One of the largest retailer globally of Indian jewellery is expanding its footprints into New Zealand with plans to launch showrooms in three cities here.
Malabar Gold & Diamonds with a global turnover of US$6.2b and the 6th largest jewellery retailer globally, has announced it will open showrooms in Wellington, Auckland and Hamilton as part of a $75m expansion into this country.
With over 375 showrooms across 13 countries, New Zealand will be the 14th global country of the company operations. Company’s origin traces back to 1993 in Kerala, India and their first overseas store was opened in the UAE in 2008.
New Zealand charities are also set to benefit from the company’s launch with 5% of profit contributed to a range of health, housing, education and other initiatives in each country they operate in.
This move is aligned with the Comprehensive Economic Partnership Agreement (CEPA) signed between the United Arab Emirates and New Zealand last year and fosters increased trade and economic collaboration between the two nations.
“As a globally recognised jewellery retailer managing its international operations from the UAE, the 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…,” says 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 UAE and Consul General to Dubai & Northern Emirates, Ahmad Zakkout.
“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 Shamlal Ahamed, MD – International Operations, Malabar Gold & Diamonds.
By entering New Zealand’s jewellery market, the company see this expansion as a “transformative step in redefining the region’s jewellery landscape.”
In addition to introducing its signature collections & services to jewellery lovers in New Zealand, Malabar Gold & Diamonds are assuring to continue their 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.
