Malabar Gold and Diamonds to expand into New Zealand

Dubai: Malabar Gold & Diamonds is set to enter New Zealand as its 14th global market, leveraging the UAE-New Zealand Comprehensive Economic Partnership Agreement (CEPA). The company will invest NZ $75 million in the initial phase, launching three showrooms to introduce its craftsmanship and jewellery collections, it said in a statement.

Malabar Gold and Diamonds, the sixth-largest jewellery retailer globally with over 375 showrooms across 13 countries, said it hopes to foster "increased trade and economic collaboration between the two nations."

“This agreement not only allows us to strengthen economic ties but also allows us to introduce our products and services to a whole new audience,” said MP Ahammed, Chairman of Malabar Group.

This significant investment will launch three world-class showrooms, bringing the brand’s exceptional jewellery collections and renowned craftsmanship to New Zealand’s discerning customers.

"It's encouraging to see the CEPA already driving increased trade and investment between our two countries," said Ahmad Zakkout, New Zealand Trade Commissioner to the UAE and Consul General to Dubai and Northern Emirates.

“We're excited to continue fostering investment and business opportunities between New Zealand and the UAE," he added.

Shamlal Ahamed, Managing Director – International Operations, Malabar Gold and Diamonds, stated that New Zealand is a market brimming with potential. “This is offering us an exceptional opportunity to connect with a diverse customer base that appreciates the artistry, quality, and authenticity synonymous with Malabar Gold and Diamonds,” he added.

“As the UAE stands as one of the world’s premier jewellery trading hubs and the base of our international operations, the CEPA provisions 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," said Abdul Salam K.P., Vice Chairman of Malabar Group.

He added, “While global growth has been rapid, it has always remained firmly aligned with our principles of ESG (Environmental, Social, and Governance). With a 100 per cent track record of strict compliance with local regulations, our expansion into New Zealand will uphold our commitment to operating as a model organization that prioritizes responsibility and sustainability in every aspect of its business. This aligns with the trade and development chapter charted out in the CEPA."

In addition to introducing its signature collections and services to jewellery lovers in New Zealand, Malabar Gold and Diamonds said it would continue its commitment to sustainability and ethical practices.