Malabar Gold & Diamonds accelerates AI-driven business reinvention to ramp up global operations

The brand is building a scalable tech platform, to elevate the customer and employee experience, enhance business agility and create new value and growth, and ensure regulatory compliance with local trade laws in all 13 markets in which it operates

New Delhi: Malabar Gold & Diamonds has begun an initiative to accelerate its technology reinvention through an AI-powered, cloud-enabled digital core. This initiative aims to elevate the customer and employee experience, enhance business agility and create new value and growth for the jewellery retailer’s global operations.

Leading tech company Accenture will develop and deliver a scalable and secure technology platform—built on a robust digital core—to streamline Malabar Gold & Diamonds’ business processes including finance, manufacturing, supply chain management and retail, and ultimately drive operational and competitive excellence. By leveraging a strong data foundation, the jewellery retailer can better forecast demand and adapt to changing market needs faster than ever before.

The custom-built platform will enhance productivity and customer satisfaction by dynamically adjusting sales, marketing and fulfilment plans using real-time information on the availability and pricing of precious metals and stones. As a result, this will bolster both online and offline shopping experience for customers from browsing to buying including billing and check-out.

Developed with leading design principles, the platform will ensure regulatory compliance with local trade laws in 13 markets. Going forward, Malabar Gold & Diamonds will scale and activate this platform through employee training and adoption strategies to drive a data-driven culture.

Abdul Salam K.P, Vice Chairman of Malabar Group, said, “Malabar Gold & Diamonds has always been at the forefront of embracing technology to enhance our services and thereby improve the shopping experience of our customers. By teaming up with Accenture to deploy a unified, scalable digital platform, we are reiterating our commitment to becoming a future-ready organization, setting new standards, best practices and new ways of working for the global jewellery industry.”

Due to this initiative, the brand’s digital core investments are expected to deliver up to 60% higher revenue growth rates and 40% boost in profit. It will standardize processes and build the technology capabilities needed to be ready for continuous reinvention, in the face of ongoing disruption and supply chain complexities. It will help the company unlock new growth avenues and improve operational agility and responsiveness to meet customer needs.

Malabar Gold & Diamonds was established in 1993 and is the flagship company of Malabar Group, a leading diversified Indian business conglomerate. Ranked as the sixth largest jewellery retailer globally, it has a strong retail network of over 380 outlets spread across 13 countries in addition to multiple offices, design centres, wholesale units, and factories spread across India, the Middle East, Far East, the USA, the UK, Canada & Australia.

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