Kalyan Jewellers partners with Augmont to enter digital gold segment
Retail jewellery major Kalyan Jewellers has partnered with Augmont, an integrated precious metals management company for its entry into the digital gold segment.
With this partnership, Kalyan Jewellers will provide digital gold facilities to its customers. The company will provide its customers with options to purchase and store 24-karat pure gold digitally for as low as Rs100 ($1.5) on the platform.
At a later stage, customers will have the option to redeem their digital gold as physical gold coins or jewellery at the Kalyan Jewellers showrooms across the country.
Commenting on the partnership, Ramesh Kalyanaraman, executive director at Kalyan Jewellers in a statement said: “Gold has always been a preferred saving option among Indians, and in the post-Covid-19 era it has also emerged as the safest and most lucrative long-term asset. We have witnessed a renewed interest in gold from younger, first-time customers, who are looking at convenient and easy means of purchasing the yellow metal. The introduction of digital gold will provide a holistic ecosystem for consumers.”
As online gold and jewellery purchases continue to rise in popularity, jewellery retailers have been venturing into the world of digital gold sales. Earlier this month, jewellery majors Tanishq and Senco Gold had also announced their entry into this segment.
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