Malabar Gold & Diamonds
Malabar Gold & Diamonds is an Indian jewellery group founded in Kerala in 1993, the flagship company of Malabar Group, operating retail showrooms across India and international markets.
Last updated October 17, 2026
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Overview
Malabar Gold & Diamonds is an Indian jewellery group headquartered in Kozhikode, Kerala. Founded in 1993 by M. P. Ahammed, the business developed from a regional gold retailer into an international jewellery network with operations spanning India, the Middle East and other overseas markets. Its core business is the retailing of gold, diamond and precious-stone jewellery, supported by related jewellery services and showroom-based customer sales. Before founding the jewellery business, Ahammed was involved in trading spices and copra. He established Malabar Gold in Kozhikode with capital reported in the source material as ₹50 lakhs. The company began a significant expansion phase around 2000 and entered the Middle Eastern market in 2008. That international move aligned the company with the large Indian diaspora and jewellery-buying markets of the Gulf, where gold ornaments and wedding jewellery are major retail categories. The brand's offer is built around traditional and contemporary jewellery, with gold as its principal material and diamonds and other precious stones forming important adjacent categories. Its retail proposition combines a broad showroom assortment with regional design preferences, wedding-oriented purchasing and the familiarity of an Indian jewellery specialist. The company is also associated with the Malabar Group, although the available reference material does not specify a separate legal parent, ownership structure or public listing. By May 2023, the company was reported to have more than 330 showrooms in 11 countries. Its scale placed it among the larger Indian-origin jewellery retailers with an international footprint. Deloitte's 2022 Global Powers of Luxury Goods ranking placed Malabar among the world's luxury-goods companies; the cited figure reported revenue of approximately US$4.024 billion for the period covered by that ranking. Because the available material does not provide audited financial statements or a detailed corporate reporting history, that figure should be treated as a reported ranking metric rather than a complete financial profile. The brand has also faced reputational issues. In 2016, celebrations at its United Arab Emirates branches for Pakistan's Independence Day generated controversy. In 2025, an influencer associated with the promotion of the Birmingham showroom became the subject of criticism after older political posts resurfaced. Malabar said the influencer had been engaged through an agency, that it had not known about the posts, and that it had ended the relationship. The Bombay High Court subsequently ordered the removal of defamatory social-media posts connected with the dispute. A separate 2026 report alleged that a Bilaspur showroom had sold jewellery marked or represented as 22-carat that tested at 20 carats; police reportedly registered an FIR. The available material does not establish the final legal or regulatory outcome of that allegation.
History
Malabar Gold & Diamonds was established in 1993 in Kozhikode, Kerala, by M. P. Ahammed. Before entering jewellery retail, Ahammed had traded spices and copra, the dried kernel of the coconut. The source material states that he founded Malabar Gold at the age of 36 with capital of ₹50 lakhs. The company's initial identity was rooted in the Malabar region of Kerala and in the strong Indian consumer tradition of purchasing gold for weddings, festivals, savings and family ceremonies. The business began a broader expansion from around 2000. By 2005, it was reported as a group worth ₹500 crore, reflecting growth beyond its original local base. The next major geographic step came in 2008, when Malabar expanded into the Middle East. The Gulf region offered a substantial customer base among Indian expatriates as well as established demand for gold jewellery. International expansion subsequently became a defining part of the company's model. Malabar's retail activity centers on gold and diamond jewellery, with additional precious-stone and occasion-oriented ranges. Its product mix covers traditional Indian designs, contemporary pieces and bridal jewellery. Showrooms are important to the brand's customer experience because jewellery purchases often involve comparison of designs, assessment of workmanship and consultation about weddings or other major events. The available reference material does not provide a detailed account of manufacturing facilities, sourcing policies, franchise arrangements or digital-commerce operations, so those aspects cannot be described reliably here. By May 2023, Malabar Gold & Diamonds was reported to operate more than 330 showrooms across 11 countries. This footprint made it one of the prominent Indian-origin jewellery retailers with a substantial overseas presence. In Deloitte's 2022 Global Powers of Luxury Goods report, the company was ranked 19th among the listed luxury-goods companies, with reported revenue of approximately US$4.024 billion for the relevant reporting period. The available material does not identify a stock exchange listing, ticker, separate parent company or detailed ownership structure. The company has experienced several public controversies. In 2016, its United Arab Emirates branches attracted criticism after celebrating Pakistan's Independence Day. In 2025, a promotional association for the opening of the Birmingham showroom caused another reputational dispute when earlier political posts by influencer Alishba Khalid resurfaced. Malabar stated that an agency had arranged the engagement, that the company had not known about her origin and remarks, and that it had already ended her services. The Bombay High Court ordered the removal of defamatory posts related to the controversy. In 2026, a Bilaspur outlet was reported to have faced allegations involving jewellery represented as 22-carat but testing at 20 carats. An FIR was reportedly filed, although the supplied material does not state whether the allegation was proven or resolved. The brand remains active as an international jewellery retailer. Its development has been shaped by regional roots, Gulf expansion, a large showroom network and continued emphasis on gold, diamonds and wedding-related purchases.
