Muscat, Oman – Malabar Gold & Diamonds, one of the world’s leading jewelry retailers, has been honored with the Jewellery Retail Chain of the Year award at the recently held Business Leadership Summit & Awards 2024, organized by the Times of Oman. This recognition highlights the company’s commitment to excellence in the jewelry retail sector.
The award was presented to Najeeb K, Regional Head of Malabar Gold & Diamonds in Oman, during a ceremony attended by notable figures including His Excellency Qais bin Mohammed Al Yousef, Minister of Commerce, Industry & Investment Promotion, along with Mohamed Issa Al Zadjali, Chairman of Muscat Media Group, and Muhasin P, Branch Head of Malabar Gold & Diamonds.
Commitment to Customer Experience
Expressing gratitude for the recognition, Najeeb K remarked, “Malabar Gold & Diamonds is extremely honored to have been presented with the Jewellery Retail Chain of the Year award. This accolade is a testament to our unwavering dedication towards providing our expansive customer base with an exceptional jewelry shopping experience in a responsible and sustainable manner.”
He further emphasized that the award reinforces their status as a premier jewelry retailer in Oman, citing the ongoing expansion of their world-class showrooms as a key factor. “We dedicate this incredible achievement to our loyal customers in the region, inspiring us to keep pushing the boundaries in jewelry retail, offering unparalleled quality and innovation in our products and services,” he added.
A Trusted Brand in Oman
Malabar Gold & Diamonds has consistently been recognized as one of Oman’s most trusted brands since 2016. The company operates 12 showrooms across the country, located in Muscat, Seeb, Barka, Salalah, Sohar, Muthra Souk, Ibri, Nizwa, and Al Khoud. This widespread presence reflects the brand’s popularity and commitment to serving the local community.
A Leader in Sustainable Practices
Founded in 1993, Malabar Gold & Diamonds is the flagship company of the Malabar Group, a diversified Indian business conglomerate. The group has made Environmental, Social, and Governance (ESG) initiatives a primary commitment since its inception. It allocates 5% of its net profits towards various ESG causes across its regions of operation, underscoring its belief that successful businesses integrate responsibility and sustainability into their core operations.
Key Focus Areas of ESG Initiatives
Malabar Group’s ESG initiatives encompass several critical areas:
- Health
- Housing
- Hunger Eradication
- Education
- Environment
- Women Empowerment
The group regularly updates its ESG goals to ensure it remains a socially conscious and responsible organization, reflecting its commitment to the communities in which it operates.
Global Presence and Economic Impact
With an impressive annual turnover of $6.2 billion, Malabar Gold & Diamonds ranks as the 6th largest jewelry retailer worldwide. The company boasts a robust retail network of over 365 showrooms across 13 countries, complemented by multiple offices, design centers, wholesale units, and factories in regions such as India, the Middle East, the Far East, the USA, the UK, Canada, and Australia.
The Malabar Group is owned by more than 4,000 shareholders and employs over 21,000 professionals from more than 26 countries, contributing significantly to its continued success and the economic fabric of the regions in which it operates.
Embracing E-Commerce
In addition to its physical stores, Malabar Gold & Diamonds operates an online store, allowing customers to browse and purchase their favorite jewelry from the comfort of their homes.
Looking Ahead
As Malabar Gold & Diamonds continues to expand and innovate, the company remains dedicated to maintaining its reputation for quality and customer service. The recent award is not only a recognition of past achievements but also a motivator for future growth and excellence in the jewelry retail industry.
Conclusion
The award for Jewellery Retail Chain of the Year solidifies Malabar Gold & Diamonds’ position as a leader in the jewelry market, both in Oman and internationally. With its commitment to customer satisfaction, sustainable practices, and innovative expansion, the company is well-positioned to continue its legacy of success in the years to come. As it navigates the evolving landscape of the jewelry industry, Malabar Gold & Diamonds exemplifies the values of integrity, quality, and community engagement.
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