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Malabar Gold and Diamonds solves pricing confusion with nationwide Fair Price Promise



Malabar Gold and Diamonds solves pricing confusion with nationwide Fair Price Promise

A customer for a luxury item is hardly impressed by pricing intricacies, and this is a pain point that the jewellery industry has endured since ages. We are talking about making charges and ancillary pricing mechanisms that often confuse an amateur customer with a decent buying appetite. Malabar Gold and Diamonds has tried to solve that pain point with their Fair price promise.

Brand ambassador Anil Kapoor leads the way into the grand promotion that the brand has done on its fair price promise. The several video commercials involving film and television actors touch upon the various common customer queries in jewellery. The commercials break the myth around varying gold rates, discounts, gold purity, jewellery maintenance, and making charges, all through an uniform gold rate. The two commercials have raked in over 3.5K and over 5K views on Instagram respectively.

Commenting on the policy, Ahammed MP, Chairman, Malabar Gold and Diamonds, said, “Making charges has always been a bone of contention between customers and jewellers. A section of jewellers quotes higher making charges as a ploy to lure the customers by subsequently offering discounts in the making charges. There is a lack of transparency in quoting making charges and customers, in some cases, haggle a lot to extract a deal from jewellers.

“Under Fair Price Promise, we offer reasonable and transparent making charges at all our showrooms across the country. It eliminates bargaining on making changes and adds to the pleasure and convenience of buying jewellery. Under the initiative, customers can buy jewellery with value addition starting from 2.9 percent onwards.”

The brand has launched Fair Price Promise in 2021 and has been receiving great responsesfrom customers who prefer transparency, assurance and convenience while buying jewellery.  The brand is delivering on these parameters and is setting a string example of transparency to the entire Indian gem and jewellery pricing system.


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