- 2023
More than 330 showrooms reported
[1]The company is reported to own more than 330 showrooms across 11 countries as of May 2023.
- 2008
Entry into the Middle East
[1]Malabar Gold expands its operations into the Middle Eastern market.
- 2005
Group value reported at ₹500 crore
[1]The company was reported as a group worth ₹500 crore.
- 2000
Expansion phase begins
[1]The company begins a sustained expansion of its jewellery business and retail presence.
- 1993
Malabar Gold is founded in Kozhikode
[1]M. P. Ahammed establishes Malabar Gold in Kozhikode, Kerala, with reported starting capital of ₹50 lakhs.
- 1993
Malabar Gold & Diamonds established
International retail and operating network reported
[3]The official About page reports more than 445 showrooms across 14 countries, with offices, design centers, wholesale units and factories in India, the Middle East, the Far East, the USA, the UK, Canada, Australia and New Zealand, and characterizes the company as the fifth-largest jewellery retailer globally.
Products and positioning
An Indian-origin jewellery specialist positioned around gold and diamond expertise, broad showroom choice, wedding and occasion jewellery, and service to customers in India and international diaspora markets. An international jewellery retailer whose official brand presentation emphasizes gold and diamond jewellery, bridal collections, customer service assurances, transparent pricing, and responsible business practices. An Indian-origin jewellery specialist and flagship of Malabar Group, positioned around gold and diamond expertise, bridal and occasion jewellery, broad showroom choice, customer service assurances, transparent pricing and responsible business practices, serving customers in India and international diaspora markets.
Gold jewellery · 1993
Gold jewellery
Gold jewellery is the brand's central product category. The assortment serves everyday purchases as well as weddings, festivals and other ceremonial occasions, with designs reflecting Indian regional preferences and conventional gold-buying practices. A core product category featured on the official website.
Diamond jewellery
Diamond jewellery
Diamond jewellery forms a major complementary category to the company's gold business. It includes jewellery combining precious metals with diamonds for bridal, occasion and contemporary use. The available sources do not specify individual collection names. A core product category featured on the official website.
Wedding jewellery
Bridal jewellery
Bridal jewellery is directed at wedding purchases, a significant part of jewellery demand in India and among South Asian communities overseas. The category includes traditional and occasion-focused gold and diamond designs, and the website presents bridal collections and bride-oriented edits.
Gemstone jewellery
Precious-stone jewellery
The company also sells jewellery incorporating precious stones beyond diamonds. Specific stones, collection names and product-level launch dates are not identified in the supplied reference material.
Jewellery
Jewellery for women, men, and children
The official website presents designs for women, men and children as shopping categories.
Gifting
Jewellery gifts
Gifting is presented as a shopping category on the official website.
Controversies
2026
Bilaspur carat-allegation case
A Bilaspur showroom was accused of selling jewellery represented as 22-carat that allegedly tested at 20 carats. The supplied source reports an FIR against several individuals, but does not provide a final determination.
2025
Birmingham influencer controversy
The brand faced boycott calls after political comments by a Birmingham showroom promotional influencer resurfaced. Malabar said the engagement had been arranged through an agency and that the influencer's services had been terminated. The Bombay High Court ordered deletion of defamatory social-media posts related to the dispute.
2016
UAE Pakistan Independence Day controversy
Malabar's UAE branches were criticized for celebrating Pakistan's Independence Day, generating public controversy around the brand's regional activities.
Marketing campaigns
- 2025Birmingham showroom influencer promotion
United Kingdom
Malabar engaged London-based influencer Alishba Khalid through an agency to promote the inauguration of its Birmingham showroom. After earlier political posts by the influencer resurfaced, the company said it was unaware of them and had discontinued her services. The controversy led to boycott calls and related court action concerning defamatory posts.
Outcome. After earlier political posts by the influencer resurfaced, the company said it was unaware of them and had discontinued her services. The controversy led to boycott calls and related court action concerning defamatory posts.
Brand decisions
2008
International expansion into the Middle EastStrategyBackground
After expanding its Indian business, Malabar sought overseas growth in a region with strong gold demand and a substantial Indian diaspora.
Action taken
The company opened or established operations in the Middle Eastern market.
Aftermath
The Middle East became part of Malabar's international showroom network.
Sources3 sources
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