Latest news with #MalabarGold&Diamonds
Fashion Network
8 hours ago
- Business
- Fashion Network
Malabar Gold & Diamonds eyes lab grown diamond market for growth
Malabar Gold & Diamonds is exploring opportunities in the lab grown diamond segment as part of its strategy to sustain growth amid rising gold prices. The Kerala-based jewellery retailer is aiming for a 20% revenue increase in the current financial year, following revenues of Rs 62,000 crore in the 2025 fiscal. "We want to come in with a different proposition with a separate identity and not mix it with natural diamonds, as customers are different," said Malabar Group's chairman M P Ahmmad, ET Retail reported. With lab grown diamonds emerging as a cost-effective alternative, the company is tapping into the segment to broaden its appeal and offset gold price volatility. Malabar plans to open 90 new outlets, 60 in India and 30 overseas, while also preparing for a stock market debut in the 2028 financial year. 'We are 100 per cent thinking of listing our company on the stock market,' said Ahmmad, India Retailing reported. Ahmmad added that legal work is underway to consolidate subsidiaries and LLPs ahead of the IPO. Malabar Gold currently operates 391 showrooms across 19 Indian states and international markets. To maintain affordability and retain customers, the company is introducing lighter jewellery designs using different caratage without compromising appearance. 'We are coming out with different caratage and designing products without compromising the looks so that everyone can still afford gold jewellery,' said O Asher, managing director for Malabar's India operations.
Time of India
5 days ago
- Business
- Time of India
Hunger Free World: Malabar Gold & Diamonds' fight against urban hunger
. Hunger is a deeply rooted global crisis that continues to haunt humanity despite centuries of agricultural advancement and economic development. According to statistics from the Food and Agriculture Organisation of the United Nations, over 29.5 crore people across 53 countries and territories faced acute hunger in 2024—an increase of almost 14 million compared to 2023. This situation is not caused by food scarcity but by food insecurity. According to the Global Report on Food Crises (GRFC) , conflict, economic crises, climate extremes, and forced displacement continue to drive food insecurity. Against this stark backdrop, the Hunger Free World initiative by Malabar Gold & Diamonds emerges as a powerful and practical response to the invisible hunger haunting India's streets. Launched in 2022 as a grassroots intervention to address post-pandemic food insecurity, the project has since evolved into one of India's largest and most systematically executed corporate efforts to fight hunger. It targets the most neglected populations—those living in the open, in slums, and in unregistered settlements—who often fall through the cracks of government schemes and civil society outreach. Hunger is a deeply rooted global crisis that continues to haunt humanity despite centuries of agricultural advancement and economic development. According to statistics from the Food and Agriculture Organisation of the United Nations, over 29.5 crore people across 53 countries and territories faced acute hunger in 2024—an increase of almost 14 million compared to 2023. This situation is not caused by food scarcity but by food insecurity. According to the Global Report on Food Crises (GRFC) , conflict, economic crises, climate extremes, and forced displacement continue to drive food insecurity. Against this stark backdrop, the Hunger Free World initiative by Malabar Gold & Diamonds emerges as a powerful and practical response to the invisible hunger haunting India's streets. Launched in 2022 as a grassroots intervention to address post-pandemic food insecurity, the project has since evolved into one of India's largest and most systematically executed corporate efforts to fight hunger. It targets the most neglected populations—those living in the open, in slums, and in unregistered settlements—who often fall through the cracks of government schemes and civil society outreach. The core mission of Hunger Free World is simple but profound: to ensure that no individual has to sleep hungry, especially in urban and peri-urban zones where vulnerability is compounded by invisibility. The project is designed to go beyond emergency relief; it aims to create sustained, structured, and scalable systems for food access in marginaliszed communities. To date, Malabar Gold & Diamonds has distributed 2.5 crore meals across the country and beyond. On average, 70,000 hot and nutritious meals are served daily to people living in conditions of extreme deprivation. Of these, 10,000 packets are distributed in three schools in Zambia. The meals are prepared with strict attention to hygiene and nutrition standards and are delivered through a network of partner NGOs and local volunteers. Each location is monitored to ensure quality, consistency, and traceability—key features that set the program apart from sporadic charity drives. The project began during the pandemic, but its roots can be traced back tolie in Malabar's long-standing commitment to social equity. As the crisis unfolded, field workers began noticing a disturbing pattern: individuals waiting for food who had gone unnoticed by both government and non-governmental support systems. Entire families were living on sidewalks, under flyovers, or behind construction sites. These were people without documentation, without shelter, and without even the means to access ration cards or food subsidies. It was in response to this reality that Hunger Free World was conceptualiszed—not just as a feeding program, but as a long-term intervention to map urban hunger, identify its patterns, and design responses tailored to local needs. . In just three years, the scale of the initiative has grown exponentially. In 2022, it operated in 16 cities and served 17.55 lakh meals. By 2023, it had expanded to 34 cities, distributing 72.35 lakh meals. In 2024, it reached 80 cities with 