May 2, 2023 | Business
Limelight Lab-Grown Diamonds is passionate about ensuring consumers can enjoy the beauty of a diamond but not at the cost of people or our planet. Working with Positive Luxury in their certification journey, India’s leading lab-grown diamond brand demonstrates its sustainability leadership across the organisation.
In order to achieve the Butterfly Mark, companies must achieve a minimum of 50% in each area of assessment: Environment, Social and Governance (ESG). Limelight Diamonds achieved 55% in Environment, 51% in Social and 68% in Governance, excelling in the following areas:
Climate & Circularity: Limelight Diamonds and its direct suppliers have adopted solar & renewable energy as a primary source, resulting in 99% of the energy used being renewable. Circularity plays a pivotal role in the business from the selection of recycled materials such as gold in the core manufacturing to paper-based packaging. The introduction of a product reclamation and repair programme allows Limelight Diamonds to extend the life cycle further. Selecting a logistics provider aligned with their own environmental and social responsibility targets, Limelight have adopted route optimisation software and packaging consolidation methods to reduce its scope 3 carbon emissions
Fair Operating Practices & Community: People and communities are at the core of Limelight’s business, paying particular attention to employee empowerment, growth and development. 50% of the senior management positions are occupied by women highlighting the importance of diversity, inclusion and gender equality within their company values. Sourcing its own lab grown diamonds, Limelight avoids the social and labour issues related to mining, and the adoption of a thorough human rights policy in supplier selection ensures fair labour practices within their supply chain and forms part of the supplier code of conduct signed by their main suppliers. Limelight Diamonds has as a strong community ethos, supporting and sponsoring the delivery of community sports events – encouraging communities to be more active. In 2022, Limelight Diamonds donated £10,000 to Sākshartā Foundation to improve lives and support the development of underprovided social groups and children, along with a valued contribution towards a noble cause of sponsoring 500 trees for rural beneficiaries
Sustainable Sourcing: Limelight Diamonds has implemented a rigorous supplier sourcing and selection strategy with clear focus on environmental and social responsibility – ensuring compliance through a code of conduct and third party certifications such as ISO 9001 (Quality Management), ISO 45001 (Occupational Health & Safety) and ISO 14001 (Environmental Management). Focusing on the future, Limelight Diamonds have set sustainable sourcing targets including switching to 100% recycled packaging by 2024 and lowering the use of virgin materials 5% year on year.
Adopting Sustainable Innovation: By choosing the innovative technology of growing lab-grown diamonds through the chemical vapour deposition method, which produces the purest type of diamonds – Type IIa certified, Limelight avoids the adverse effects of natural diamond mining, such as impacting fragile ecosystems, high volume use of water as well as any social related risks from mining activities that do not comply with regulations
Positive Luxury’s four-part methodology is uniquely tailored for the luxury industry, and the only certification that focuses on innovation and future sustainability risks. The Butterfly Mark is an independent certification verifying to consumers and other stakeholders that a luxury business is operating in line with the highest standards of sustainability across the entire value chain.
“We are delighted to certify Limelight Diamonds with the Butterfly Mark for their work embedding measurable ESG and sustainability practices across their business operations. Limelight Diamonds are innovators in the Indian lab-grown diamond market, and challenge the wider industry to explore sustainable innovative alternative.” -Diana Verde Nieto, Co-Founder of Positive Luxury
“As India’s largest CVD diamond jewellery brand on its sustainability journey, we at Limelight Diamonds are constantly working hard towards staying true to our core philosophy of establishing a luxury niche that is not built at the cost of our planet or our people. We are doing our best in developing newer practices to be able to make a tangible difference. This recognition only further motivates us to continue at our future endeavors of preserving the legacy of a diamond yet protecting our planet and progressing towards a brighter future for all.” -Pooja Sheth, Managing Director & Founder of Limelight Diamonds
Other luxury brands that have been awarded with the Butterfly Mark include Monica Vinader, Tom Ford Beauty, Dior Couture, MCM, IWC Schaffhausen, Belvedere, The Macallan, Anya Hindmarch and more. By continuing as part of the Positive Luxury brand community, Limelight Diamonds will continue to strive in exceeding standards set for social and environmental frameworks.
