Malabar Gold & Diamonds, the world’s sixth-largest jewellery store, is about to join the New Zealand market, marking its 14th global expansion. This strategic move is the consequence of the UAE-New Zealand Comprehensive Economic Partnership Agreement (CEPA), which promotes trade and investment opportunities between the two countries.
Malabar Gold & Diamonds, which has its international operations headquartered in the UAE, sees CEPA as a critical enabler for efficient corporate expansion. Chairman MP Ahammed underlined that the deal promotes economic relations and provides an opportunity to introduce the brand’s quality jewelry to a wider audience. “This milestone aligns with our vision to become the world’s leading jewellery retailer,” said the chairman.
The company will invest NZD 75 million in its first phase, opening three world-class shops to meet New Zealand’s expanding demand for high-quality jewellery. “New Zealand offers a promising market, and with CEPA facilitating trade, we see immense potential to connect with customers who value craftsmanship and authenticity,” said Shamlal Ahamed, Managing Director of International Operations. Ahmad Zakkout, New Zealand’s Trade Commissioner to the UAE, praised the investment and emphasized CEPA’s role in promoting commercial prospects. “It’s encouraging to see CEPA already driving increased trade and investment between our countries,” he added.
Malabar Gold & Diamonds‘ expansion is driven by its strong ESG (Environmental, Social, and Governance) standards. The brand is dedicated to ethical sourcing, environmentally sustainable procedures, and social responsibility, allocating 5% of its income to CSR programs in each country of business.