The 100 NRIs – 2026: Shamlal Ahamed, Managing Director of International Operations, Malabar Gold and Diamonds
This article forms part of The 100 NRIs, a special edition by Entrepreneur Middle East spotlighting the most influential non-resident Indians shaping business, innovation, and investment across the region.
Shamlal Ahamed is the Managing Director of International Operations at Malabar Gold & Diamonds, a leading jewellery retailer founded in 1993 by his father, M.P. Ahammed. In his executive role, he is responsible for formulating and executing the company’s international expansion strategy, overseeing operations across more than 410 showrooms in 14 countries. Under his leadership, the company has significantly grown its global footprint, establishing strong markets in the UAE, Singapore, and Malaysia, with strategic plans to expand into Hong Kong, Indonesia, the UK, and the US.
Malabar Gold & Diamonds originated in Kozhikode, where M.P. Ahammed started the business in 1993 after selling part of the family property. The company began with eight employees and expanded rapidly through regional growth and strong customer relationship management. Recognising the potential in Dubai, Ahamed led the company’s first international foray into the Gulf market, despite initial setbacks, including the closure of the Dubai showroom within eight months due to inexperience.
In 2007, Ahamed took charge of the company’s international expansion, selecting Sharjah as a strategic base due to its large Asian expatriate population. The company initially focused on wholesale operations before moving into retail. Ahamed implemented strategies centred on superior customer service, competitive buy-back policies, and lifetime exchange programmes, helping to build trust and loyalty. These initiatives have been crucial in establishing Malabar’s reputation for quality and reliability in international markets.
Today, Malabar Group employs over 25,000 staff worldwide, generating an annual turnover of US$7.5 billion. Ahamed’s leadership remains pivotal in driving the company’s vision to become the world’s largest jewellery retailer, through strategic expansion, operational excellence, and customer-centric policies.
This article forms part of The 100 NRIs, a special edition by Entrepreneur Middle East spotlighting the most influential non-resident Indians shaping business, innovation, and investment across the region.
Shamlal Ahamed is the Managing Director of International Operations at Malabar Gold & Diamonds, a leading jewellery retailer founded in 1993 by his father, M.P. Ahammed. In his executive role, he is responsible for formulating and executing the company’s international expansion strategy, overseeing operations across more than 410 showrooms in 14 countries. Under his leadership, the company has significantly grown its global footprint, establishing strong markets in the UAE, Singapore, and Malaysia, with strategic plans to expand into Hong Kong, Indonesia, the UK, and the US.
Malabar Gold & Diamonds originated in Kozhikode, where M.P. Ahammed started the business in 1993 after selling part of the family property. The company began with eight employees and expanded rapidly through regional growth and strong customer relationship management. Recognising the potential in Dubai, Ahamed led the company’s first international foray into the Gulf market, despite initial setbacks, including the closure of the Dubai showroom within eight months due to inexperience.
