“The legacy of trust, tradition and responsible craftsmanship that Malabar Gold & Diamonds brings to New Zealand will establish us as the preferred jewellery shopping destination in the market. This milestone is not just a win for our brand but a testament to the global recognition of centuries-old Indian jewellery artisanship,” Ahammed said.
“We see New Zealand as a land of immense opportunity and cultural synergy, and this launch marks the beginning of a long-term relationship with the market and its people.”
Malabar Gold and Diamonds has opened its first retail store in New Zealand in Auckland’s Botany Town Centre, with Minister Mark Mitchell and Auckland Mayor Wayne Brown in attendance.
The store marks the beginning of a $75 million expansion by the business into New Zealand, which will see additional stores open over the coming years in Wellington, Hamilton and Christchurch, creating roughly 80 new retail jobs.
A spokesperson for the business confirmed its Hamilton store is on track to open within the next six months.
Malabar also plans to open stores in Fiji and Australia as it grows its footprint across Oceania.
The move follows the Comprehensive Economic Partnership Agreement (CEPA) signed between New Zealand and the United Arab Emirates, which came into effect earlier this year and has opened new trade and investment opportunities between the two nations.
Malabar Group vice chairman Abdul Salam K.P said the Auckland launch witnessed an “unprecedented turnout” and an “overwhelming response from the local community”.
“It was heartening to see people from diverse backgrounds appreciating the artistry, craftsmanship and heritage that define Malabar Gold & Diamonds,” Salam K.P said.
“This achievement goes far beyond numbers; it reflects the emotional connection people share with our creations and the trust our brand continues to inspire. New Zealand has set a remarkable tone for the next phase of our international growth.”
Malabar Gold and Diamonds, founded in India in 1993 and headquartered in the United Arab Emirates, has grown into a US$7.36 billion business operating across 14 countries, with more than 410 showrooms and 25,000 employees.
Spending on jewellery is one of the few areas of growth in the past year in the apparel section.
ANZ’s research released last week showed spending in jewellery stores was up 9.1% year-on-year for September and up 0.9% month-on-month.
“The picture is quite mixed when you look at annual growth. Jewellery stores are doing much better, as are tailors. But at the other end of the scale, childrenswear stores continue to see considerably lower turnover than a year ago.”
Across the apparel sector, spending was down 0.2% annually and fell 0.8% month on month.
But not all jewellers are raking it in.
Michael Hill International has faced a string of retail crime over the past few years and the unexpected l deaths of its founder and previous chief executive.
In its most recent result, New Zealand sales were down 5.5% year-on-year as the wider business reported flat revenue and a net profit of $2.1m.
The New Zealand segment’s sales were down 3.2% over the first seven weeks of FY2026.
Tom Raynel is a multimedia business journalist for the Herald, covering small business, retail and tourism.
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