Malabar Gold & Diamonds to open three showrooms in New Zealand

Malabar Gold & Diamonds has announced plans to expand its retail presence into New Zealand with the opening of three new showrooms in Auckland, Wellington, and Hamilton as part of a NZD $75 million investment.

This development follows the signing of the Comprehensive Economic Partnership Agreement (CEPA) between the United Arab Emirates and New Zealand in January 2024, which aims to enhance trade and economic collaboration between the two countries. Malabar Gold & Diamonds oversees its international operations from the United Arab Emirates, marking their expansion into New Zealand as the 14th country in which they operate.

Chairman of Malabar Group, Mr. M.P Ahammed, stated, "As a globally recognised jewellery retailer managing its international operations from the UAE, the Comprehensive Economic Partnership Agreement (CEPA) between the UAE and New Zealand significantly bolsters our efforts to enter this new market. This agreement not only allows us to strengthen economic ties but also provides us with an opportunity to introduce our products and services to a whole new audience. By capitalising on the opportunities presented by this bilateral trade agreement, Malabar Gold & Diamonds marks a significant milestone in our overarching vision to become the world's number one jewellery retailer."

The New Zealand Trade Commissioner to the United Arab Emirates and Consul General to Dubai & Northern Emirates, Mr. Ahmad Zakkout, commented, "It's encouraging to see the CEPA already driving increased trade and investment between our two countries. We're excited to continue fostering investment and business opportunities between New Zealand and the United Arab Emirates."

According to Mr. Shamlal Ahamed, Managing Director – International Operations of Malabar Gold & Diamonds, "New Zealand is a market brimming with potential, offering us an exceptional opportunity to connect with a diverse customer base that appreciates the artistry, quality, and authenticity synonymous with Malabar Gold & Diamonds. As the UAE stands as one of the world's premier jewellery trading hubs and the base of our international operations, the provisions in CEPA that promote UAE-NZ trade open a more efficient and streamlined pathway into the market. With a legacy built on trust, transparency, and customer satisfaction, this expansion into New Zealand represents a transformative step in redefining the region's jewellery landscape."

The company's expansion into New Zealand will also see it supporting local charities, with five per cent of its profits earmarked for various initiatives, including health, housing, education, and environmental programmes. "While our global growth has been rapid, it has always remained firmly aligned with our ESG (Environmental, Social, and Governance) principles," said Mr. Abdul Salam K.P, Vice Chairman of Malabar Group. "With a 100% track record of strict compliance with local regulations, our expansion into New Zealand will uphold our commitment to operating as a model organisation that prioritises responsibility and sustainability in every aspect of its business. This is in line with the trade and development chapter charted out in the CEPA."

Malabar Gold & Diamonds is committed to maintaining its standards of ethical sourcing, eco-friendly processes, and social welfare initiatives as it introduces its products and services to the New Zealand market.