One of World's Largest Jewellery Brands in $75m NZ Retail Expansion - Following UAE FTA
Malabar Gold & Diamonds, the 6th largest jewellery retailer globally with over 375 showrooms across 13 countries, is set to expand its footprint into New Zealand.
In the initial phase of the expansion, the company will invest over NZ$75 million to open three showrooms in Auckland, Wellington and Hamilton.
New Zealand charities are also set to benefit from the company's arrival with 5% of profit contributed to a range of health, housing, education and other initiatives in each country they operate in.
This strategic move is aligned with the Comprehensive Economic Partnership Agreement (CEPA) signed between the United Arab Emirates and New Zealand, which came into effect in January 2024 and fosters increased trade and economic collaboration between the two nations.
With the entirety of Malabar Gold & Diamonds’ international operations based out of the Malabar International Hub in the UAE, the signing of CEPA between the UAE & New Zealand will enable the brand to further streamline their business operation as it relates to expanding their retail presence into the 14th global country of operation.
“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,” says Mr. M.P Ahammed, Chairman of Malabar Group.
"It's encouraging to see the CEPA already driving increased trade and investment between our two countries," said New Zealand Trade Commissioner to the United Arab Emirates and Consul General to Dubai & Northern Emirates, Mr. Ahmad Zakkout.
“We're excited to continue fostering investment and business opportunities between New Zealand and the United Arab Emirates,” he says.
“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,” says Mr. Shamlal Ahamed, Managing Director – International Operations, 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 promotes UAE-NZ trade opens 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.”
“While our global growth has been rapid, it has always remained firmly aligned with our ESG (Environmental, Social, and Governance) principles. 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,” says Mr. Abdul Salam K.P, Vice Chairman of Malabar Group.
In addition to introducing its signature collections & services to jewellery lovers in New Zealand, Malabar Gold & Diamonds will continue its commitment to sustainability and ethical practices. The new showrooms will adhere to the brand’s globally recognised standards of ethical sourcing, eco-friendly processes and social welfare initiatives.