Kolkata, 19 February 2024: Malabar Gold & Diamonds, a prominent name in the jewellery retail sector, has achieved a remarkable feat by securing the 19th position in Deloitte’s Global Powers of Luxury Goods 2023 ranking. Additionally, the brand has clinched the top spot in India, underscoring its leadership in the country’s luxury market.
The Deloitte Global Powers of Luxury Goods ranking evaluates the global sales and brand value of various luxury products, including jewellery, apparel, watches, and beauty items. Malabar Gold & Diamonds’ impressive performance in both global sales and brand value has propelled it to this esteemed position, marking a significant milestone for the brand.
Deloitte’s report sheds light on the evolving landscape of India’s jewellery retail sector, the world’s second-largest market, where Malabar Gold & Diamonds has emerged as a frontrunner. With three decades of excellence under its belt, the brand offers an extensive collection encompassing contemporary and traditional jewellery styles. Its steadfast commitment to quality, transparency, and customer satisfaction has solidified Malabar Gold & Diamonds’ position as a beloved choice among consumers.
M. P Ahammed, Chairman of Malabar Group, expressed gratitude for the recognition, stating, “We are deeply honored to receive global acclaim from Deloitte. This achievement underscores our unwavering dedication to excellence and customer-centric values. We remain steadfast in our pursuit of innovation and setting new industry benchmarks.”
Malabar Gold & Diamonds is renowned for its Fair Price Promise, ensuring transparent and fair pricing for customers. The brand’s initiatives like the One India One Gold Rate scheme ensure uniform pricing for gold across its Indian stores. Additionally, the brand offers the ’10 Malabar Promises,’ encompassing various assurances such as transparent pricing, lifetime free maintenance, buyback guarantee, and responsible sourcing practices.
With a global network of over 340 stores across 13 countries, Malabar Gold & Diamonds is committed to social responsibility, allocating five percent of its profits to various initiatives as part of its social responsibility program.
Established in 1993, Malabar Gold & Diamonds is the flagship company of Malabar Group, a leading Indian conglomerate. With an annual turnover of $5.2 billion, the brand ranks as the 6th largest jewellery retailer globally. Its extensive retail network spans across multiple countries, offering customers access to exquisite jewellery and unmatched service.
ESG (Environmental, Social & Governance) forms a cornerstone of Malabar Group’s ethos, with a focus on health, housing, hunger eradication, education, environment, and women empowerment. The group’s commitment to responsibility and sustainability is reflected in its contributions towards various social initiatives, demonstrating its dedication to being a socially conscious organization.
In conclusion, Malabar Gold & Diamonds’ ascent to the 19th position in Deloitte’s Global Luxury Ranking and its status as India’s top luxury brand underscore its unwavering commitment to excellence, transparency, and social responsibility. As the brand continues to innovate and expand its footprint globally, it remains poised to redefine the standards of luxury in the jewellery retail industry.
