Sunday, July 7, 2024

Malabar Gold & Diamonds Expands Partnership with Brink’s Inc. to Enhance Global Operations

Malabar Gold & Diamonds has announced an expanded partnership with Brink’s Incorporated, a leader in cash and valuables management, digital retail solutions, and ATM managed services. The new agreement will see the implementation of Brink’s cash management system in Malabar Gold & Diamonds’ retail stores in Dubai and the use of Brink’s global precious metals storage facilities.

Brink’s Global Services, the exclusive logistics partner for Malabar Gold & Diamonds, has long utilized its advanced vault system to deliver precious metals to key trading areas worldwide. This expanded partnership is expected to significantly boost Malabar Gold & Diamonds’ global growth, with the company operating over 350 stores across 13 countries.

“Brink’s Global Services has been our exclusive logistics partner for several years, and we are thrilled to expand our longstanding partnership. By incorporating cash management services across our UAE stores and utilizing global precious metal storage, we are optimizing retail operations and driving global growth,” said Shamlal Ahammed, MD-International Operations, Malabar Gold & Diamonds.

Brink’s state-of-the-art cash management solutions will enable Malabar Gold & Diamonds’ UAE retail stores to optimize cash resources, improve liquidity, and streamline cash-related operations. These enhancements will help the company boost financial performance, minimize risk, and maintain better control over cash reserves.

“The signing of this agreement highlights 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 together,” commented Mark Eubanks, President and CEO of Brink’s.

Abdul Salam K.P, Vice Chairman of Malabar Group, added, “Malabar Gold & Diamonds has always been a pioneer in technology adaptation. Our venture with Brink’s, synonymous with security, trust, and excellence, is a testament to our commitment to innovation. Brink’s cash management services and precious metal storage facilities will enhance our global operations, aiding our path to becoming the world’s number one jewellery retailer.”

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