Gitanjali Gems has launched a new and innovative step where in they have launched their first ATM like vending machines which will dish out gold, silver, and diamond-studded jewellery, making it the first of its kind anywhere in the world. The first such machine has already been launched at Phoenix Mills complex at Lower Parel in Mumbai
They are planning to launch 75 such gold and diamond 'ATMs' at premium malls, airports and temples in the next three years. This is to cater for all those looking for last minute gift purchases and these have been priced between Rs1,000-Rs30,000, aiming to serve all classes of customers.
This is a unique step by which now one can get gold and diamond jewellery and can also get gold and silver bars, coins, pendants, with religious motifs and a range of diamond-studded jewellery. This announcement has been made by Sanjeev Agarwal who is Gitanjali Export Corporation Ltd chief executive.
Now it needs to be seen if Tanishq, Reliance jewels will follow suit in this segment as this is a lucrative niche and Gitanjali has hit the bulls eye and same is also reflected in its stock price.
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