Staff Reporter : Kolkata, 21st. February 2024: Malabar Gold & Diamonds, one of the leading jewellery retailers, secures the 19th position in Deloitte’s Global Powers of Luxury Goods 2023 ranking. The brand has also secured the top spot in India, reaffirming its dominance in the country’s luxury market.
The Deloitte Global Powers of Luxury Goods ranking list is compiled by assessing the global sales and brand value of jewellery, apparel, watches, and beauty products. Malabar Gold & Diamonds’ exceptional performance in global sales and brand value has propelled it into this distinguished list, marking a significant milestone for the brand.
Deloitte’s report highlights the dynamic changes in India’s jewellery retailing sector, the world’s second-largest market, where Malabar Gold & Diamonds has emerged as a front runner. Celebrating thirty years of excellence, the brand boasts an extensive collection of both contemporary and traditional jewellery styles. Its commitment to reliability and authenticity has earned Malabar Gold & Diamonds a coveted position as a consumer favourite.
M. P Ahammed, Chairman, of Malabar Group, expressed his gratitude, stating, “We are honoured to be recognised on the global stage by Deloitte. This achievement is a testament to our unwavering commitment to quality, transparency, and customer satisfaction. We remain dedicated to pushing boundaries and setting new benchmarks in the industry.”
Malabar Gold & Diamonds is renowned for its commitment to transparency and fairness in pricing. As part of its Fair Price Promise, the brand ensures that customers can purchase their favourite jewellery at reasonable making charges. Furthermore, the brand offers the One India One Gold Rate scheme, ensuring uniform pricing for gold across all its stores in India. Strengthening the brand’s commitment to its customers, Malabar Gold & Diamonds offers 10 Malabar Promises. The promises include transparent price tag indicating stone weight, net weight, and stone charge of the jewellery; assured lifetime free maintenance for the jewellery; 100% value for gold when reselling old gold jewellery; 100% HUID-compliant gold; IGI and GIA-certified diamonds ensuring a 28-point quality check of global standards, buyback guarantee; complimentary jewellery insurance, responsible sourcing; and fair labour practices.
Malabar Gold & Diamonds currently operates a global network of over 340 stores across 13 countries. A key highlight of the brand’s ethos is its dedication to social responsibility, with five percent of profits allocated to various initiatives as part of its social responsibility programme.
About Malabar Gold & Diamonds: Malabar Gold & Diamonds was established in 1993 and is the flagship company of Malabar Group, a leading diversified Indian business conglomerate. With an annual turnover of $5.2 billion, the company currently ranks as the 6th largest jewellery retailer globally and today has a strong retail network of over 340 stores spread across 13 countries in addition to multiple offices, design centers, wholesale units, and factories spread across India, Australia, Canada, the UK, the USA, the Middle East and the Far East. The group, owned by more than 4,000 shareholders, has more than 21,000 professionals from over 26 countries working towards its continued success. Malabar Gold & Diamonds also features an online store www.malabargoldanddiamonds.com providing customers the opportunity to purchase their favorite jewellery at any time and on any day from the comfort of their homes. The group also operates MGD – Lifestyle Jewellery, a retail concept offering trendy and light weight jewellery that represents the independent and the modern woman through its designs and collections.
ESG (Environmental, Social & Governance) has been the primary commitment of the group since its inception. The key ESG focus area of Malabar Group are Health, Housing, Hunger Free World, Education, Environment and Women empowerment. Integrating the principles of responsibility and sustainability into its core business, Malabar Group periodically strengthens its ESG goals to remain a socially conscious and responsible organization. The group contributes 5% of its profit to such initiatives in the same country of operation.
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