Malabar Gold and Diamonds
Company History
Malabar Gold and Diamonds History: Founding, Growth & Key Milestones
Founded 1993 in Kozhikode, India
When was Malabar Gold and Diamonds founded?
Malabar Gold and Diamonds was founded in 1993 in Kozhikode, India by M.P. Ahammed, making it 33 years old.
- Founded
- 1993
- Founding place
- Kozhikode, India
- Founders
- M.P. Ahammed
- Headquarters today
- Kozhikode, Kerala, India
- Milestones documented
- 10 (1993–2026)
- Current CEO
- M.P. Ahammed
| Year | Event |
|---|---|
| 1993 | First Showroom Opens in Kozhikode, Kerala: M.P. Ahammed and founding partners establish the first Malabar Gold showroom in Kozhikode with 50 lakh in capital, introducing transparent gold purity practices. |
| 2000 | Pioneering 100% BIS Hallmarked Jewellery: Becomes one of the first jewellers in India to sell exclusively Bureau of Indian Standards (BIS) hallmarked 916 gold, years before hallmarking was legally mandated. |
| 2008 | Inauguration of First International Store in Dubai: Malabar Gold opens its first international showroom in the historic Dubai Gold Souk, UAE, commencing its multi-billion-dollar Middle Eastern expansion. |
| 2013 | Entry into Singapore and Malaysia: Expands into Southeast Asia with flagship showrooms on Little India's Serangoon Road in Singapore and Jalan Masjid India in Kuala Lumpur. |
| 2018 | Debut in the United States: Opens its first North American showroom in Chicago (Devon Avenue), followed by expansions into Dallas, New Jersey, and Artesia (Los Angeles). |
| 2020 | Launch of 'One India One Gold Rate' Campaign: Introduces uniform gold pricing across all Indian states, ending state-level price discrepancies and giving consumers complete price certainty. |
| 2023 | Launch of First UK Showroom in London: Inaugurates its flagship UK store on Green Street, London, marking Malabar's official retail entry into the European continent. |
| 2024 | FY2023-24 Turnover Passes ₹50,000 Crore: reports ~$5.94 billion (₹51,218 crore) global retail turnover with 345 stores in 13 countries. |
| 2025 | 400th Showroom Opens in Noida: targets ~$9.05 billion (₹78,000 crore) turnover for FY2025-26. |
| 2026 | Passes 425 showrooms and announces 20 new Indian stores for ~$183 million (₹1,580 crore). |
- Where was Malabar Gold and Diamonds founded?
- Malabar Gold and Diamonds was founded in Kozhikode, India in 1993.
- Who founded Malabar Gold and Diamonds?
- Malabar Gold and Diamonds was founded by M.P. Ahammed.
- When did Malabar Gold and Diamonds start?
- Malabar Gold and Diamonds was founded in 1993.
- How old is Malabar Gold and Diamonds?
- Malabar Gold and Diamonds is 33 years old as of 2026.
Founding Story
In 1993 M.P. Ahammed, then trading spices and copra in Kozhikode, pooled money with relatives and co-investors to open a small jewellery store. He focused on what local customers distrusted most: gold purity and hidden charges. Clear pricing and purity guarantees became the brand's core promise as it grew.
Founders
M.P. Ahammed
M.P. Ahammed is the founder and chairman of Malabar Group. A former spice and copra trader from Kozhikode, he opened the first Malabar Gold showroom there in 1993 with relatives and co-investors. He built the brand on hallmarked gold and itemised pricing, took it to the Gulf in the 2000s and later to North America, the UK and Australia, growing it to 425+ showrooms by 2026. (Exact birth year remains publicly undisclosed).
Key Milestones
First Showroom Opens in Kozhikode, Kerala: M.P. Ahammed and founding partners establish the first Malabar Gold showroom in Kozhikode with 50 lakh in capital, introducing transparent gold purity practices.
