Officials during the Comprehensive Economic Partnership Agreement signed between the UAE and New Zealand.
Doha: 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.
This strategic move is aligned with the Comprehensive Economic Partnership Agreement (CEPA) signed between the United Arab Emirates and New Zealand, which 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 jewelry retailer.”, commented M.P Ahammed, Chairman of Malabar Group.
In the initial phase of its expansion into New Zealand, Malabar Gold & Diamonds will invest NZD75m to establish its presence in the region. This significant investment will see the launch of three world-class showrooms, bringing the brand’s exceptional jewellery collections and renowned craftsmanship to New Zealand’s discerning customers.
“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,” commented 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 organization that prioritizes responsibility and sustainability in every aspect of its business. This is in line with the trade and development chapter charted out in the CEPA” said Abdul Salam K.P, Vice Chairman of Malabar Group.
