Vending machines to cough out jewelleries now

Mumbai: After cash, now gold and diamond will be available through vending machines, where one can now purchase medallions, coins or jewellery, thanks to Gitanjali Group which has launched such a machine here.

The group plans to set up 75 such gold and diamond ATMs at premium malls, airports and temples in the next three years, giving customers another one-stop shopping option.

[caption id=“attachment_122174” align=“alignleft” width=“380” caption=“Now gold and diamond will be available through vending machines. AP”]  [/caption]

“It is a kind of vending machine for both gold and diamond jewellery designed like an ATM. The machine will dispense gold and silver bars, coins, pendants, with religious motifs and a range of diamond studded jewellery, making it the

More from Fwire

BCCI earned more than Rs 2,400 crore in IPL 2022, reveal documents Eight Russian judokas barred from world championships after Ukraine boycott

first of its kind in the country,” Gitanjali Export Corporation Chief Executive Sanjeev Agarwal said.

“We will spend about Rs 50 crore for this initiative and we expect about Rs 450-500 crore business from this in the next three years,” he added.

This vending machine will give the consumer a mix of up to 36 options in different sizes and prices ranging from Rs 1,000-30,000 from across these categories, which will include coins in varying grammages.

This new retailing format will be ideally suited for last minute purchases on auspicious occasions and for gifting, providing instant gratification to the purchaser.

PTI