Malabar Gold & Diamonds to Sparkle in New Zealand with $75 Million Investment

Jewellery retailer Malabar Gold & Diamonds plans to open three showrooms in New Zealand within two years, investing NZD 75 million. This strategy aligns with the UAE-New Zealand Comprehensive Economic Partnership Agreement, enhancing trade and economic ties. The investment will be internally funded, expanding Malabar's global footprint.

Malabar Gold & Diamonds, a renowned jewellery retailer, announced plans to invest NZD 75 million in opening three new showrooms in New Zealand over the next two years. The strategic expansion is encouraged by the Comprehensive Economic Partnership Agreement (CEPA) between the United Arab Emirates and New Zealand.

CEPA aims to strengthen trade and economic collaboration, facilitating Malabar's entry into the New Zealand market. M P Ahammed, Malabar Group Chairman, emphasized that the agreement enables the company to expand its reach and tap into a new customer base.

Currently operating over 375 showrooms across 13 countries, Malabar Gold & Diamonds continues to grow its international presence. The expansion into New Zealand will be financed through internal resources, marking a significant milestone for the retailer.

(With inputs from agencies.)