The company’s aim is to adapt to rising gold prices and evolving consumer preferences with its new offering, but it has not yet set a timeline for the venture. The company is evaluating consumer interest in LGDs and how best to position itself in the space
New Delhi: Malabar Gold & Diamonds is considering an entry into the emerging lab-grown diamond (LGD) market with a distinct branding strategy, as the company adapts to evolving consumer preferences and rising gold prices.
According to media reports, M.P. Ahammed, Chairman ofThe Malabar Group, said that the company is evaluating consumer interest in lab-grown diamonds and how best to position itself in the space. “We want to come in with a different proposition with a separate identity and not mix it with natural diamonds, as customers are different. We will formalize something,” Ahammedsaid on the sidelines of a press conference in New Delhi, the report said.The Malabar Group has not announced a time-frame for its venture.
The company’sendeavour is to take more market-share by coming up with different categories of products, and offering jewellery in 18-carat and 14-carat designs to offer value-conscious customers more options.If the LGD venture materializes, the Malabar Group would be among other national jewellery chains in India to enter this space.
India’s overall diamond market is estimated at $6.2 billion in FY25, with lab-grown diamonds accounting for just $0.4 billion. Both segments are expected to grow, with natural diamonds projected to reach $8.6 billion and lab-grown $0.6 billion by FY28.
Malabar Group allocates Rs 150 crore to scale up CSR initiatives
Meanwhile, the Malabar Group, parent company of Malabar Gold & Diamonds, has allocated Rs 150 crore in 2025-26 for scaling up its CSR initiatives focused on healthcare, education, hunger and poverty alleviation, women’s empowerment, environment protection and housing for the less privileged.
Under its flagship CSR initiative ‘The Hunger Free World’, the Group has committed to distribute 70,000 meals daily in India and Zambia to the under-privileged, totalling 2.50 crore meals in 2025-26. The initiative is aligned with the United Nations’ Sustainable Development Goal 2 – Zero Hunger.
At an event held at the Dr Ambedkar International Centre, Janpath, New Delhi on May 28, 2025 which also marks the World Hunger Day, Dr Amitabh Kant, former CEO of NITI Aayog & G-20 Sherpa launched the next phase of the Group’s CSR programmes in the presence of M.P. Ahammed, Chairman of Malabar Group; KP Abdul Salam, Vice Chairman; O Asher, Managing Director of India Operations; Group Executive Directors Nishad A K and K P Veerankutty; and others.
Commenting on the initiative, MP Ahammed, Chairman of Malabar Group said, “We reaffirm our pledge to stand with the underserved through sustained and impactful action. While we are doing our utmost, a greater impact can be achieved if more organisations join this mission. With 295 million people globally facing acute hunger (as per UN data), immediate action is non-negotiable. This urgency drives our meal distribution efforts under the Hunger Free World initiative. Along with food distribution, the need of the hour is concerted efforts to boost production, creating jobs, and fostering economic growth to bring in sustainable change.”
Under its educational and social welfare initiative, Malabar Group has established 716 micro-learning centres across India, providing primary education and nutrition to street children. The Group has also launched an initiative called Grandma Homes under which shelters have been built to offer free accommodation and care for destitute women. It has also launched the Uyirppu Project which supports higher education for children affected by last year’s landslide in Wayanad.
Malabar Gold & Diamonds was established in 1993 and is the flagship company of Malabar Group, a leading diversified Indian business conglomerate. The company operates over 390 stores across 13 countries,in addition to multiple offices, design centres, wholesale units, and factories spread across India, the Middle East, the Far East, the USA, the UK, Canada & Australia. It reported an annual turnover of $6.2 billion in calendar year 2024.The company aims to open at least 50 new stores in India this fiscal to expand its retail footprint further.
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