Malabar Gold and Diamonds

What Malabar Gold and Diamonds does

Malabar Gold & Diamonds is the flagship jewellery retail division of the India-based Malabar Group, founded in 1993 and headquartered in Kozhikode, Kerala. The company operates a vertically integrated model spanning jewellery design, in-house manufacturing, wholesale, franchising and direct retail, selling gold, diamond, platinum, gemstone and uncut (polki) diamond jewellery, plus investment-grade gold bars and coins. It serves individual consumers across primary use cases of weddings, festive purchases (notably Akshaya Tritiya and Ashada Shubha Labh), daily-wear diamond jewellery, and gold savings accumulation, with secondary segments including Non-Resident Indian (NRI) buyers in the Gulf and young/fashion-conscious domestic consumers.

The company distributes through a network of 445+ showrooms across 14 countries (India, UAE, USA, UK, Singapore, Malaysia, Australia, Canada, New Zealand and several Middle Eastern markets), operated via a franchise-ownership model involving 30+ partners, with a stated target of 1,000 showrooms globally by 2030. It runs an umbrella portfolio of branded sub-collections — Mine (a diamond joint venture with DTC sight-holder Mahendra Brothers), Precia, Era, Divine, Ethnix, Starlet, Nuwa, Vyana, Zoul, Enigma and Solitaire One — to address distinct price points, regional bridal traditions and contemporary design preferences. Technology stack is light on proprietary software: the principal technical differentiator is BIS HUID hallmarking, which encodes traceability back to the point of sale for lost-jewellery recovery.

Revenue is generated through transactional showroom sales priced at daily gold market rate plus making charges (typically 8–15% of gold value, discounted up to 30% during festive campaigns), gold exchange/recycling programmes with 0% deduction, monthly gold savings schemes (Rs 1,000+ instalments, 10–24 month tenures) and subscription-style gold rate protection plans (5–25% advance payment). Additional channels include US e-commerce, Dubai Gold District concierge home delivery (partnered with Kalyan Jewellers and Kanz) and gold bar/coin sales for investment buyers. Reported annual turnover stands at $9.41 billion (the most recent disclosed figure), with over 20,000 employees globally; a Rs 5,200–5,300 crore FY27 capex programme funds the next phase of expansion, supported by a Rs 200 crore CSR commitment. In July 2026, the Competition Commission of India approved a corporate restructuring merging 51 Malabar Group entities into Malabar Gold and Diamonds Ltd.

Name

Malabar Gold and Diamonds

Legal name

Malabar Gold And Diamonds Limited

Website

https://malabargoldanddiamonds.com

Company type

Private

Founded year

1993

Operating status

Operating

Headcount range

5,001–10,000 employees

Short description

Malabar Gold & Diamonds is a vertically integrated Indian jewellery retailer operating 445+ showrooms across 14 countries, selling gold, diamond, gemstone and uncut diamond jewellery plus gold bars to individual consumers in wedding, festive and daily-wear segments under multiple branded sub-collections including Mine, Precia, Era, Ethnix and Nuwa.

Ownership category

akta.pro rank

Product category

Jewellery Retail

NAICS

Jewelry Retailers (458310), Jewelry and Silverware Manufacturing (33991)

SIC

Retail-Jewelry Stores (5944), Wholesale-Jewelry, Watches, Precious Stones & Metals (5094)

akta.pro primary industry

Fine Jewelry Retail (Precious Metals & Gemstones) (CRAKAGAA)

akta.pro secondary industries

Diamond Jewelry (CRAKAAAA), Precious Metal Jewelry (Gold/Platinum/Silver) (CRAKAAAD)

Keywords

• Gold jewellery retail
• Diamond jewellery
• Precious metal retail
• Wedding bridal jewellery
• Investment gold products

Headquarters

HQ city

Mumbai

HQ country

India

HQ region

Asia

Offices1 record

Markets served

GTM type

B2C

Offering type

Services

Cost components

Operations, Personnel, Supply Chain, Marketing or Sales, Infrastructure

Revenue model

1. Jewellery Retail: Malabar Gold & Diamonds generates primary revenue through retail sales of gold, diamond, platinum, and gemstone jewellery across its global showroom network. The company operates a vertically integrated model spanning design, manufacturing, and consumer sales. Revenue is transaction-based with customers paying for gold content at daily market rates plus making charges.
2. Gold Exchange and Recycling: The company generates revenue from old gold exchange programs where customers trade existing jewellery for new purchases. Zero-deduction exchange schemes offer full value for old gold, with customers paying only the difference for new items.
3. Gold Bars and Investment Products: Sale of gold bars (1g to 100g) and gold coins through showrooms and the US Gold Purchase Program, generating revenue from precious metal sales.

