M&B Private Jewelers, a third-generation jewellery company based in Hong Kong, is eyeing to open multiple retail shops in Australia, citing ease of doing business and a stable domestic market as catalysts.

Roi Sheinfeld, CEO of M&B Group, said the first shop will likely open in Sydney in the second quarter of 2025. The company is aiming to open two to three more stores in the country eventually. 

“Australia is an attractive destination, logistics-wise. It has a healthy economy and people do not wait to go on trips to other countries like Hong Kong to buy jewellery,” explained Sheinfeld. 

By comparison, retail consumers from Taiwan, Indonesia and Malaysia, to name a few, would often travel elsewhere to make their luxury purchases, he added. Some Asian markets, meanwhile, necessitate having local partners to set up businesses while others have more stringent taxation laws and logistical requirements. 

M&B Private Jewelers, a subsidiary of M&B Group, recently opened a new flagship store in Hong Kong in April 2024. The company also has a presence in Singapore. 

According to Sheinfeld, the retailer specialises in the cutting and polishing of fancy shape diamonds and rare fancy colour diamonds as well as jewellery design customisation. Among its top sellers are bespoke jewellery pieces.

M&B Private Jewelers has also partnered with US-based lab-grown diamond producer Diamond Foundry, which supplies the company with stones for its lab-grown diamond collections. The company now offers two main product lines: Natural diamonds and lab-grown diamonds.

“Our boutique expansion has added lab-grown diamonds to our inventory as a response to growing requests. While lab-grown diamonds are gaining traction, natural diamonds remain the cornerstone of our offerings,” he noted.