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6 Jewellers Who Rule the Indian Gold Market

By SiliconIndia   |   Friday, May 3, 2013   |    3 Comments
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1. Malabar Gold & Diamonds
Chairman: MP Ahamed
Turnover: Rs.12,000 crore
Key Business Fact: Among top 5 jewellers in the world
USP: Value for money

He had no idea that one day he will be among the top five jewellers in the world. Hailing from a farmer family and starting his carrier ice-making factory, MP Ahamed, Chairman, Malabar Gold has an annual turnover of around Rs.12,000 crore.

At the age of 36, Ahamed was advised to try his hand in the gold trading business. Ahamed, a high school graduate took his chances. "I started with the Rs.50 lakh I had earned from my business and opened the first Malabar Gold & Diamonds showroom at Calicut," says Ahamed.

Ahmed recalls that when he started the business, there were frequent unfair trades practices, which he made a key point and launched the first 100 percent BIS hallmarked jewellery.

Understandin the importance of a brand image, market savvy Ahamed hired global branding agency Brand Union to develop a unique corporate image to make a mark in the overseas market.Currently Malabar Gold has 82 outlets, 52 in India and 30 in Gulf countries.

Also Read:
Art of Persuasion: The Success Mantra for Smart Leaders

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