NewsVoir
Mumbai (Maharashtra) [India], June 13: Malabar Gold & Diamonds, the world's sixth-largest jewellery 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 utilisation 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 optimising our efficiency in retail operations and driving Malabar Gold & Diamonds' global growth," commented 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 optimise cash resources, improving liquidity and streamlining cash-related operations. By utilising these solutions, Malabar Gold & Diamonds can enhance their financial performance, minimise risk, and maintain better control over their 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 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.
The Brink's Company (NYSE: BCO) is a leading global provider of cash and valuables management, digital retail solutions, and ATM-managed services. Our customers include financial institutions, retailers, government agencies, mints, jewellers and other commercial operations. Our network of operations in 52 countries serves customers in more than 100 countries. For more information, please visit our website at www.brinks.com.
Malabar Gold & Diamonds was established in 1993 and is the flagship company of Malabar Group, a leading diversified Indian business conglomerate. With an annual turnover of $6.2 billion, the company currently ranks as the 6th largest jewellery retailer globally and today has a strong retail network of over 350 stores spread across 13 countries in addition to multiple offices, design centres, wholesale units, and factories spread across India, Middle East, Far East, the USA, the UK, Canada & Australia. Malabar Gold & Diamonds also features an online store www.malabargoldanddiamonds.com providing customers the opportunity to purchase their favourite jewellery at any time and on any day from the comfort of their homes. ESG (Environmental, Social & Governance) and CSR has been the primary commitment of the group since its inception. The key focus areas of Malabar Group are Health, Housing, Hunger Free World, Education, Environment and Women empowerment. Integrating the principles of responsibility and sustainability into its core business.
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