MUMBAI: The Kozhikode-headquartered Malabar Gold & Diamonds has been awarded the India Gold Conference (IGC) Responsible Jewellery House Award for 2023-24. according to an official releaase from Malabar Group.
This esteemed recognition highlights the company’s commitment to ethical sourcing and sustainability in the jewellery sector.
The award was presented to O Asher, Managing Director of Malabar Gold & Diamonds India Operations, by Dr Sundaravalli Narayanswamy, Chairperson of the India Gold Policy Centre, at a ceremony held in Bangalore.
Malabar Gold & Diamonds, one of the world’s largest jewellery groups, was honored for its dedication to procuring responsibly mined gold and diamonds, ensuring every piece of jewellery meets the highest standards of purity and integrity.
Ethically sourced
Malabar Group Chairman, MP Ahammed, expressed gratitude for the recognition and reaffirmed the company’s commitment to ethical practices, stating, “We are committed to ensuring that these precious materials are ethically sourced, from legitimate origins, free from exploitation.”
Malabar Gold & Diamonds operates 355 stores across 13 countries and employs around 21,000 people. The company is known for its ‘One India One Gold Rate’ initiative, ensuring uniform gold pricing across India.
Additionally, the Group has been a leader in corporate social responsibility, allocating 5 per cent of its profits to initiatives such as providing meals to those in need and supporting educational scholarships for girls.
$6.2bn turnover
Established in 1993, Malabar Gold & Diamonds is the flagship company of Malabar Group, with an annual turnover of $6.2 billion. It is the 6th largest jewellery retailer globally and is ranked 19th in Deloitte’s Luxury Goods World Ranking.
The company continues to expand its global presence while maintaining a strong focus on ESG (Environmental, Social, and Governance) and CSR initiatives.
