by admin | May 25, 2021 | Business, Emerging Businesses, News
• Featuring brand ambassador Bollywood actor Anil Kapoor, Malabar brings the unique virtual store launch concept to Bihar
Patna: Malabar Gold & Diamonds, one of the largest gold and diamond retail chains in the country, will inaugurate its first store in Patna in Bihar through a unique virtual store launch event on September 19, 2020. Brand ambassador Bollywood actor Anil Kapoor and Malabar Group Chairman M P Ahammed will grace the first-of-its-kind virtual store inauguration event which will be streamed on its official Facebook page.
Located at Boring Canal Road, the lavish showroom is a part of its global expansion plan of the jeweller and its vision to strengthen retail presence in eastern India. The jeweller said that it will hold virtual store launches to inaugurate showrooms across India, going forward, to comply with the safety and security guidelines in the post-Covid scenario.
The spacious store in Patna with an area of 5500 square feet will offer a safe and hygienic retail environment to its customers by adopting all the necessary precautions and safety measures. As the brand enjoys tremendous goodwill across the country and beyond banking on exceptional products and services, the aesthetically designed will offer the jewellery buyers of the state exquisite jewellery retail experience.
Malabar Group Chairman M P Ahammed with his son Shamlal Ahamed, Managing Director, International Operations, Malabar Gold & Diamonds
“The store in Patna will help us further expand our presence in eastern India. The virtual store launch will bring an element of novelty to our main foray into Bihar. Our retail expansion is a part of our plan to become the number one gold retail brand in the world in terms of both showroom count and sales. So, we have plans to triple the number of showrooms in the next five years,” said Malabar Group Chairman MP Ahammed.
“What makes our brand appealing to the global consumers is our highly diversified product range, immaculate designs, and impeccable after-sales services,” he added.
“Our unparalleled transparency in pricing and quality has helped us win customer confidence across the country and beyond. We want to offer our unique services, facilities and unmatched variety to the customers in Bihar,” said O Asher, Managing Director, India Operations, Malabar Gold & Diamonds.
The jewellery retail chain offers exquisitely designed gold jewellery for all occasions across age groups. It offers world-class facilities along with lifelong free maintenance, one-year free insurance on products, buy-back guarantee, zero deduction for exchange, etc. It also offers maximum value while selling or exchanging old gold as well as advance booking facility by 10% of the value upfront to its customers.
About Malabar Gold & Diamonds
Malabar Gold & Diamonds is the flagship company of Malabar Group, a leading diversified Indian business conglomerate. Founded in 1993 by a team of enterprising businessmen led by Mr. Ahammed MP at the northern city of Kozhikode, Kerala, Malabar Gold & Diamonds has come a long way to become the world’s fifth largest jewellery retailer with over 260 showrooms spread over ten geographies with its annual turnover touching approximately Rs. 30,000 crores. With 13 cluster manufacturing units in India and GCC – the company currently has 12 jewellery brands to cater to the discerning needs of customers. This is a rare foot for a business house that started its long march as a single shop retail outlet and reached the pinnacle of its business vertical in such a short span of time. With headquarters in Kerala and branches across India, Middle East and the Far East, Malabar Group is best known for its activities in the field of gold, diamonds, silver and lifestyle articles.
by admin | May 25, 2021 | Business Summit, Events
Frank F Islam (R) receiving memento from Danish Reyaz, Managing Director, Maeeshat Media, in Mumbai on Feb 21, 2019.
Mumbai— “The minorities entrepreneurs play a significant role in the development of India. They play a pivotal role in shaping the future of India. They have the capacity and capability to change the landscape of India and the world,” these were the opening words of India-born renowned American businessman Frank F Islam when he was sharing his success mantra with a select group of Muslim entrepreneurs in the financial capital of India – Mumbai.
The occasion was 8th All India Minorities Business Summit & National Brand Awards hosted by Maeeshat Media Private Limited.
In the very beginning of his speech, and before narrating his own journey of success – from Azamgarh to Aligarh to America – Frank appreciated and encouraged the awardee businessmen and all budding entrepreneurs from minorities.