Pricing tiers

Go-to-market motion1 record

Distribution channels3 records

Marketing channels6 records

Core offering

Malabar Gold and Diamonds retails gold, diamond, platinum, gemstone and uncut (polki) diamond jewellery through a vertically integrated model spanning design, manufacturing and showroom sales across 14 countries. Core revenue is generated from one-time jewellery transactions priced at daily gold rates plus making charges, supplemented by gold bar/coin sales, old-gold exchange at full value, monthly gold savings schemes, and certified diamond sales under exclusive sub-brands such as Mine, Nuwa, Precia, Era, Divine, Ethnix, Starlet, Zoul and Solitaire One.

Product overview

Malabar Gold & Diamonds operates as a vertically integrated jewellery retailer offering a comprehensive portfolio of gold, diamond, gemstone, and uncut diamond jewellery products. The company operates under multiple sub-brands including Mine Diamond Jewellery (joint venture with Mahendra Brothers), Precia Gold, Era Diamond, Divine Gold, Ethnix Designer, and Starlet Gold. Core product categories span gold jewellery (rings, earrings, pendants, chains, bangles, bracelets, necklaces, accessories), diamond jewellery, gemstone jewellery, uncut/polki diamond jewellery, and investment-grade gold bars and coins. The company also offers exclusive collections such as Nuwa (natural diamonds), Zoul, Legendz, Brides of India, and various other designer collections. Additional services include gold purchase/savings programs, lifetime maintenance, buyback guarantees, and easy exchange policies.

Differentiator

Problem solved

Functional benefit

Brands

• Mine: Diamond jewellery brand - joint venture between Malabar Gold & Diamonds and Mahendra Brothers (DTC Sight-holder), offering bridal, solitaire, and casual diamond jewellery in yellow gold, white gold and platinum with IGI and GIA certified diamonds.
• Nuwa
• Vyana
• Precia
• Era
• Divine
• Ethnix
• Starlet
• Viraaz
• Zoul
• Enigma
• Solitaire One

Products and services

• Gold Jewellery Core gold jewellery offering including rings, earrings, pendants, chains, bangles, bracelets, necklaces, mangalsutras and accessories in 18K, 22K and 24K, sold across physical showrooms globally to individual consumers for daily, bridal and festive wear.
• Diamond Jewellery Certified diamond jewellery (IGI and GIA) including rings, earrings, pendants, necklaces, bangles, bracelets, mangalsutras and nosepins, covering bridal, solitaire, daily-wear and fashion segments.
• Gemstone Jewellery Jewellery featuring coloured gemstones set in gold across rings, earrings, pendants, necklaces, bangles, bracelets and nosepins for daily wear, occasion wear and gifting.
• Uncut Diamond Jewellery Polki and uncut diamond jewellery including earrings, rings, pendants, necklaces, bangles, nosepins, mangalsutras and accessories, serving the traditional bridal and ethnic-wear segment.
• Gold Bars and Coins Investment-grade gold bars and coins in 1g, 2g, 2.5g, 4g, 5g, 8g, 10g, 20g, 50g, 100g and 1 ounce sizes, sold through showrooms and the US e-commerce site for personal investment.
• Mine Diamond Jewellery (JV with Mahendra Brothers) Exclusive diamond jewellery brand (joint venture with Mahendra Brothers) offering bridal, solitaire and casual diamond jewellery in yellow gold, white gold and platinum with IGI and GIA certified diamonds, targeted at design-conscious consumers and bridal buyers.
• Nuwa Natural Diamond Collection Natural diamond jewellery collection inspired by nature's patterns, crafted in 18kt and 14kt gold with coloured gemstones and modern finishes, targeting women seeking understated luxury and contemporary design.
• Zoul Diamond Collection Contemporary diamond jewellery collection in the exclusive collections portfolio, targeted at fashion-forward consumers seeking modern designs.
• Brides of India Bridal Collection Regional bridal jewellery collection including Maharashtrian, Punjabi, South Indian (Kerala-Ethnix) and other Indian bridal styles, designed for wedding trousseau purchases by brides and their families.
• Gold Purchase Program (USA monthly savings scheme) Monthly gold savings scheme in the USA allowing customers to accumulate gold through fixed monthly installments (from Rs 1,000) over 10–24 month tenures, with optional advance payment plans for gold rate protection and completion discounts on making charges.
• Old Gold Exchange Programme Zero-deduction old gold exchange service that gives customers full value for their existing jewellery toward new purchases, available across the global showroom network.
• Lifetime Maintenance Service Lifetime jewellery maintenance service (cleaning, polishing, repair) for jewellery purchased from Malabar Gold and Diamonds, available across more than 330 showrooms.