Learn more about Limelight Diamonds at :https://www.positiveluxury.com/our-members/limelight-diamonds/
Feb 5, 2023 | Business
The grand inauguration of the 300th global showroom of Malabar Gold & Diamonds, the 6th largest jewellery retailer globally with a strong retail network of 300 showrooms across 10 countries, was held in Dallas, USA.
Ms. Susan Fletcher, Collin County Commissioner and Mr. Jeff Cheney, Mayor of Frisco, Texas, jointly inaugurated the showroom in the presence of Mr. Shamlal Ahamed, Managing Director, International Operations. The event was virtually attended by Mr. M P Ahammed, Chairman, Malabar Group; Mr. KP Abdul Salam, Vice-Chairman, Malabar Group; Mr. O Asher, Managing Director, India Operations, other team members, well-wishers and dignitaries.
“It is a moment of great pride for us as we touch the 300th mark with this new showroom in Dallas, USA. We started off with a small showroom in Calicut, Kerala, India and today, in less than 30 years, we have a strong retail presence of 300 showrooms across 10 countries; all thanks to our customers, shareholders, employees and other stakeholders. We will continue to strengthen our retail presence in the regions where we have established a robust presence, as well as enter new markets with our differentiated products, services and assurances. The acceptance and patronage received by the brand gives us the confidence to further speed up the expansion process in becoming the No. 1 jewellery retailer globally,” said Mr. MP Ahammed, Chairman, Malabar Group.
Malabar Gold & Diamonds currently operates in 10 countries and has immediate expansion plans into the UK, Bangladesh, Australia, Egypt, Canada, Turkey, South Africa. The future expansions are expected to create approximately 6,000 job opportunities in the retail, manufacturing, technical and management areas related to jewellery trade.
“Malabar Gold & Diamonds has played a vital role in making Indian jewellery more acceptable and trustworthy at the global level in recent years. We are now crafting unique experiences targeting the individual and specific preferences of our customers. As the design discovery and initial decision-making of most customers are happening online these days, we are focusing greatly on strengthening our omnichannel retail strategy, for which we are making use of the services of global technology giants like Microsoft, IBM, Accenture, E&Y, Deloitte etc..,” said Mr. Abdul Salam KP, Vice Chairman, Malabar Group.
Malabar Gold & Diamonds is renowned globally for offering an unparalleled jewellery buying experience with convenience, and customer-friendly policies along with the ‘Malabar Promise’ of incomparable quality and service assurance. Malabar Promise includes assured lifetime maintenance from any of the showrooms across 10 countries, guaranteed buyback, IGI and GIA-certified diamonds ensuring 28-point quality check of global standards, zero deduction gold exchange, complete transparency, 916 hallmarked pure gold, responsible sourcing, fair price policy and fair labour practices.
“We are very excited about our future growth plan and will immediately be expanding into new markets, including the UK, Bangladesh, Australia and Canada, followed by Egypt, Turkey & South Africa. Apart from this, we will further strengthen our retail footprint within the existing markets as well. We constantly make efforts to evolve in line with the diverse preferences of our multicultural and multinational customers, as part of which we will focus further on product variety and a superior shopping experience, in addition to opening more stand-alone stores for local customers of the respective regions,” said Mr. Shamlal Ahamed, Managing Director, International Operations, Malabar Gold & Diamonds.
The new showroom in Dallas has a stunning display of more than 30,000 jewellery designs from 20 countries across gold, diamonds, precious gems and platinum, catering to the design preferences of those residing in and around Dallas.
“We have an ambitious retail expansion plan in India as well, especially in the North and Central Indian states and are gearing up in a big way to enter new territories as well by setting higher standards in the jewellery trade. We understand the sensitivity of the industry and ensure compliance through responsible sourcing, ethical business practices, and transparent and professional fund management. Our association with trade bodies, financial houses, and government regulators help to ensure that our operations are infallible globally,” said Mr. O Asher, Managing Director, India Operations, Malabar Gold & Diamonds.
