Malabar Gold & Diamonds

Malabar Gold and Diamonds
TypePrivate
IndustryJewellers
Founded1993 (1993)
HeadquartersKozhikode, Kerala, India
Number of locations
445 showrooms (2026)[1]
Area served
India, United States, Canada, UAE, Singapore, Kuwait, Bahrain, Oman, Qatar, Saudi Arabia, Malaysia, United Kingdom, Australia, New Zealand
ProductsGold, diamonds, gemstone, platinum and silver
RevenueIncrease US$7.5 Billion[2]
OwnerM. P. Ahammed
Number of employees
27,500[3] (2025)
Websitewww.malabargoldanddiamonds.com Edit this at Wikidata

Malabar Gold & Diamonds is an Indian jewellery group headquartered in Kozhikode, Kerala. The company was founded by M. P. Ahammed in 1993.[4] As of May 2023, it owns more than 330 showrooms across 11 countries.[5][6]

History

The company was established in 1993 by M. P. Ahammed, who also serves as the chairman. In 1981, he started trading spices and copra (dried kernel of coconut). At the age of 36 in the year 1993, he established Malabar Gold with a capital of ₹50 lakhs in his home town Kozhikode.[7] Since 2000, the company has been on an expansion and was reported to be a group worth ₹500 crore in 2005.[8]

The company expanded to the Middle East in 2008.[9]

In 2022, with a revenue of $4.024 billion, Malabar was ranked 19th luxury goods company in Deloitte's "Global Powers of Luxury Goods" report.[10]

As of 2026, Malabar Gold & Diamonds reported a turnover of approximately ₹63,000 crore.[11][12]

Controversies

2016

The business courted controversy in 2016 when their UAE branches celebrated Pakistan's Independence Day.[13]

2025

The company had engaged London-based Pakistani influencer Alishba Khalid as one of the influencers to promote the inauguration of its Birmingham showroom. After her earlier posts criticising India and Operation Sindoor resurfaced, social media posts labelled the brand a Pakistan sympathiser. The association sparked boycott calls peaking around the Dhanteras festival.[14][15] The Bombay High Court ordered the deletion of the defamatory social media posts. Malabar stated that it had hired Khalid through an agency, was unaware of her origin and remarks, and had already discontinued her services.[16]

2026

Bilaspur Gold Showroom Faces Allegations of Selling 20-Carat as 22-Carat Staff at the Malabar Gold & Diamonds showroom in Bilaspur allegedly sold 20-carat jewelry as 22-carat, prompting local jewelers to confront them and videos to spread online. Tarbahar Police filed an FIR on August 15 against the manager, caratometer operator, and others after a HUID-marked bracelet tested lower multiple times. Users shared frustration over similar deceptions by chain stores and family jewelers alike, calling for independent testing and government-approved machines to rebuild trust amid high gold prices. [17] [18]

References

  1. ↑ Bureau, The Hindu (17 March 2026). "Malabar Gold & Diamonds announces to open 20 new showrooms with ₹1,580 crore investment". The Hindu. {{cite news}}: |last1= has generic name (help)
  2. ↑ "About Us – Malabar Gold and Diamonds". Malabar Gold and Diamond s. 20 February 2018. Archived from the original on 25 December 2018. Retrieved 10 February 2019.
  3. ↑ Bureau, The Hindu (31 October 2025). "Malabar Gold writes to 27,500 staff, affirms commitment to its values". The Hindu. {{cite news}}: |last1= has generic name (help)
  4. ↑ "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.
  5. ↑ "Malabar Gold & Diamonds aims to become world's largest jeweller in three years". Business Today. 22 January 2020. Retrieved 26 September 2023.
  6. ↑ "Malabar Group Headquarters wins Forbes design award". 17 April 2019. Archived from the original on 27 June 2022. Retrieved 10 September 2019.
  7. ↑ "Top 6 jewellers who control India's gold". Archived from the original on 5 September 2022. Retrieved 10 September 2019.
  8. ↑ "സൗന്ദര്യത്തിളക്കത്തിന് കാൽ നൂറ്റാണ്ടിന്റെ മാറ്റ്". ManoramaOnline. Retrieved 26 September 2023.
  9. ↑ Sazonov, Alexander; Antony, Anto (8 September 2025). "Billionaires Who Amassed Gold Fortunes in Dubai Face Slowdown". Bloomberg. Retrieved 3 November 2025.
  10. ↑ "Global Powers of Luxury Goods 2023" (PDF). Deloitte. Archived (PDF) from the original on 23 April 2025. Retrieved 19 October 2025.
  11. ↑ "Malabar Gold & Diamonds Eyes INR 78, 000 Cr Turnover in FY26". retail.financialexpressb2b.com. 17 July 2025. Retrieved 14 May 2026.
  12. ↑ Kumar, Chitranjan (26 March 2026). "Malabar Gold & Diamonds plans ₹5,200 crore capex, targets 50 new stores in FY27". Fortune India. Retrieved 14 May 2026.
  13. ↑ TNM Staff (15 August 2016). "Pakistan Independence Day advertisement controversy: Malabar Gold claims they were not aware". The News Minute. Retrieved 18 October 2025.
  14. ↑ HT News Desk (18 October 2025). "Why is Malabar Gold & Diamonds facing boycott calls on Dhanteras? There's a Pakistan link". Hindustan Times. Retrieved 18 October 2025.
  15. ↑ Mukul, Sushim (16 October 2025). "Ahead of Dhanteras, Malabar Gold faces heat over Pakistani influencer, drops her". India Today. Retrieved 18 October 2025.
  16. ↑ "Bombay HC to Google, Facebook and others: Delete posts calling Malabar Gold 'Pakistan sympathiser' after brand linked to Instagram influencer Alishba Khalid". The Times of India. 3 October 2025. ISSN 0971-8257. Archived from the original on 1 October 2025. Retrieved 19 October 2025.
  17. ↑ https://jantaserishta.com/local/chhattisgarh/uproar-at-malabar-gold-showroom-allegation-of-selling-20-carat-gold-by-claiming-it-was-22-carat-4829984
  18. ↑ https://x.com/seriousfunnyguy/status/2089680180717785121?s=20
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