] Out of the 11 outlets opened, 8 were located in the Gulf region. The new showrooms were established in AL-Hazana Lulu, Al-Khail Mall, Al- Buhaira Lulu, Ajman City Centre and Sahara Centre in the UAE, Lagoona Mall and Mall of Qatar in Qatar, AMK Hub in Singapore, Muscat City Centre in Oman, Warrangal in Telangana, and in Ampang Mall in Malaysia.[11]

By 2018, the company had 215 stores across 9 countries with the highest number of stores in India.[12] The Indian market also accounts for about a third of the company’s revenue. The same year, Malabar Gold & Diamonds opened their first showroom in the U.S market.[13] This outlet in Chicago which was also group’s 250th outlet was inaugurated by Neeta Bhushan, Counsel General of India.[14] Later, the company legally converted its UAE operations covering Saudi Arabia, Bahrain and Oman into 100% ownership.[15]

Miss World 2017, Manushi Chhillar turns brand ambassador for Malabar Gold and Diamonds in 2018

In January 2023, the company launched its 300th global showroom in Dallas, Texas, United States. With the opening of this showroom, Malabar Gold & Diamonds became the 6th largest jewellery retailer in the world.[16] In May 2023, they launched the biggest jewellery showroom in the world, spanning at an area of 110000 sq ft at Kozhikode.[17] In June 2023, Malabar Gold & Diamonds expanded their operations into Europe by opening a showroom in London. This was also the 320th showroom of the company.[18]

Founder

M. P. Ahammed is the founder of Malabar Gold & Diamonds. He is also the chairman of the company. He was born on 1 November 1957 in Kozhikode, Kerala. He ventured into business at the age of 17 with an agro farming company. In 1981, he started trading spices and copra (dried kernel of coconut). M. P. Ahammed has two children with his wife Subaida K.P. His son Shamlal Ahammed is the company’s Managing Director of International Operations. At the age of 36 in the year 1993, he established Malabar Gold with a capital of ₹50 lakhs in his home town Kozhikode.[19]

Locations

Malabar Gold & Diamonds has over 325 stores across 11 countries. The company has stores located throughout India in states such as Maharashtra, Delhi, Gujarat, Andhra Pradesh, Haryana, Karnataka, Kerala, Tamil Nadu, Telangana, Odisha, Chhattisgarh, Uttar Pradesh, West Bengal, and Punjab. Besides India, it also has stores in Bahrain, Kuwait, Malaysia, Oman, Qatar, Saudi Arabia, Singapore, UAE and USA and UK.[20]

Offices

The headquarters of Malabar Gold & Diamonds is located in Kozhikode. The Malabar National Hub is the company’s office located in Mumbai from where the domestic operations are handled. The company oversee all of its non-India operations from Malabar International Hub at Dubai's Gold Souk Extension in Deira.[21]

Brand ambassadors

Milestones

Malabar Gold & Diamonds was one of the manufacturing concessionaries of the “Dubai Celebration Chain” that set a new Guinness World Records in 2015. The 5.52 km long chain weighed 240 kilograms and had over 4 million links.[30] Malabar Gold & Diamonds created 2.5 km of the chain.[31] It was completely handcrafted and the company created 2.5 km of the chain.[32] The Dubai Celebration Chain was presented at the 2015 Dubai Shopping Festival.[33]

In 2018, Malabar Gold & Diamonds opened 11 stores in 6 countries in a single day creating a record in the process.[34] As a part of the celebrations, Bollywood actor Anil Kapoor inaugurated the outlet at Al Hazana Lulu Dubai.[35] The actor also appeared in the ‘’Malabar Promises’’, produced by Malabar Gold & Diamonds. In 2020, the company launched the One India One Gold Rate, an initiative offering uniform gold rate across all states in the country and responsible sourced gold without compromising on the quality and purity of gold.[36][37] In May 2022, Malabar Gold & Diamonds became one of the first beneficiaries of India-UAE CEPA when it received the permission to export jewelry from India to the UAE with tax concession.[38]


