Kerala-based entrepreneur M P Ahammed was not always a well-known businessman, at least not until he founded Malabar Gold and Diamonds. His spices business had not met with much success, and he was looking to start something new. "A retailer in Mumbai who owed a sizable amount to me pledged to repay his dues by selling his brand. That incident made me aware of the market value of an established brand," said Ahammed.
With an intention of building a powerful brand, he set upon extensive research to find a business that fit the bill. His study uncovered that jewellery was the one unorganised sector of which people were notably proud. He decided to venture into this industry and promote his native region of Malabar.
And so, in 1993, he began his journey with a 400 sq. ft store in Kozhikode in Northern district in Kerala. Persuasive e orts of seven relatives, coupled with the bold decision to liquidate his assets, Ahammed amassed an initial capital of `50 lakh to kickstart the business.
Today, the company is a global success—Malabar Gold and Diamonds is recognised as the world’s sixth-largest jewellery group and the 19th in Deloitte’s Luxury Goods global ranking.
Over its three-decade journey, the jewellery retail chain has shrewdly capitalised on the decentralised structure of India’s jewellery industry, turning it to its advantage.
The Rise
Denne historien er fra April 2024-utgaven av Images Retail.
Start din 7-dagers gratis prøveperiode på Magzter GOLD for å få tilgang til tusenvis av utvalgte premiumhistorier og 9000+ magasiner og aviser.
Allerede abonnent ? Logg på
Denne historien er fra April 2024-utgaven av Images Retail.
Start din 7-dagers gratis prøveperiode på Magzter GOLD for å få tilgang til tusenvis av utvalgte premiumhistorier og 9000+ magasiner og aviser.
Allerede abonnent? Logg på
Retail Sector Records Strongest Hi Leasing in 5 years: CBRE
Leasing in Bengaluru, Chennai, and Delhi-NCR accounted for 59% share during Jan-June 2024.
Lulu Mall Bengaluru Welcomes 5 New Brands
Lulu Mall, Bengaluru, operated by the multinational developer Lulu Group, has expanded its portfolio by welcoming five new retail brands, the company wrote on social media.
Gujarat gets its First IMAX at Palladium Ahmedabad
Mumbai-based PVR Cinemas opened a new theatre at Palladium Ahmedabad, a social media post by a company official.
Budget 2024-2025: What's in it for Retail?
An overview of all the retail ecosystem-related measures in the Budget 2024-2025 revealed by Finance Minister Nirmala Sitharaman in her 7th budget speech.
Identity As a Service (IDAAS) Simplified
An explainer on Identity and Access Management-As-A-Service (IDaaS) in the context of retail.
6 Ways in Which D2C Brands are Redefining Physical Stores
From quirky fixtures to restageable elements, D2C brands do it differently when they open brick-and-mortar stores
What Innovation Means for Different Leaders
A look at how representatives of different retail categories define innovation and how they approach and implement it in their businesses.
Elevating Experience Through Omnichannel Retail Strategies
Here's how retailers are blending online and offline to offer seamless and personalised customer experience.
How to Improve Customer Engagement with Generative AI
Ways in which retail businesses can embrace generative AI to create hyper-personalised, seamless conversations to secure a lasting competitive edge in the marketplace.
'Customers Do Not See Shoppers Stop.com as Just Another e-commerce Site'
Sreekanth Chetlur, Chief e-commerce Officer, Shoppers Stop speaks about the three-decadeold physical-first department store chain's e-commerce journey, goals and strategies
