India and UAE-based jewellery retailer Malabar Gold & Diamonds has announced its expansion into New Zealand, marking its 14th global market.

Malabar Gold & Diamonds is the flagship business of Indian conglomerate Malabar Group. The jeweller has more than 375 showrooms across 13 countries, with its international operations based out of the Malabar International Hub in the UAE.

During the initial phase of the expansion, the company plans to invest $75 million in three showrooms across Auckland, Wellington and Hamilton.

The showrooms will offer signature collections and services and will adhere to the brand’s standards of ethical sourcing, eco-friendly processes and social welfare initiatives.

The move comes after the Comprehensive Economic Partnership Agreement (CEPA) between the UAE and New Zealand took effect last month.

“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. 

“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,” added Shamlal Ahamed, MD of international operations at Malabar Gold & Diamonds.