Latest news with #AhmadZakkout
Daily Tribune
11-02-2025
- Business
- Daily Tribune
Malabar Gold & Diamonds to expand into New Zealand
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 recognized 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 capitalizing 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 Mr. M.P Ahammed, Chairman of Malabar Group. In the initial phase of its expansion into New Zealand, Malabar Gold & Diamonds will invest NZD 75 million to establish its presence in the region. This significant investment will see the launch of three worldclass showrooms, bringing the brand's exceptional jewellery collections and renowned craftsmanship to New Zealand's discerning customers. "It's encouraging to see the CEPA already driving increased trade and investment between our two countries," said New Zealand Trade Commissioner to the United Arab Emirates and Consul General to Dubai & Northern Emirates, Mr. Ahmad Zakkout. 'We're excited to continue fostering investment and business opportunities between New Zealand and the United Arab Emirates.", he continued. '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 Mr. 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 Mr. Abdul Salam K.P, Vice Chairman of Malabar Group. In addition to introducing its signature collections & services to jewellery lovers in New Zealand, Malabar Gold & Diamonds will continue its commitment to sustainability and ethical practices. The new showrooms will adhere to the brand's globally recognized standards of ethical sourcing, eco-friendly processes, and social welfare initiatives.
Muscat Daily
10-02-2025
- Business
- Muscat Daily
Malabar Gold and Diamonds to expand into New Zealand
Malabar Gold & Diamonds to expand into New Zealand, leveraging the opportunities created by the UAE-New Zealand Comprehensive Economic Partnership Agreement (CEPA) 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 Mr. M.P Ahammed, Chairman of Malabar Group. In the initial phase of its expansion into New Zealand, Malabar Gold & Diamonds will invest NZD 75 million 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. 'It's encouraging to see the CEPA already driving increased trade and investment between our two countries,' said New Zealand Trade Commissioner to the United Arab Emirates and Consul General to Dubai & Northern Emirates, Mr. Ahmad Zakkout. 'We're excited to continue fostering investment and business opportunities between New Zealand and the United Arab Emirates.', he continued. '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 Mr. 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 Mr. Abdul Salam K.P, Vice Chairman of Malabar Group. In addition to introducing its signature collections & services to jewellery lovers in New Zealand, Malabar Gold & Diamonds will continue its commitment to sustainability and ethical practices. The new showrooms will adhere to the brand's globally recognized standards of ethical sourcing, eco-friendly processes, and social welfare initiatives. ESG (Environmental, Social & Governance) initiatives have been a key component of Malabar Group's operations throughout the years, with a focus on Health, Housing, Hunger Eradication, Women empowerment, Education and Environment. The group ensures that all stakeholders continue to benefit from the growth of the business and contributes 5% of their profit to CSR/ESG initiatives in the same country of operation.
Khaleej Times
05-02-2025
- Business
- Khaleej Times
Malabar Gold expands to New Zealand
Seizing trade opportunities from UAE-New Zealand free trade agreement, Malabar Gold & Diamonds, the sixth-largest jewellery retailer worldwide, has announced its expansion into New Zealand, marking a significant milestone in its global operations. This move comes in the wake of the Comprehensive Economic Partnership Agreement (Cepa) recently signed between the UAE and New Zealand, which aims to enhance trade and economic collaboration between the two nations. The UAE-based company, which operates over 375 showrooms across 13 countries, will invest NZ$75 million to establish its presence in New Zealand. Initially, the company plans to open three state-of-the-art showrooms, showcasing its renowned jewellery collections and craftsmanship to the discerning New Zealand market. "This agreement not only strengthens economic ties but also introduces our products and services to a new audience," said M.P Ahammed, Chairman of Malabar Group. He emphasized that the CEPA significantly facilitates their entry into New Zealand, aligning with the company's vision to become the world's leading jewellery retailer. New Zealand's Trade Commissioner to the UAE, Ahmad Zakkout, expressed optimism about the Cepa's potential to drive increased trade and investment between the two countries. "It's encouraging to see the Cepa already fostering business opportunities," he stated, highlighting the strong connection between the UAE and New Zealand. Shamlal Ahamed, managing director of International Operations at Malabar Gold & Diamonds, noted that New Zealand is a market rich with potential. "This expansion provides an exceptional opportunity to connect with a diverse customer base that appreciates the artistry and quality synonymous with our brand," he said. He added that the Cepa would create a more efficient pathway for their operations in New Zealand. Malabar Gold & Diamonds is committed to maintaining its high standards of sustainability and ethical practices in this new market. The company has a long-standing dedication to Environmental, Social, and Governance (ESG) principles, ensuring compliance with local regulations and prioritizing responsible business operations. Mr. Abdul Salam K.P, vice chairman of Malabar Group, emphasized the company's commitment to operating as a responsible organization and contributing 5.0 per cent of its profits to CSR and ESG initiatives in the countries where it operates. The new showrooms in New Zealand will adhere to Malabar's globally recognized standards of ethical sourcing and eco-friendly practices. The company has a history of supporting various social welfare initiatives, focusing on areas such as health, education, and women's empowerment.
