Have your fill & some diamonds too, Spectrum Jewellery Sees Robust Diamond Sales At HPCL Retail Outlets
IF Indian marketers were rushing to petrol pumps to vend pizzas, this is clearly one notch higher. Using petrol pumps to sell a woman’s best friend — diamonds. Bringing in this new revolution is Sangini, a brand popularised earlier by the DTC and under the care of Spectrum Jewellery, a joint venture between Gitanjali group and associates. The petrol pumps are courtesy Hindustan Petroleum. Although India’s jewellery market is estimated to be over $15 billion (Rs 60,000 crore), the organised sector forms a miniscule portion of the same. Speaking to ET, Gitanjali group chairman Mehul Choksi said the group was looking at expanding into 40 places over the next one year. “Our studies indicate that petrol pumps have large number of footfalls on a daily basis. It is but natural that we target these pumps for marketing our products,” he said. As part of the marketing programme, Sangini would provide training to the franchisee (the owner of the petrol pump). Typically, products ranging from a lowly Rs 1,000 to upwards of Rs two lakh would be available at the petrol pumps, Mr Choksi added. HPCL, which has a turnover in excess of Rs 60,000 crore, has a pan-India presence with petrol pumps across the length and breadth of the country. Incidentally, HPCL which is a participant in one of the biggest rewards programme in the country-i mint is betting on pulling in more customers through this association. Already, Spectrum has presence in HPCL pumps in Pune and Kolkata and Bangalore is next in the line. Mr Choksi says that other cities where this model would find favour with include Chennai, Hyderabad and Bhubaneswar. He, however, refused to comment on the monthly sales merely stating that sales were robust.
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