“Before I get to my formal remarks, let me state that for those award honorees, this day is your day. Let me extend my congratulations to those of you receiving the awards here this evening. You are doing God’s work. You are doing people’s work. For those of you minority entrepreneurs who are not receiving awards today, this day is your day also. I am certain you will be recognized at this summit at some future date. For those in the audience who are contemplating becoming entrepreneurs, I say join us. We need you, your fellow minorities need you, and India needs you,” said Frank and added with stress: “Indeed, what is needed for the future of India and the world is Entrepreneurial Leadership and Civic Engagement.”
He said his own journey of becoming a successful entrepreneur had five phases: Getting a good education, Doing my apprenticeship, Becoming an entrepreneur, Building a strong and talented team who shared my vision and values, Staying the course, Broadening my horizon.
Frank’s Successful Entrepreneurial Journey
Frank was born in Azamgarh, Uttar Pradesh and got early education in his town and then in Varanasi before moving to Aligarh Muslim University for graduation. From AMU, he went to America and the rest is an inspirational story. He narrated his journey:
“I went to the United States from India to pursue the American Dream. I got my bachelor and master degrees in computer science at the University of Colorado. That gave me the knowledge that I needed to go into business. When I graduated with my advanced degree, I was not prepared to go directly to owning a business. That’s because I didn’t know how businesses operated. I had no real exposure to business prior to starting college. I knew I needed experience before launching my own venture. So, I worked with two major information technology firms in the Washington DC area for about a decade to learn the ropes and the ins and outs of doing business with the government. That gave me the skills and real-world grounding that I needed to start my own business.
After doing my apprenticeship, in 1994, I purchased the QSS Group for $45,000. Within thirteen years, along with my key management team, we took that firm from a workforce of 1 employee – me – to more than 3,000 employees and approximately $300 million in revenue. That was an excellent trajectory for the business. I had a role to play in that success.
But, when people ask me how I became successful, I respond that it was not me, but we who made it happen. My team of talented senior managers was central to everything. Success in business is a team sport…I must talk about passion and persistence. Those are the ingredients for “staying the course.” They were essential because my journey was not a straight line. It was not always easy. And, the final destination was not certain.
During the early years, there were several issues to be dealt such as: Will we win the contract, will I get the bank loan, will I be able to make payroll. There were some 24-hour days and many sleepless nights. For the first several years I was in business, I worked seven days a week. What enabled me to prevail on the journey was a belief in myself and those around me and the opportunity presented by the American Dream.
Success taught me to move forward. As importantly, failure taught me to never go backward. From the time I started my business, I knew implicitly that you needed to move ahead and that if you did not you would be left behind. Thus, failure is the first step to success.
In 2007 I sold my company to Perot Systems. That allowed me to establish a private foundation that supports educational, cultural and artistic causes in the United States, here in India, and around the world.
That was my journey and now I am in a new phase of which is the philanthropic engagement. And, I can tell you in all honesty and humility that is the most personally rewarding time of my life. As I made my journey, I always tried to do the right thing. An old American saying is that managers do things right and leaders do the right thing.”
Empowerment of Minorities
In his speech, Frank stressed civic engagement and steps for empowerment of minorities.
“I know that you Summit award winner and others here tonight, are already engaged. I know that I am preaching to the choir. But, as I conclude my remarks, I would like to make one request. That request is to ask you to join with me in committing to do even more by intensifying your focus on the empowerment of minorities,” he said and counted education, employment and elevation as three key areas for empowerment.
Elaborating the third key point ‘Elevation’, he said: “Elevation is enabling the minority individual who has been educated and who is employed to raise their sights, to realize that any thing is possible, to understand that education and employment are steps in the journey. As those of you minority business leaders here tonight know, the journey of a thousand miles begins with a single step.”
Addressing the Muslim businessmen, Frank said: “You are the difference makers. That is why I ask you to continue to provide those minorities in need with a hand-up and not just a hand-out. Help empower them through the 3 E’s: Education, Employment and Elevation. Do well in your business so that you can do good for other minorities and for India. Invest in other minorities by sharing and giving back. Make your success India’s success.”
