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M.P. Ahammed: Founder and Chairman, Malabar Gold & Diamonds
29/10/2025
M.P. Ahammed: Professional Profile
Personal Background
Born on November 1, 1957, in Kozhikode, Kerala, M.P. Ahammed is a leading Indian entrepreneur and the founder-chairman of Malabar Gold & Diamonds—one of the world’s largest jewellery retail networks. At 68, he oversees a global business empire with revenues exceeding ₹62,000 crore ($7.5 billion). He is married to K.P. Subaida and has two children, including Shamlal Ahammed, the Managing Director of International Operations.
Education and Early Journey
Ahammed completed his schooling at Government High School, Kozhikode, and graduated with a Bachelor of Commerce from the University of Calicut. His entrepreneurial spirit emerged early—at 17, he launched an agro-products business dealing in spices and copra. The venture faced a major setback when a business partner defaulted, causing a ₹17 lakh loss, but Ahammed’s honesty and transparent approach earned lasting respect in business circles.
Founding of Malabar Gold & Diamonds
During market research in his hometown, Ahammed identified a gap in India’s jewellery sector: although gold was the preferred investment and gift, the market remained highly unorganized. In 1993, at age 36, he founded Malabar Gold with initial capital of ₹50 lakh, raised by selling personal assets and securing investments from seven relatives. The first showroom opened in Kozhikode in a humble 200–400 sq. ft. space. By 2012, it was rebranded as Malabar Gold & Diamonds, symbolizing its growing international presence.
Business Expansion and Growth
Under Ahammed’s leadership, Malabar has grown into a truly global brand with over 400 showrooms across 14 countries—including India, the UAE, Saudi Arabia, Singapore, the USA, and the UK—and a workforce of more than 25,000 employees. The group operates 14 manufacturing facilities producing 40.68 tonnes of gold jewellery and 3.61 lakh carats of diamond jewellery annually.
From revenues of ₹5 million in 1993, the company recorded ₹62,000 crore in FY 2024–25 and targets ₹76,000–78,000 crore for FY 2025–26. According to Deloitte, Malabar ranks 19th among global luxury goods firms and 5th–6th among the world’s largest jewellery retailers.
Industry Innovations
Ahammed is credited with transforming India’s jewellery industry. He introduced BIS-hallmarked jewellery to Kerala in 1999, setting new standards for quality and trust. He actively supported the Hallmark Unique Identification (HUID) system for purity and product traceability.
Malabar pioneered the “One India One Gold Rate” initiative, ensuring uniform gold pricing across stores, and strengthened customer confidence with lifetime maintenance, 100% gold-value buyback, and complimentary jewellery insurance.
Corporate Social Responsibility
Ahammed’s belief in giving back is central to his business philosophy. Through the Malabar Charitable Trust, established in 1999, he allocates 5% of net profits to CSR—well above the national requirement of 2%. So far, over ₹263 crore has been invested in social programs, with ₹150 crore earmarked for FY 2025–26.
Major CSR programs include the Hunger-Free World project serving 70,000 meals daily across India and Zambia; a National Scholarship Programme supporting 21,000 girl students annually with ₹16 crore; 716 Micro-Learning Centers reaching over 32,000 underprivileged children; the Grandma Home initiative caring for elderly women; and a housing program that has built 20,177 homes for more than 100,000 people.
Leadership Philosophy and Vision
Guided by values of trust, transparency, and social commitment, Ahammed believes that “if one person earns from society, one should give back to society too.” His inclusive leadership promotes ethical governance, employee stock ownership, and sustainable business growth.
Malabar’s global strategy operates under the vision “Make in India, Market to the World,” celebrating Indian craftsmanship while scaling internationally.
Awards and Recognition
Ahammed and Malabar have been honoured with several prestigious awards, including the Retail Jeweller India Award (2017), the India Gold Conference Responsible Jewellery House Award (2023–24), and the Legal Era—Indian Legal Awards for Compliance and Risk Management Excellence. The company also received dual accolades at the 48th India Gem & Jewellery Awards (IGJA) 2021. In 2024, Ahammed was listed among the Top 100 Influential Indian Muslims.
Future Outlook
Looking forward, Ahammed envisions Malabar Gold & Diamonds becoming the world’s top jewellery retailer by 2030. The company plans an IPO between 2027 and 2028 and aims to launch 90 new stores—60 in India and 30 overseas. Expansion into lab-grown diamonds, alongside traditional natural diamond lines, reflects his vision for responsible innovation and sustainable luxury. Rooted in ethical values and social stewardship, M.P. Ahammed continues to strengthen Malabar’s legacy as a global symbol of trust and excellence.
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