Source: en.wikipedia.orgPioneering 100% BIS Hallmarked Jewellery: Becomes one of the first jewellers in India to sell exclusively Bureau of Indian Standards (BIS) hallmarked 916 gold, years before hallmarking was legally mandated.
Source: en.wikipedia.orgInauguration of First International Store in Dubai: Malabar Gold opens its first international showroom in the historic Dubai Gold Souk, UAE, commencing its multi-billion-dollar Middle Eastern expansion.
Source: en.wikipedia.orgEntry into Singapore and Malaysia: Expands into Southeast Asia with flagship showrooms on Little India's Serangoon Road in Singapore and Jalan Masjid India in Kuala Lumpur.
Source: en.wikipedia.orgDebut in the United States: Opens its first North American showroom in Chicago (Devon Avenue), followed by expansions into Dallas, New Jersey, and Artesia (Los Angeles).
Source: en.wikipedia.orgLaunch of 'One India One Gold Rate' Campaign: Introduces uniform gold pricing across all Indian states, ending state-level price discrepancies and giving consumers complete price certainty.
Source: en.wikipedia.orgLaunch of First UK Showroom in London: Inaugurates its flagship UK store on Green Street, London, marking Malabar's official retail entry into the European continent.
Source: en.wikipedia.orgFY2023-24 Turnover Passes ₹50,000 Crore: reports ~$5.94 billion (₹51,218 crore) global retail turnover with 345 stores in 13 countries.
Source: retail.economictimes.indiatimes.com400th Showroom Opens in Noida: targets ~$9.05 billion (₹78,000 crore) turnover for FY2025-26.
Source: retail.economictimes.indiatimes.comPasses 425 showrooms and announces 20 new Indian stores for ~$183 million (₹1,580 crore).
Source: retail.economictimes.indiatimes.comKeep researching Malabar Gold and Diamonds
Malabar Gold and Diamonds Company History FAQ
What are the major historical milestones of Malabar Gold & Diamonds from 1993 to today?
Milestones include opening first Calicut showroom (1993), pioneering 916 gold hallmarking (2001), expanding across South India (2005), opening first overseas showroom in Dubai (2008), 100th showroom milestone (2013), launch of 'One India One Gold Rate' (2020), ~$5.94 billion (₹51,218 crore) turnover (FY2023-24), the 400th showroom in Noida (June 2025) and 425+ showrooms (March 2026).
How did Malabar transform the Indian gold jewelry market with 916 hallmarking?
In 2001, Malabar became the first jeweler in Kerala to introduce BIS 916 hallmarked jewelry and install public Karatmeters in stores, setting an industry benchmark for gold purity that forced competitors to adopt transparent hallmarking standards.
How did Malabar expand across North America and Europe between 2022 and 2024?
Between 2022 and 2024, Malabar inaugurated landmark flagship showrooms in North America (Dallas, Chicago, New Jersey, Los Angeles, Toronto) and Europe (London Southall), catering to large South Asian diaspora demand.
How did Malabar adapt during the 2020 COVID-19 pandemic?
During global lockdown closures in 2020, Malabar safeguarded all employee salaries without layoffs, launched digital video shopping consultations, accelerated 'One India One Gold Rate', and distributed millions of food packets and medical supplies via its CSR network.
What is Malabar's ultimate corporate vision for the global jewelry industry?
Malabar's ultimate vision is to become the world's number one jewelry retail brand by store count and turnover, promoting the glory of Indian handcrafted jewelry on the global stage while practicing uncompromising ethical transparency.
How did Malabar Gold start?
Malabar Gold & Diamonds was founded in 1993 in Kozhikode (Calicut), Kerala, by M.P. Ahammed. Originally an agricultural spice merchant, Ahammed realized that the massive Indian retail gold market was entirely dominated by unorganized, family-run shops that often cheated customers on gold purity. He gathered a group of local investors to launch a highly transparent, corporate jewelry showroom, instantly winning massive public trust.
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