M. P. Ahammed was just 20 years old when he embarked on his entrepreneurial journey by venturing into the spice industry in 1978.
Diving into a business venture requires a significant amount of maturity, courage, and a willingness to take risks. With sincerity, hard work, and passion, there are individuals who tackle the challenges of running a business and transform it into a remarkable success story. One such story is of M. P. Ahammed, founder of Malabar Gold and Diamonds, one of the world's largest retail jewellery groups.
Ahammed embarked on his entrepreneurial journey at a very young age. His passion for creating something unique and impactful set the foundation for his future endeavors. When he was just 20 years old, he embarked on his own entrepreneurial journey by venturing into the spice industry in 1978.
He took the first steps towards setting up a business in Kozhikode, Kerala to sell black pepper, coriander, and coconut. Though, it didn't take him long to figure out that this business idea wasn't going to work.
With the ambition to achieve something bigger, Ahammed did his market research and found opportunities for expansion in the field of gold and jewellery. Subsequently, his venture, Malabar Gold was established in 1993, and today, it stands as one of the largest chains of jewellery retailers in the world.
Malabar Gold & Diamonds boasts a strong retail network of over 350 outlets spread across 13 nations. Besides, they maintain diverse operations, featuring offices, design centers, wholesale units, and factories spread across India, the Middle East, the Far East, and the United States.
As per the company’s official website, it is the fastest-growing business conglomerate in the world with an annual turnover of USD 6.2 Billion (Rs 51907 crore approx.) and a size of over 21,000 management team members worldwide. According to a News18 report, the company has a whopping valuation of Rs 27,000 crore.
Ahammed studied at Government High School in Kozhikode. He later pursued his bachelor's degree in Commerce at the University of Calicut. He is married to K.P. Subaida, and together they have two children.
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