Incidents

On 20 May 2016, the Rolla outlet of Malabar Gold and Diamonds in Sharjah, UAE was robbed. Four thieves broke into the store and made away with 7kg of gold jewellery kept in display glass counters, around 3:50 am.[39]

The Sharjah Police arrested 3 Pakistani nationals, who were involved in the robbery. One of their accomplice had fled the country a few hours after the incident.[40] The stolen gold was seized from the Jebel Ali Port, from where the gang members planned to send it to Pakistan by cargo.[41]

Other ventures

Factories

In March 2023, the company opened a modern integrated complex crore at Kakkancherry, Kerala, which consists of jewellery manufacturing unit and design studio. The complex was set up at an area of 1.75 lakh sq ft.[42]

CSR

5% of the profits generated by the company are devoted to the CSR activities in the fields of health, women empowerment, education, housing, and environment.[43]

The company associated with Al Baraha Hospital on 11 December 2015 to conduct free health check-up and blood donation camps. The camp was also aimed at spreading awareness on the importance of well-balanced diet. In 2016, Malabar Gold & Diamonds contributed AED 10 million ($2.72 million) to Al Jalila Foundation, a global philanthropic organization dedicated to medical education and research.[36][44] The contribution was made to support research in diseases and disorders in the United Arab Emirates. Besides this, they participates in CSR activities specifically in Dubai region and engage in activities concerning the differently abled.[45]

In 2017, Malabar Gold & Diamonds sponsored the tickets of 100 prisoners to facilitate their repatriation. The prisoners were those who had completed their jail terms at the Ajman Central Jail. In 2019, they distributed over 1,14,000 special Iftar meals/kits during the auspicious month of Ramadan.[46] This was done in association with like-minded organizations from the different countries where the activity was planned. In 2018, the Malabar Gold & Diamonds made a contribution of ₹2 crore to Kerala Chief Minister’s distress relief fund to help cope up with the devastating flood in the state. The group also distributed food and water among the victims through its Malabar Gold & Diamonds stores across the state.[47]

The company organized a blood donation drive on 26 December 2019 near one of their stores in Qatar.[48] The initiative, hosted by the jeweller’s Corporate Social Responsibility (CSR) team, saw 70 donors, including 15 staff members participating. In 2020, Malabar Gold & Diamonds donated one crore to the Telangana Chief Minister Relief Fund to help in the battle against coronavirus pandemic. They have been also actively helping the needy with essential grocery kits across the states of Andhra Pradesh and Telangana.[49]

Malabar Gold & Diamonds has distributed over 15,000 food kits comprising essential items such as rice, lentils, oil and spices, to workers in the Gulf and East Asia during the COVID-19 crisis.[50][51][52] They also donated ₹1 crore to the PM Care Fund to support the COVID-19 pandemic relief measures. Malabar Gold & Diamonds provides daily meals to nearly 32,500 needy people through their Hunger-Free World initiative, which aligns with the United Nations’ Sustainable Development Goal 2–Zero Hunger. The company works with "Thanal," a group renowned for its dedication to social service, to carry out this purpose. For the preparation of meals, various places have been equipped with modern kitchens.[53] To guarantee that the food is cooked with hygiene, trained staff is appointed. Individuals on the streets and those in need get food gifts from volunteers from Thanal and Malabar. The main locations where packages are distributed are hospitals, bus stops, and railroad stations.[54] In addition, Malabar volunteers survey the nation to determine its level of poverty. The Hunger-Free World campaign is currently active through numerous centers throughout Africa and India.[55]