“We will further strengthen our manufacturing capabilities to support our retail expansion drive globally. We will also be hiring skilled artisans and related staff as part of this process. This will also further bolster our mission, ‘Make in India, Market to the World.’ Keeping in line with the brand’s outlook as a responsible jeweller, all our ongoing and upcoming facilities have and will be designed to provide safe and pleasant working conditions to the employees,” said Mr. Nishad AK, Group Executive Director, Manufacturing & B2B, Malabar Group.
Malabar Group believes that the most successful companies are those which integrate responsibility and sustainability into their core business and commit 5% of their profit to support socially responsible purposes both in India and abroad, since its inception in 1993. Hunger, Health, Education, Women Empowerment, Housing and Environment are the key focus areas for the Group.
About Malabar Gold & Diamonds
Malabar Gold & Diamonds was established in 1993 and is the flagship company of Malabar Group, a leading diversified Indian business conglomerate.
With an annual turnover of $4.1 billion, the company currently ranks as the 6th largest jewellery retailer globally and today has a strong retail network of 300 outlets spread across 10 countries in addition to multiple offices, design centers, wholesale units and factories spread across India, Middle East, Far East & USA. The group, owned by more than 4,000 shareholders, has more than 16,500 professionals from over 26 countries working towards its continued success. Malabar Gold & Diamonds also features an online store www.malabargoldanddiamonds.com providing customers the opportunity to purchase their favorite jewelry at any time and on any day from the comfort of their homes.
The group also operates MGD, Lifestyle Jewellery, a retail concept offering trendy and light weight jewellery that represents the independent and the modern woman through its designs and collections.
CSR has been the primary commitment of the group since its inception; integrating ESG (Environmental, Social & Governance) principles into the core business. The key CSR focus areas of Malabar Group are Hunger, Health, Education, Women Empowerment, Housing, and the Environment. The ESG goals of the organization are periodically strengthened by integrating responsibility and sustainability to remain a socially conscious and responsible organization. The group contributes 5% of its profit to such initiatives in the same country of operation.
Managing Director- APAC
Topic: Press release summary
Sep 4, 2021 | Business
A selection of rare and important Louis Comfort Tiffany jewels shines in the Bonhams California Jewels sale on Monday, September 13. The sale contains an assortment of Tiffany from different periods in the 200-year-old companys history, including a rare enamel flower by Paulding Farnham, a set of hardstone necklaces by Angela Cummings, earrings by Elsa Peretti, and rings by Schlumberger. Other highlights include important diamonds: a ruby and diamond bracelet, a Marcus & Company platinum, ruby and diamond ring, diamond drop earrings, a diamond riviere, and a Van Cleef & Arpels diamond clover brooch, circa 1945. A series of whimsical animal jewelry by Elizabeth Gage includes a cat, a lioness, and a parrot. Gage, a British goldsmith, has made jewelry for more than 50 years and is known for her elaborate craftsmanship, use of high-karat gold, and historical references. Estimates for individual pieces within the 301-lot sale range from $300 to $75,000.
Head of Jewelry, Bonhams Los Angeles, Emily Waterfall said, Louis Comfort Tiffany spent years perfecting his eye in the stained-glass studio before bringing a similar aesthetic into his jewelry construction, favoring shimmering luminous stones such as opal, moonstones, and Montana sapphires recommended by Tiffanys Chief Gemmologist, George Frederick Kunz. Tiffanys delicate, colorful Arts & Crafts creations were astonishing. His jewels were inspired by nature and featured berries and flowers on vines that expressed the celebratory movement and color of the Art Nouveau period, or they were based on ancient cultures like Egypt, as you can see in the scarab-like filigree on the opal necklace. He often paid as much attention to the chain and the clasp as to the central stone element. These pieces are treasured and when they come to the market they often exceed the estimates. Bonhams has a strong record with Louis Comfort Tiffany pieces, in 2017 a similar black opal and sapphire necklace sold for $44,000.