Rabindra27th June 2024 Mumbai, Maharashtra, India Malabar Gold & Diamonds, the world’s sixth-largest jewelry group and the 19th-ranked brand in Deloitte’s Luxury Goods World Ranking is extending its partnership with Brink’s Inc. Brink’s Incorporated, a leading provider of cash and valuables management, digital retail solutions, and ATM managed services, will enhance its collaboration with Malabar Gold & Diamonds.
The new agreement includes the implementation of Brink’s cash management system in Malabar Gold & Diamonds’ retail stores in Dubai and the utilization of Brink’s global precious metals storage facilities. Brink’s Global Services has been the exclusive logistics partner for Malabar Gold & Diamonds for many years, leveraging its state-of-the-art vault system to deliver precious metals to major trading areas worldwide. This partnership is set to boost the global growth of Malabar Gold & Diamonds significantly. Malabar Gold & Diamonds operates more than 350 stores across 13 countries.
“Brink’s Global Services has been Malabar Gold & Diamonds’ exclusive logistics partner for several years, and we are very excited to expand our longstanding partnership with them. By broadening the scope of our partnership to cash management services across our retail stores in the UAE and precious metal storage facilities globally, we are further optimizing our efficiency in retail operations and driving Malabar Gold & Diamonds’ global growth,” commented Mr. Shamlal Ahammed, MD-International Operations, Malabar Gold & Diamonds.
Through Brinks’ state-of-the-art cash management solutions, Malabar Gold & Diamonds’ retail stores in the UAE will optimize cash resources, improving liquidity and streamlining cash-related operations. By utilizing these solutions, Malabar Gold & Diamonds can enhance its financial performance, minimize risk, and maintain better control over its cash reserves.
“The signing of this agreement is a great example of the strong partnership between Brink’s and Malabar Gold & Diamonds. We look forward to many more years of successful collaboration as we continue to grow our businesses alongside each other,” commented Mark Eubanks, President and CEO of Brink’s.
“Malabar Gold & Diamonds has always been a pioneer in the adaptation of technology and our latest venture with Brink’s, a name synonymous with security, trust and excellence, is a testimony to our never-ending strive for innovation. The advantages that the Brink’s cash management services and precious metal storage facilities offer us will add another layer of efficiency to our global operations, aiding us on our path to becoming the world’s no 1 jewellery retailer,” commented Mr. Abdul Salam K.P, Vice Chairman of Malabar Group.
With access to Brinks’ sophisticated vaults, Malabar Gold & Diamonds will be able to access precious metals across key trading locations, boosting their global growth.
