If there is something which holds a sentimental value like no other in the Indian market, it is gold. Deep rooted in the cultures and traditions of India, gold plays an important role. With such a high rush for the yellow metal, here are the top three gold retail stores in India.
Malabar Gold and Diamonds
MP Ahamed, the man behind the success story of Malabar Gold ventured into business in 1979. However, this was not his maiden business venture. He started his voyage with an ice-making factory, which failed. In 1981, he started trading spices and copra. It was in the year 1993 that he invested Rs 50 lakh in the gold business and opened the first store in Calicut.
With efforts to make a competitive image in the local and international market, he introduced 100 per cent BIS hallmarked jewelry. Today, the company has 82 outlets, with 52 in India and the remaining in the Gulf Cooperation countries.
Amongst the top-most jewelers who influence the gold markets in India, Malabar is a name known to all.
Rajesh Exports
At the age of 16, Rajesh Mehta joined his father’s business and started supplying semi-precious stones to jewelers in the market. With a gradual interest in business, he entered the mainstream jewelery business in 1982. The year 1995 saw Rajesh Exports entering the capital market with a public issue and raised Rs 10 crore.
Mechanized manufacturing led to a decrease in production costs for the company. Owing to this, Shubh Jewelers stores, which is their retail brand, does not levy making charges on their jewelry.
Their unique policies and out-of-the-box designs have given Shubh Jewelers a standing amongst the top few in the market. With an aggressive roadmap, Rajesh Mehta aims to open 2,000 Shubh Jewelers showrooms pan-India.
Senco Gold Jewelers
Suvankar Sen joined his family in 2007. His great grandfather, Maranchand Sen ventured into the jewelry business 75 years ago. His grandfather, Prabhat Chandra Sen joined in 1950, and in 1968, opened the first shop in Kolkata’s jewelry nexus, Bowbazar. When Suvankar stepped into the business, they already had 30 stores running across India.
A MBA from IMT Ghaziabad, Suvankar expanded his father’s business to new areas like Odisha, Assam, Jharkhand and Delhi. With a professional edge, he has taken the business to new heights and made it evident why his brand is known as the top jewelry brand.
India has had a soft spot for gold for a very long time. With major players ruling the Indian and international gold markets being India, it is certain that the gold industry is in its golden era.