Malabar Gold & Diamonds is preparing to enter the lab-grown diamond segment with a carefully crafted branding strategy, distinguishing it clearly from natural diamond offerings.
The Kerala-based jewellery giant is assessing consumer interest and positioning to appeal to a new clientele seeking innovative and sustainable luxury.
Chairman M.P. Ahammed emphasizes the importance of a separate identity for lab-grown diamonds, reflecting distinct customer preferences. Managing Director O. Asher adds that the company’s approach is deliberate and research-driven, avoiding short-term trends.
Lab-grown diamonds, priced significantly lower than mined stones, are gaining traction globally yet remain a niche market in India. Malabar’s move would place it among the select few major Indian retailers embracing this growing category, alongside brands like Senco Gold.
In parallel, Malabar is responding to rising gold prices by expanding its 18-carat and 14-carat gold jewellery lines, offering affordable yet stylish options. This strategy aims to maintain market share by catering to budget-conscious consumers without compromising design and quality.
With over 390 stores across 13 countries and a $6.2 billion turnover in 2024, Malabar plans to open 50 new outlets in India this year, reinforcing its commitment to evolving customer tastes and expanding its footprint in both traditional and contemporary jewellery markets.