1.13 crore meals served. Currently, meals are being distributed in 167 centeres across 20 states, with new urban locations being added each month. The initiative is executed in collaboration with carefully vetted partner NGOs, local bodies, and volunteers who help identify true beneficiaries. These include the homeless, migrant workers, elderly people without support, and children living without parental care. The distribution system is decentraliszed to ensure adaptability, and teams on the ground conduct periodic needs assessments to realign priorities and reduce duplication of services. This approach has enabled the program to become both responsive and resilient in the face of evolving challenges. As part of the Hunger Free World programme, Malabar Gold and Diamonds has launched a new initiative called Micro Learning Centres (MLCs). The aim is to support impoverished children who are either not enrolled in school or have dropped out due to extreme poverty. We identify these children, bring them to the MLCs, and provide them with basic education, nutritious food, and essential medical care, —with the ultimate goal of reintegrating them into the formal schooling system. They We have opened 716 MLCs across different states, serving over 32,000 children. So far, Malabar Gold & Diamonds has successfully re-enrolled 9,000 students in schools through this initiative. Importantly, Hunger Free World does not approach hunger as an isolated issue. Instead, it treats food insecurity as part of a broader ecosystem of deprivation. In many locations, meal distribution is accompanied by basic medical checkups, counselling, and access to clean drinking water. Beneficiaries are guided on how to access government services and documentation. This integrated approach ensures that hunger is not only alleviated in the immediate term but also addressed through systemic inclusion. A powerful aspect of the campaign is its emphasis on dignity. Meals are served with respect, and the language of charity is consciously avoided. In several cities, distribution points have become informal community spaces—where those living on the margins can gather without judgment, receive a warm meal, and experience human connection. The campaign also prioritiszes accountability and transparency. With ₹53 crore allocated to the project so far, every rupee is accounted for through rigorous auditing and monitoring processes. Daily reports, quality checks, and beneficiary tracking mechanisms are integral to its operation, allowing for constant refinement and credible impact measurement. The growing success of Hunger Free World has also encouraged expansion into international territories. In 2024, the initiative launched its first international chapter in Zambia, aiming to serve 3.6 million school meals annually. This marks a significant step in taking the model global, demonstrating that corporate-led humanitarian efforts can adapt to diverse geographies and socio-economic contexts. At the heart of Hunger Free World is a deeply human philosophy. As M.P. Ahammed, Chairman of Malabar Gold & Diamonds, notes: . 'We want to send a strong message to society: hunger can be eradicated if people work in unison. We are doing our utmost in this regard. We believe that revolutionary changes are possible if corporations and institutions join hands to fight hunger. Of course, the distribution of food packets offers immediate relief, but it does not eradicate the root cause of the problem. What is truly important is achieving sustainable economic growth by increasing production and creating more jobs. That is the long-term solution. However, with 29.5 crore people facing hunger, we cannot wait for economic growth to reach everyone. Hence, we launched the Hunger Free World programme.' The story of Hunger Free World is one of empathy turned into action—of corporate resources channelled into meaningful transformation. It demonstrates that when business meets conscience, real change becomes possible. In a world where millions still go to bed hungry, Malabar's initiative is not just feeding bodies—it is restoring hope. The article has been produced on behalf of Malabar Gold & Diamonds by the Times Internet's Spotlight team Stay informed with the latest business news, updates on bank holidays and public holidays . AI Masterclass for Students. Upskill Young Ones Today!– Join Now
The Hindu
6 days ago
- Business
- The Hindu
Malabar Group earmarks ₹150 crore for CSR in FY26
Malabar Group, the parent company of Malabar Gold & Diamonds, said it has allocated ₹150 crore in 2025-26 for scaling up its CSR initiatives focused on healthcare, education, hunger & poverty alleviation, women empowerment, environment protection and housing for less privileged. Under its 'The Hunger Free World' initiative, the group has committed to distribute 70,000 meals daily in India and Zambia to the under-privileged, totalling 2.50 crore meals in 2025-26. 'This represents a significant leap from the cumulative achievement of 2.5 crore meals served over the past three years and signals a deepened commitment to the cause of food security for underserved communities,' the group said. The initiative is aligned with the United Nations' Sustainable Development Goal 2 - Zero Hunger. M.P. Ahammed, Chairman, Malabar Group said, 'CSR is an integral part of our culture and we believe in giving back to society. We dedicate May 28 as our annual CSR day; we reaffirm our pledge to stand with the underserved through sustained and impactful action.' 'Our CSR initiatives are a reflection of that enduring commitment. While we are doing our utmost, a greater impact can be achieved if more organisations join this mission. With 295 million people globally facing acute hunger (as per UN data), immediate action is non-negotiable,' he said. 'This urgency drives our meal distribution efforts under the Hunger Free World initiative. Having said that, along with food distribution, the need of the hour is concerted efforts to boost production, creating jobs, and fostering economic growth to bring in sustainable change,' he added.
