Malabar Group invests 250 crore to set up the unit at a sprawling area of 1.75 lakh sq.ft
Kozhikode, March 4, 2023: Kicking off its year-long 30th-anniversary celebrations, Malabar Group, one of the largest gold and diamond retail chains of the in the world, today opened its modern integrated complex consisting jewellery manufacturing unit and design studio at Kakkancherry, Kerala. Shri Pinarayi Vijayan, Hon’ble Chief Minister of Kerala, formally inaugurated the state-of-the-art complex set up at a cost of Rs 250 crore.
Indian Union Muslim League (IUML) president Panakkad Sayyid Sadiq Ali Shihab Thangal presided over the function. Honourable Kerala PWD-Tourism Minister Shri Muhammed Riyas launched the new CSR website of the Group. Sports and Minorities Welfare Minister Shri V Abdurahiman inaugurated the cheque distribution of social service scheme. Former Industries Minister and the Deputy Leader of the Opposition Shri P K Kunhalikutty, Dr. Abdussamad Samadani, M.P, Shri T V Ibrahim, M.L.A, CPI (M) Malappuram district secretary Shri E N Mohandas, Malappuram DCC president Shri V S Joy, Malappaurm district president of BJP Shri Ravi Thelath and CPI Malappuram district secretary Shri P K Krishnadas offered felicitations at the event.
Malabar Group Chairman M P Ahammed, Vice Chairman K P Abdulsalam, Malabar Gold & Diamonds Managing Director (India Operations) O Asher, Group Executive Directors K P Veerankutty, A K Nishad, Corporate Heads R Abdul Jaleel, V S Shareej, V S Shafiq, SCM head N V Abdul Kareem, senior political leaders and senior officials from different departments were also among those who were present at the function.
Located at Kinfra Park, Kakkancherry in Malappuram district, the integrated jewellery unit has been set up at a sprawling area of 1.75 lakh sq. ft with an investment of Rs.250 crore. The unit is equipped with the latest technologies and facilities to ensure enhanced design and manufacturing output. The integrated facility also boasts of innovative modern technology to maintain zero-level of pollution and environment sustainability.
Around 600 people are currently employed in different divisions of the Kakkancherry facility. Once fully operational, the facility will offer employment to 1000 people including 250 women professionals. The facility has secured all necessary approvals from the concerned agencies including the State Pollution Control Board. It has also been certified by the National Environmental Engineering Research Institute (NEERI) of the Government of India.
The launch of the Kakkancherry facility marks the beginning of the year-long celebration of 30th anniversary of the Malabar Group which was set up in Kozhikode by a group of visionary entrepreneurs and went on to become one of the largest jewellery chains of the world.
Commenting on the inauguration, M P Ahammed, Chairman, Malabar Group said, "In line with the vision and the Group motto `Make in India, Market to the World’, we have set up the avant-garde integrated jewellery unit at Kakkancherry. It’s the most modern jewellery manufacturing unit in India with the latest technologies and facilities. I would like to thank the Hon’ble Chief Minister of Kerala, Shri Pinarayi Vijayan for gracing the occasion with his presence and inaugurating the facility. As we are on a mission to reintroduce inimitable Indian jewellery craftsmanship to India and across the world, the new facility will help us offer new design innovations to our customers, further enhance our design narrative and further elevate our design leadership in India and around the world.”
While inaugurating the facility, Shri Pinarayi Vijayan lauded Malabar for its CSR initiatives and contributions to improve the industrial climate of the State. “Malabar Group is ahead of others not just in business but also in taking up CSR activities for the welfare of the people. Its initiatives have helped improve the overall business climate in the State. There are many issues in the gold sector related to taxes. However, Malabar always stands apart from others and pay the taxes fully to support the State. This should be an inspiration to small and big business establishments,” the Chief Minister said.
Malabar Gold & Diamonds currently has 307 showrooms and 14 manufacturing units spread across India and abroad. Malabar Gold & Diamonds has made a mark with responsible sourcing of gold, diamonds and other precious metals and integrated manufacturing facilities ensuring quality standardization. It manufactures all required packing and designing materials in its in-house units and has its own design studio, training centre and R&D division to support the business growth. The group occasionally hires services from world-renowned consulting firms like Deloitte, E&Y, Accenture and IBM to manage and grow business efficiently.
While generating reasonable profits, the Malabar Group aims to create maximum employment opportunities. Currently, it has over 20,000 employees.
The Malabar Group has showrooms in India, the UAE, Bahrain, Kuwait, Malaysia, Oman, Qatar, Saudi Arabia, Singapore and the US. Plans are afoot to extend the footprint further to the UK, Bangladesh, Australia, Canada, Egypt, Turkey and South Africa. Dubai International Hub of the Group is currently managing international operations. The domestic operations are handled by the Mumbai hub of the Group which has been set up recently. The formal inauguration of the hub is scheduled in March 2023.
The Group is committed to give back to society. Hence, it has been earmarking 5% of its profit for social welfare programmes. The welfare activities include treatment support to the poor, education and housing support, empowerment of girls and environmental protection. Recently it has launched an ambitious project, `Hunger Free World’ which ensures one square meal a day to the needy. Spread across different urban clusters, the programme covers 23 cities and offers food to 25,000 people every day. This is being implemented with the support of NGO `Thanal.’
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