Jewellery: A celebration of life this Diwali

Jewellery is a gift that carries an emotional sentiment - a symbol of affection for a daughter, wife or sister. The industry will continue as long as there is an opportunity for a gift.' - Shamlal Ahamed MP

Most of us are familiar with Malabar Gold & Diamonds (MGD), well known for their extensive collection of ornaments crafted in gold, platinum, pearl, silver and diamonds. Here, a range of exquisite designs and styles fulfil the desires of lovers of the yellow metal. "We have a strong retail network of 140 outlets spread across nine countries with 10 wholesale units," says Shamlal Ahamed MP, Managing Director, International Operations, in an exclusive interview with Khaleej Times.

"We have offices, design centres and factories spread across India, Middle East and the Far East. We are set to open the largest jewellery outlet in the Middle East, including a large format 'jewellery paradise' that will be spread across 10,000 square feet of floor space in Abu Dhabi," he adds.
In MGD, employees are part of management. Shamlal explains, "We have a unique business model which encourages our staff to invest in the business and be a part of it. Currently over 450 of our investors are also full time employees of the company. Our strength is based on our strong team ethic. We give preference to in-house talent and promote them. We have employees who have had a long tenure with us. We want to be the leading retailer in gifts around the world. Currently, we would also like to complete the whole value chain by investing in mining and refining."
Apart from teamwork, MGD has a transparent system. "We are the only jeweller to have a making charge on the tag. We have customer-friendly policies and various buyback options. We have cash buybacks for all diamond and gold products. Besides, all products have third party certification," he points out.
The main challenge, according to Shamlal, is the fact that gold is affected by market sentiments. In India we depend on the wedding market where sentiments really matter. A negative sentiment can arise from a cash flow crunch in the market. This affects us as we are a luxury product.
"Another challenge is the change in trends. Designs evolve based on fashion and trends. Usually, 60 per cent of jewellery is traditional and the other 30-40 per cent are based on new trends and to manage this aspect is challenging. Latest products are introduced at jewellery trade fairs. To understand the market, and propose the correct jewellery for the clientele is quite challenging," he observes.
Shamlal reveals his plans for the UAE. "Among GCC countries, the UAE is the most vibrant and promising. The population is growing along with purchasing power. We cater to customers' preferences and convenience with a focus on the neighbourhood. We have three different concepts - a high street concept, a shopping mall concept and an anchor store concept. We are trying to introduce each concept in each community. Dubai is known as the 'City of Gold' for retail and distribution. Dubai is a trading hub; therefore we want to set up manufacturing in the UAE. We want to promote a 'Made in UAE' concept. We will be opening a new factory as retail is moving towards being highly organised and we believe manufacturing should synchronise as well."
 Quick takes
Who inspired you and what was the best advice given to you?
My inspiration is my father. Transparency, trust and consistency are traits I learnt from him. Just focus on what you do and do it consistently is a mantra from him.
What plans do you have for Diwali?
We have planned one of the biggest offers for Diwali. Our product team has developed 60 designs across gold and diamonds.
What do you like most about your professional life and how do you maintain a work-life balance?
I really enjoy working as a team. As part of our business, we celebrate life, festivals or special days, which gives us satisfaction. I have three kids, with whom I spend my weekends, and I have a good set of friends.
Is there anything you won't compromise on?
I won't compromise on anything that affects transparency and trust, especially if it affects our brands. We've built a high brand value over a period of 22 years. We won't do anything that affects our brands whether it is an association or sponsorship.
Why did you choose Kareena Kapoor as your brand ambassador?
We wanted to be an Indian jeweller with a face that represented India. Kareena was our choice to represent MGD globally.
Brands
Ethnix: Handcrafted designer jewellery
Era: Uncut diamond jewellery
Mine: Diamonds unlimited
Divine: Indian heritage jewellery
Precia: Precious gem jewellery
Starlet: Kids jewellery
MGD also has an online store - www.malabargoldanddiamonds.com - providing you an opportunity to purchase your favourite jewellery any time, any day from the comfort of your home.
 suchitra@khaleejtimes.com