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At 17, this man started his first business venture, now runs Rs 27000 crore company, he is…
Driven by a desire to achieve greater success, Ahammed conducted market research and identified opportunities for growth in the gold and jewelry sector.
Updated : Oct 02, 2024, 06:26 AM IST
 "At 17, this man started his first business venture, now runs Rs 27000 crore company, he is…")
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Embarking on a business venture demands a great deal of maturity, bravery, and a readiness to take risks. With dedication, hard work, and passion, some individuals confront the difficulties of entrepreneurship and turn them into inspiring success stories. A notable example is MP Ahammed, the founder of Malabar Gold and Diamonds, which has become one of the largest retail jewelry groups in the world.
Born in 1957, an Indian businessman named M. P. Ahammed hails from Kozhikode, Kerala. Ahammed started his entrepreneurial journey at the age of 20 when he established a spice trading business.
At 17, he started his first agro-product company. In 1981, at 24, he ventured into marketing copra and spices. He engaged in trading cardamom, pepper, and coconuts with the merchants of Kerala's Kozhikode (now Calicut). However, he quickly recognized that this business venture would not lead to success.
Driven to achieve greater success, Ahammed conducted market research and identified opportunities for growth in the gold and jewelry sector. As a result, he founded Malabar Gold in 1993, which has since become one of the largest jewelry retail chains in the world.
Malabar Gold & Diamonds has a robust retail network of over 350 outlets across 13 countries. In addition, they operate a variety of facilities, including offices, design centers, wholesale units, and factories located in India, the Middle East, the Far East, and the United States.
According to the company's official website, it is the fastest-growing business conglomerate globally, boasting an annual turnover of USD 6.2 billion (approximately Rs 52,021 crore) and a workforce of over 21,000 management team members worldwide. A News18 report states that the company's valuation stands at an impressive Rs 27,000 crore.
Ahammed attended Government High School in Kozhikode before earning his bachelor's degree in Commerce from the University of Calicut. M. P. Ahammed married K. P. Subaida, and they have two children. His son, Shamlal Ahammed, holds the position of managing director of International Operations for the company.
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