Malabar Gold & Diamonds achieves `51k-cr turnover

Malabar Gold & Diamonds the world’s sixth-largest jewellery group, has achieved a new record with an annual retail global turnover of Rs 51,218 crore in the last financial year. This remarkable growth underscores the company’s rapid ascent as a trusted jewellery brand worldwide.

MP Ahammed, Chairman, Malabar Group, said: “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.”

In just three decades, the Kozhikode-headquartered company has garnered unprecedented success in the global jewellery industry. The brand’s strategic retail expansion plan spans India and overseas markets, aiming to strengthen its position as a global leader.

Currently, the company operates 345 stores across 13 countries, with plans to open new stores in New Zealand, Egypt, Bangladesh, and more locations in Europe. It will strengthen its presence in existing markets such as the US, Canada, UK and Australia, with a target of opening 100 new stores by next year. The brand also aims to hire an additional 7,000 employees, increasing the workforce to 28,000.