From Calicut To The World: How Malabar Gold And Diamonds Became A Top Jewellery Brand

Malabar Gold & Diamonds has been placed among the world’s leading jewellery retailers, according to the Global Powers of Luxury Goods Report 2023 published by Deloitte Touche Tohmatsu Limited (DTTL).

The prestigious annual ranking, which analyses the top 100 luxury goods companies worldwide, positioned Malabar Gold & Diamonds as the 19th largest luxury goods company in the world — and notably, the highest-ranked Indian brand on the list.

Over three decades, the Malabar group expanded from a regional jewellery shop into a global chain with hundreds of showrooms, a large manufacturing footprint and a growing portfolio of international operations — a rise marked by rapid store openings, landmark records and recognition in global rankings.

What began as a single venture by entrepreneur M. P. Ahammed in Kozhikode quickly turned into an aggressive expansion story. Within a decade, the group was scaling across India and, from the early 2000s, pushing into Gulf and Far East markets.

By 2018, Malabar had crossed 200 outlets in multiple countries; the same year, the company opened 11 showrooms in a single day across six countries, setting a regional record and taking its network past the 200 mark. By mid-2023, the group celebrated the opening of its 300th showroom in Dallas and had reached more than 320 outlets with the launch of a London store, cementing its position as a truly global retailer.

The firm’s fast expansion and consistent retail sales positioned it among the largest jewellery retailers globally, making it one of the few homegrown chains to achieve such scale.

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Malabar Gold & Diamonds runs an extensive retail network across India and overseas, with over 340 stores in more than a dozen countries. The company oversees international operations from a hub in Dubai and also invested in modern manufacturing capability at Kakkancherry, Kerala — a large integrated complex that houses jewellery manufacturing and a design studio. These facilities are intended to support in-house design, improve supply chain control and meet the growing global demand for its products.

The group has pursued several notable initiatives. In 2018, it opened its first U.S. showroom in Chicago, a milestone that coincided with the chain reaching 250 outlets.

In 2023, it unveiled what it described as the world’s largest jewellery showroom in Kozhikode, underlining the brand’s home-market strength. The company has also promoted the idea of a uniform gold rate across states through programs such as “One India One Gold Rate,” and benefited from international trade agreements such as India-UAE CEPA that provided export incentives.

Malabar has invested heavily in brand building, signing high-profile ambassadors from cinema and popular culture to raise its visibility. Over the years, the chain has associated with well-known names across the Indian film industry, a strategy that has helped the brand resonate with a wide audience and strengthened its advertising campaigns and store launches.

Alongside commercial growth, Malabar has been active in CSR initiatives. The company allocates a portion of profits to health, education, women’s empowerment, housing and environmental programs.

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Its philanthropic activities have included large donations to medical research foundations, disaster relief contributions, food distribution drives and community support programs during crises such as the COVID-19 pandemic. The brand’s Hunger-Free World initiative and partnerships with NGOs have aimed to deliver meals and essential supplies to vulnerable populations.

Rapid expansion has also brought challenges. The company has experienced significant security incidents, including high-profile robberies at outlets overseas.

Notable cases include a major theft at a Sharjah branch in 2016 and a smash-and-grab incident in Mississauga, Canada, in 2024. Such events prompted tighter security measures across the chain and highlighted the risks faced by global jewellery retailers.

Founder M. P. Ahammed, who started his business career in trading and farming, remains a central figure in the group’s story. From a ₹50-lakh start in Kozhikode in 1993, he guided the firm’s transformation into a multinational retailer.

The company’s leadership includes family members in executive roles: his son Shamlal Ahammed manages international operations, reflecting Malabar’s status as a family-led business with professionalised governance as it expanded.

Malabar Gold & Diamonds has received multiple industry awards and recognitions, including regional Super Brand accolades and retail industry honours. The group’s scale and contribution to the jewellery sector were acknowledged by industry bodies and award panels, reinforcing its commercial credentials at home and abroad.