Awards and recognition

Malabar Gold & Diamonds has been awarded with the Super Brand award for five consecutive years in Oman.[56][57][58] The company has received an award by the Retail Jewellers India organization in 2017 for their special contributions to the gemstone and jewellery industry.[59] Malabar Gold & Diamonds was recognized as one of “The Economic Times Best Brands 2019”.[60] In September 2022, the All India Gem and Jewellery Domestic Council (GJC) felicitated Malabar Gold and Diamonds on being selected as the 6th largest jewellery group in the world. In July 2023, they were honoured with the Global Retailer of the Year Award' at the Kerala Jewellery Awards.[61]

References

  1. ↑ "Forbes – Malabar Gold and Diamonds". Forbes. 20 February 2018. Archived from the original on 25 December 2018. Retrieved 10 February 2019.
  2. ↑ "Three of India's wealthiest jewelers hail from Kerala, but that's hardly surprising". The News Minute. 2 July 2015. Archived from the original on 29 September 2018. Retrieved 10 February 2019.
  3. ↑ "Malabar Gold & Diamonds aims to become world's largest jeweller in three years". Business Today. 22 January 2020. Retrieved 26 September 2023.
  4. ↑ "Malabar Group Headquarters wins Forbes design award". 17 April 2019. Archived from the original on 27 June 2022. Retrieved 10 September 2019.
  5. ↑ "Kareena Kapoor to inagurate [sic] Dubai's 122nd outlet of Malabar Gold & Diamonds today". Times of India. 20 December 2014. Archived from the original on 23 January 2019. Retrieved 10 February 2019.
  6. ↑ "സൗന്ദര്യത്തിളക്കത്തിന് കാൽ നൂറ്റാണ്ടിന്റെ മാറ്റ്". ManoramaOnline. Retrieved 26 September 2023.
  7. ↑ "Malabar Gold and Diamonds to triple outlets to 750". www.navhindtimes.in. 16 October 2018. Archived from the original on 17 October 2018. Retrieved 16 October 2018.
  8. ↑ "News - Arab News - 21 February 2017". 20 February 2017. Archived from the original on 28 January 2019. Retrieved 10 February 2019.
  9. ↑ "Malabar Gold to invest Rs 2,000 cr to open 80 stores in 2017". The Economic Times. 18 June 2017. ISSN 0013-0389. Retrieved 4 October 2023.
  10. ↑ "Malabar Gold & Diamonds opens 11 outlets across the globe in a day". Archived from the original on 20 January 2020. Retrieved 10 September 2019.
  11. ↑ "Malabar Gold & Diamonds opens outlets in 6 countries on the same day". 12 January 2018. Archived from the original on 14 January 2018. Retrieved 10 September 2019.
  12. ↑ "The Dubai-based Indian retailer that's now bigger than Tiffany's". 11 May 2018. Archived from the original on 6 August 2023. Retrieved 10 September 2019.
  13. ↑ "The Dubai-based Indian retailer that's now bigger than Tiffany's". Archived from the original on 25 December 2018. Retrieved 10 September 2019.
  14. ↑ "Malabar Gold & Diamonds opens first US outlet". Arab News. 24 November 2018. Retrieved 30 August 2023.
  15. ↑ Release, Press. "Malabar Gold & Diamonds on expansion, scheduled to open 56 stores". www.zawya.com. Retrieved 30 August 2023.
  16. ↑ "Malabar Gold & Diamonds wins the 'Global Retailer of the Year Award' at the Kerala Jewellery Awards". indianjeweller.in. Retrieved 4 October 2023.
  17. ↑ Ghosal, Sutanuka (4 May 2023). "Malabar Gold & Diamonds to open the world's biggest jewellery showroom in Kozhikode". The Economic Times. ISSN 0013-0389. Retrieved 30 August 2023.
