Malabar Gold & Diamonds, one of the world’s largest jewellery retailers, has announced its expansion into New Zealand with a substantial investment of NZD $75 million. The move marks the company’s entry into its 14th global market and aligns with the recently signed Comprehensive Economic Partnership Agreement (CEPA) between the United Arab Emirates (UAE) and New Zealand.
A High-Potential Market
As part of its expansion strategy, Malabar Gold & Diamonds plans to open three world-class showrooms in New Zealand over the next two years. The investment will be directed toward infrastructure, marketing, and establishing strong local partnerships to ensure a successful market entry.
“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,” said Shamlal Ahamed, Managing Director – International Operations.
The company, which was founded in Kerala, India, in 1993, has grown into the world’s sixth-largest jewellery retailer, with more than 375 showrooms across 13 countries. Its international operations are headquartered in the UAE, where it manages its global expansion and strategic investments.
CEPA Agreement Opens Doors for Expansion
The UAE-New Zealand CEPA, signed on January 14, 2025, aims to strengthen trade and investment ties between the two nations. The agreement provides an efficient and streamlined pathway for businesses like Malabar Gold & Diamonds to expand into new markets.
“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,” said M.P Ahammed, Chairman of Malabar Group. “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 jewelry retailer.”
New Zealand’s Trade Commissioner to the UAE, Ahmad Zakkout, welcomed the investment, stating that it was encouraging to see CEPA already driving increased trade and business collaborations.