Gitanjali ATMs to cough adult trinket now

Gitanjali Group has launched a bullion and solid ATM machine, a initial of a kind that vends bullion medallions, coins as good as jewellery. The association also has combined 4,00,000 sq ft sell space during H1 FY’12.

The initial ATM was non-stop in Mumbai and a association skeleton to open 50 some-more in 18 months, pronounced Mehul Choksi, authority of Gitanjali Group. Designed like an ATM, a appurtenance dispenses bullion and china bars coins, pendants with eremite motifs and solid studded jewellery.

“This is initial such appurtenance in a universe that vends trinket too. There are machines vending bullion medallions and coins in a Gulf region,” he said.

The ATM will give a consumer a brew of 36 options in opposite sizes, cost points and designs to select from opposite these categories. This might embody coins in varying grammage, pendants with eremite motifs, heart made pendants and diamond-studded pendants. The prices will operation from Rs 1,000 to Rs 30,000. “It has a good stress in India, where customarily such equipment are bought as tokens to observe traditions on portentous days. But it also offers choices for occasions like Valentine’s Day, or to a father who forgot an anniversary,” pronounced Sanjeev Agarwal, CEO, Gitanjali Export Corporation.

The association skeleton to have 50 such ATMs in places with high consumer footfalls such as reward malls, airports and temples for that a sum investment on both machines and sell will be around Rs 200 crore.

Meanwhile, a association combined 261 points of sales (POS) in H1 FY’12 out of which, 42 are authorization stores, 24 possess stores, 45 complicated stores and over 150 shop-in-shops. With a further of 4,00,000 sq ft sell space in H1, a organisation now has tighten to 1.7 mn sq ft area underneath a management. The sum investment on a new stores has been around Rs 500 crore, of that 30 to 40 per cent has been saved by a association and a rest by franchisees. The association is focused on enlargement in tier II and III cities. As a direct for bullion trinket is second tier towns is clever and growing, all of a pivotal brands like Gili, Nakshatra, Asmi, D’Damas, Sangini, Diya, have come adult with bullion collections to enrich a solid jewellery.