Quantifiable outcome

• Record $282 million Akshaya Tritiya sales with 53% year-on-year growth and engagement with over 125,000 customers globally
• +3 more outcomes

Named customers2 records

Segments4 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature1 record

Partnerships

Five partnerships are on record, tiered core, minor and major.

• Dubai Gold DistrictcoreChannel Partner/ Reseller/ Distributor · 8 April 2026Launched concierge home delivery service for gold and jewellery purchases. Enables customers to arrange private consultations with participating retailers and have items securely delivered to homes. Launched with Malabar Gold & Diamonds, Kanz, and Kalyan Jewellers, with additional retailers expected to join.
• Kalyan JewellerscoreChannel Partner/ Reseller/ Distributor · 8 April 2026Partner retailer in Dubai Gold District home delivery service launch, alongside Malabar Gold & Diamonds and Kanz.
• Kanz JewelsminorChannel Partner/ Reseller/ Distributor · 8 April 2026Partner retailer in Dubai Gold District home delivery service launch.
• Mahendra BrotherscoreStrategic or Co-development PartnerJoint venture partnership for 'Mine' diamond jewellery brand. Mahendra Brothers is one of the world's first and largest DTC Sight-holders from India. The partnership combines Malabar's retail reach with Mahendra's diamond sourcing and manufacturing expertise, offering EF-VVS graded diamonds certified by IGI and GIA.
• Pratham Education FoundationmajorStrategic or Co-development PartnerCSR partnership operates 1,543 micro-learning centres for street children across India as part of Malabar Charitable Trust's education initiative. Funded through 5% of Malabar Group's net trading profit, the program has impacted over 1.8 million people.

Scale indicators8 records

Recent moves11 records

Expansion highlights6 records

Direct peers

• Joyalukkas: Joyalukkas is a Kerala-based Indian-origin global jewellery retailer with showrooms across India, the Gulf, UK, US, and other markets, offering a similar gold and diamond product mix with a comparable franchise-style international expansion model.
• Titan Company (Tanishq): Tanishq is Titan's flagship jewellery brand and the dominant organized jewellery retailer in India with a comparable omnichannel retail model, gold and diamond product range, and similar bridal/festive consumer focus. It is the most direct competitive overlap with Malabar across India and increasingly international markets.
• PC Jeweller: PC Jeweller is an Indian listed jewellery retailer operating showrooms across India with a comparable gold and diamond portfolio, bridal focus, and hallmarking-led trust proposition. Comparable in product mix and customer segment, though smaller in scale.
• Tribhovandas Bhimji Zaveri (TBZ): TBZ is a heritage Indian listed jewellery retailer with a comparable premium gold and diamond jewellery assortment, hallmarking emphasis, and bridal customer focus, primarily competing in West India and metros.
• Senco Gold and Diamonds: Senco Gold is a listed Indian jewellery retailer with a strong East India presence and expanding national footprint, offering gold, diamond, and platinum jewellery with bridal/wedding customer focus. Directly comparable brand-led retail model.
• Kalyan Jewellers: Kalyan Jewellers is a listed Indian jewellery retailer with a comparable franchise/showroom model spanning India, Gulf, and other international markets. It directly competes with Malabar on bridal gold, diamond jewellery, and NRI corridor sales, including partnership in the Dubai Gold District home delivery initiative.

Broad incumbents

• Pandora: Pandora is a global jewellery brand known for silver and gold charm-based jewellery, operating through owned stores and wholesale. Comparable as a large-scale branded jewellery retailer with a strong omnichannel focus, though positioned in fashion rather than bridal gold.
• Signet Jewelers: Signet Jewelers is the world's largest retailer of diamond jewellery (Kay, Zales, Jared) operating primarily in the US and UK. Comparable as a large-scale speciality jewellery retailer with multi-brand portfolio, though operating in Western markets.
• Chow Tai Fook Jewellery: Chow Tai Fook is one of the largest listed jewellery retailers globally, headquartered in Hong Kong, with a broad gold, diamond, and platinum assortment and an extensive physical retail network. Comparable as a global jewellery incumbent though focused on Greater China.

Emerging players

• BlueStone Jewellery and Lifestyle: BlueStone is an Indian omnichannel fine jewellery retailer offering gold and diamond jewellery through digital and physical channels. Comparable premium positioning and millennial/Gen Z consumer focus, though currently smaller in scale and primarily India-focused.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat6 records

Key risks6 records

Key highlights7 records

Customer concentration

• Xx.com/Malabartweets
• Facebookfacebook.com/malabargoldanddiamonds
• LinkedInlinkedin.com/company/malabargroup

Revenue estimate

Valuation estimate

Number of profiles

Profiles4 records

Subsidiaries1 record

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Malabar Gold and Diamonds