Mint
6 days ago
- Business
- Mint
Malabar Gold & Diamonds weighs entry into lab-grown diamond segment
New Delhi: Malabar Gold & Diamonds is exploring an entry into the lab-grown diamond market with a distinct branding strategy, joining a small but growing list of large jewellery retailers eyeing the nascent segment. The company is studying consumer interest in lab-grown diamonds and evaluating how best to position its offering, said M.P. Ahammed, chairman of the Kerala-headquartered group. 'We want to come in with a different proposition with a separate identity and not mix it with natural diamonds, as customers are different. We will formalize something,' he said on the sidelines of a press conference in Delhi. Malabar has not yet set a timeline for its venture. 'Malabar is always open to understanding customer needs. Lab-grown is definitely in the market…We are still doing the research and understanding whether consumers like it. We don't want to do anything with a short-term view,' added O. Asher, managing director. If it moves ahead, Malabar would be among the few national jewellery chains in India to enter this space. Last year, Senco Gold Ltd began piloting lab-grown diamonds under a sub-brand called Sennes. India's overall diamond market is estimated at $6.2 billion in FY25, with lab-grown diamonds accounting for just $0.4 billion, according to Wazir Advisors. Both segments are expected to grow, with natural diamonds projected to reach $8.6 billion and lab-grown $0.6 billion by FY28. While India and China have emerged as major producers of lab-grown diamonds, retail adoption in both markets has been slow, executives said. Lab-grown diamonds are typically priced at a significant discount to natural ones and have found takers among a mix of jewellery startups and traditional family-run jewellers looking to diversify. Malabar, which primarily caters to the wedding segment with gold jewellery as its mainstay, also retails solitaires and engagement rings. The company operates over 390 stores across 13 countries and reported an annual turnover of $6.2 billion calendar year 2024. The company is also responding to the impact of high gold prices, which have weighed on consumer demand. In April, gold touched a high of ₹ 96,875 per 10 grams, prompting a visible correction in volumes, as per industry executives. 'Consumers with a budget of ₹ 1 lakh cannot increase their spending, so we have seen a correction in volumes,' Asher said. 'We are trying to take more market share by coming up with different programmes and categories of products. We are also offering jewellery in various carats.' 'Due to a jump in gold prices, consumers with a budget of Rs1 lakh cannot increase their budget, so we have seen a correction in volumes. What we are able to do—we are trying to take more market share by coming up with different programs and different categories of products. We are also coming in various carats (of gold). So it's a different business plan we are coming up with so consumers can still afford gold jewellery," he said. Malabar plans to introduce more 18-carat and 14-carat designs to offer value-conscious customers more options, mirroring a shift seen across the organised jewellery sector. 'We are trying to explore a little bit in 18 karat,' Asher added. 'We have come up with various innovations to reduce the budget without reducing the look.' The company aims to open at least 50 new stores in India this fiscal as it expands its retail footprint.
Daily Tribune
07-05-2025
- Business
- Daily Tribune
Kareena Kapoor Khan unveils two revamped showrooms of Malabar Gold & Diamonds in Sharjah
Malabar Gold & Diamonds, the 6th largest jewellery retailer globally with over 400 showrooms across 13 countries, has officially unveiled 2 newly revamped showrooms in Rolla Square, Sharjah. The showrooms were launched by acclaimed Bollywood actress and brand ambassador of Malabar Gold & Diamonds, Kareena Kapoor Khan. Mr. Abdul Salam K.P, Vice Chairman of Malabar Group; Mr. Shamlal Ahamed, MD-International Operations, Malabar Gold & Diamonds; Mr. Mayankutty C, Senior Director of Malabar Group; Mr. Nishad AK, Malabar Group Executive Director, other senior management team members from Malabar Gold & Diamonds, customers & well-wishers were also present. Massive crowds of residents were in attendance for the event, who had gathered to watch the Bollywood diva in all her glory. Located in one of Sharjah's busiest shopping hubs, the redesigned showrooms aim to offer jewellery lovers an elevated shopping experience with a luxurious ambiance, personalized services, and a refined product presentation. The showrooms showcase over 40,000 jewellery designs across Gold, Diamond & Precious Gem jewellery, with a dedicated space exclusively for light weight design in Gold & Diamonds. Other amenities to improve customer experience such as a luxurious customer lounge and valet parking is also available in the showrooms. 'Malabar Gold & Diamonds has always prioritized enhancing customer journey with our products & services and we are extremely thrilled to present our revamped showrooms in Rolla to our customers here. What makes this occasion even more special is that the first of these showrooms was established in 2008, which marked Malabar Gold & Diamonds first international venture outside of India', commented Mr. Shamlal Ahamed, MD-International Operations, Malabar Gold & Diamonds. Malabar Gold & Diamonds is renowned globally for offering an unparalleled jewellery buying experience with convenience and customer-friendly policies along with the 'Malabar Promise' of incomparable quality and service assurance. Apart from this, the Malabar Promise also includes transparent pricing, assured lifetime maintenance from any of the showrooms across 13 countries, guaranteed buyback, tested and certified diamonds, 100% value on diamond and gold jewellery exchange, 100% hallmarked jewellery, responsible sourcing, fair price policy, and fair labour practices.
