Malabar Gold & Diamonds announced an impressive annual turnover of Rs 51,218 Crore in the previous fiscal year, reinforcing its position as a leading player in India's thriving gems and jewellery industry. Recognized globally as the sixth-largest jewellery group and the 19th-ranked brand in Deloitte's Global Ranking of Luxury Products, the company is poised for further expansion into markets like New Zealand, Egypt, Bangladesh, and various European regions. With ambitious plans to open 100 new stores within the next year, Malabar Gold & Diamonds aims to broaden its customer base and strengthen its foothold in emerging markets.
In line with its expansion strategy, Malabar Gold & Diamonds is focusing on enhancing its presence in states such as Jharkhand, Goa, Assam, Tripura, and Jammu & Kashmir, where it currently has limited representation. Operating stores across several countries including the UAE, Oman, Saudi Arabia, Singapore, Malaysia, USA, Canada, UK, and Australia, the company plans to bolster its workforce by hiring an additional 7,000 employees, bringing the total to 28,000 individuals.
Committed to sustainability and community welfare, Malabar Gold & Diamonds has invested significantly in initiatives such as the Hunger Free World program, providing meals to over 30,000 individuals daily in India and Gulf countries. The Grandma Home project supports disadvantaged women, while scholarships for girls' education underscore the brand's commitment to social responsibility. Allocating five percent of its profits to CSR activities, the company ensures responsible sourcing of gold and diamonds from legitimate suppliers and ethical mining operations.
MP Ahammed, Chairman of Malabar Group, emphasized the company's dedication to responsible sourcing practices and ethical standards. He stated, "Maintaining our position as a Responsible Jeweller is our utmost responsibility. Given our extensive global presence, we maintain our dedication to responsibly sourcing gold, ensuring it is mined without infringing upon the rights of individuals, particularly children, animals, and their habitats, assuring ethical practices, and transparent fund management. This commitment has earned us the trust and loyalty of our customers. We remain dedicated to sourcing responsibly mined materials and contributing positively to the communities we serve."