  18. ↑ "Malabar Gold & Diamonds Forays into Europe; Launches 320th Showroom in London | Indo American News". Retrieved 4 October 2023.
  19. ↑ "Top 6 jewellers who control India's gold". Archived from the original on 5 September 2022. Retrieved 10 September 2019.
  20. ↑ "Hyderabad's 9th showroom in the city was inaugurated by film actress Tamannah Bhatia in the presence of Mohd. Ali, Home Minister, Telangana". 24 October 2019.
  21. ↑ Ghosal, Sutanuka (4 March 2023). "Malabar Gold & Diamonds opens modern integrated complex". The Economic Times. ISSN 0013-0389. Retrieved 30 August 2023.
  22. ↑ "NTR Jr renews association with Malabar Gold and Diamonds as their brand ambassador". Archived from the original on 21 June 2023. Retrieved 21 June 2023.
  23. ↑ "UAE- Anil Kapoor is Malabar Gold & Diamonds' new Brand Ambassador". Archived from the original on 5 September 2022. Retrieved 10 September 2019.
  24. ↑ "Malabar Gold & Diamonds signs Anil Kapoor as brand ambassador". 31 July 2019. Archived from the original on 1 August 2019. Retrieved 10 September 2019.
  25. ↑ IN, FashionNetwork com. "Malabar Gold and Diamonds name actor Karthi as brand ambassador in Tamil Nadu". FashionNetwork.com. Retrieved 30 August 2023.
  26. ↑ Ghosal, Sutanuka (18 April 2023). "Malabar Gold & Diamonds ropes in Alia Bhatt as brand ambassador". The Economic Times. ISSN 0013-0389. Retrieved 30 August 2023.
  27. ↑ "Kareena Kapoor to endorse Malabar Jewellery brand". 3 April 2013. Archived from the original on 24 June 2023. Retrieved 24 June 2023.
  28. ↑ "Kareena Kapoor to endorse Malabar Gold and Diamonds". The Indian Express. 2 April 2013. Retrieved 30 August 2023.
  29. ↑ "Malabar opens 156th showroom".
  30. ↑ "Dubai Gold and Jewellery Group unveil the world's longest handmade gold chain". Archived from the original on 14 April 2021. Retrieved 10 September 2019.
  31. ↑ "Dubai's golden World Record: 5km-long gold chain". 25 November 2014. Archived from the original on 5 April 2015. Retrieved 10 September 2019.
  32. ↑ "Will you buy gold in 2015 as prices projected to come down?". 3 January 2015. Archived from the original on 9 December 2022. Retrieved 10 September 2019.
  33. ↑ "Say hello to Dubai's latest world record, a 5km-long handmade gold chain". 5 January 2015. Archived from the original on 6 August 2023. Retrieved 10 September 2019.
  34. ↑ "Malabar Gold & Diamonds opens 11 outlets across the globe in a day". Archived from the original on 20 January 2020. Retrieved 10 September 2019.
  35. ↑ "Malabar Gold & Diamonds To Make History By Opening 11". Archived from the original on 21 September 2019. Retrieved 10 September 2019.
  36. 1 2 "Malarar Gold & Diamonds Strengthens Its Global Position As Leading Retailer With 208 Outlets". Archived from the original on 14 January 2018. Retrieved 10 September 2019.
  37. ↑ "Malabar strengthens its global position". Archived from the original on 6 August 2023. Retrieved 10 September 2019.
  38. ↑ Ghosal, Sutanuka (29 October 2022). "Malabar becomes 1st Indian jeweller to import 25 kg gold from UAE under CEPA". The Economic Times. ISSN 0013-0389. Retrieved 4 October 2023.
  39. ↑ "Malabar outlet in Sharjah robbed". Emirates24/7 News. 23 May 2016.
  40. ↑ Abdullah, Afkar (24 May 2016). "Malabar Gold heist: 3 held, 1 at large, jewellery recovered". Khaleej Times.
