Brink's Incorporated, a leader in cash and valuables management, digital retail solutions, and ATM managed services, will enhance its collaboration with Malabar Gold & Diamonds.
The new agreement includes implementing Brink's cash management system in Malabar Gold & Diamonds' retail stores in Dubai and utilizing Brink's global precious metals storage facilities. Brink's Global Services has long been the exclusive logistics partner for Malabar Gold & Diamonds, leveraging its advanced vault system to deliver precious metals to major trading areas worldwide. This partnership is set to significantly boost Malabar Gold & Diamonds' global growth, with the company operating over 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 include 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 Shamlal Ahammed, MD-International Operations, Malabar Gold & Diamonds.
Through Brink's 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 their financial performance, minimize 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 testament to our never-ending strive for innovation. The advantages that 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 number one jewellery retailer," commented Abdul Salam K.P, Vice Chairman of Malabar Group.