  41. ↑ El Sadafy, Mohammad (23 May 2016). "Malabar Gold Heist: Thieves on visit visa moved gold to Jebel Ali Port". Emirates24/7 News.
  42. ↑ "Kerala CM inaugurates India's most advanced Integrated Jewellery Unit and Design Studio at Kakkancherry Kerala". The Week. Retrieved 26 September 2023.
  43. ↑ "Jewellery firm helps needy prisoners travel home". 10 December 2017. Archived from the original on 6 August 2023. Retrieved 10 September 2019.
  44. ↑ "Malabar Gold donates AED10m to Al Jalila Foundation". 29 March 2016. Archived from the original on 6 August 2023. Retrieved 10 September 2019.
  45. ↑ "Dubai Police honours Malabar Gold". 18 February 2016. Archived from the original on 6 August 2023. Retrieved 10 September 2019.
  46. ↑ "Malabar Gold & Diamonds pledges over 1.1mn meals this Ramadan". Gulf Times. 10 April 2021. Retrieved 30 August 2023.
  47. ↑ Newspaper, The Peninsula (30 August 2018). "Malabar Group contributes to Kerala flood relief". m.thepeninsulaqatar.com. Retrieved 26 September 2023.
  48. ↑ Tribune, Qatar; Opadijo, Jelili Adekola (14 August 2022). "Malabar Gold & Diamonds hosts blood donation drive as part of CSR activities". Qatar Tribune. Retrieved 30 August 2023.
  49. ↑ AuthorTelanganaToday. "NATCO Pharma donates RS 4 cr worth medical equipment to Telangana". Telangana Today. Retrieved 16 April 2020.
  50. ↑ "Malabar Gold distributes food kits across GCC & Far East". Times of Oman. 4 May 2020. Archived from the original on 10 May 2020. Retrieved 13 May 2020.
  51. ↑ "Coronavirus: Dubai-based Malabar Gold and Diamonds pledges 2.5 million meals to the needy". gulfnews.com. 3 May 2020. Archived from the original on 15 May 2020. Retrieved 13 May 2020.
  52. ↑ "Covid-19 in Oman: Malabar Gold & Diamonds distributes food kits to the needy". The Arabian Stories News. 2 May 2020. Archived from the original on 6 August 2023. Retrieved 12 May 2020.
  53. ↑ "Malabar Group providing daily meals to 32,500 people under 'Hunger-Free World' Campaign, aiming for 1 Lakh". The CSR Universe. Retrieved 30 August 2023.
  54. ↑ "മലബാർ ഗ്രൂപ്പിന്റെ 'ഹംഗർ ഫ്രീ വേൾഡ് ' പദ്ധതിക്ക് തുടക്കം". Mathrubhumi. 3 May 2023. Retrieved 30 August 2023.
  55. ↑ "വിശക്കുന്നവര്‍ക്കു ഭക്ഷണം: മലബാര്‍ ഗ്രൂപ്പിന്‍റെ 'ഹംഗര്‍ ഫ്രീ വേള്‍ഡ്' പദ്ധതിക്ക് തുടക്കം". ManoramaOnline (in Malayalam). Retrieved 30 August 2023.
  56. ↑ "Malabar achieves Superbrand status". Gulf Times. 12 June 2013. Archived from the original on 6 August 2023. Retrieved 11 February 2019.
  57. ↑ "Malabar Gold & Diamonds wins Superbrand award for 5th time". Muscat Daily. 20 September 2017. Archived from the original on 12 February 2019. Retrieved 11 February 2019.
  58. ↑ "MALABARGOLD & DIAMONDS BAGS AWARD FOR 'BEST RETAIL CHAIN'". Archived from the original on 28 September 2016. Retrieved 10 September 2019.
  59. ↑ "Malabar Gold & Diamonds bags top Indian award". Gulf Times. 12 August 2017. Archived from the original on 6 August 2023. Retrieved 11 February 2019.
  60. ↑ "Malabar Gold & Diamonds recognised as one of 'Best Brands 2019". 8 June 2019. Archived from the original on 9 June 2019. Retrieved 10 September 2019.
  61. ↑ Times, Navhind (30 September 2022). "GJC felicitates Malabar Gold and Diamonds – The Navhind Times". Retrieved 30 August 2023.
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