Augmont Gold For All has announced its new collaboration with the jewellery brand CaratLane which aims to make gold investing more straightforward for customers and modernise the approach to jewellery purchasing through the introduction of digital gold.
Overview of the Partnership
The alliance between Augmont and CaratLane marks a significant step in the evolution of the gold technology sector. Augmont covers the full lifecycle of gold, providing services that simplify the processes of gold deposits, financing, and buying gold and silver on EMI. Augmont’s digital gold, which can be bought in denominations starting at just Rs 1, demonstrates the company’s focus on innovation and customer-focused products.
CaratLane complements Augmont’s mission by enhancing access and convenience for users in the gold market. Through this partnership, customers can convert their Augmont digital gold into physical gold at CaratLane stores, offering a straightforward way to manage their investments. Additionally, the ‘Pay by Augmont’ feature enables customers to effortlessly convert digital gold to physical gold directly at CaratLane locations.
Statements from Industry Leaders
Sachin Kothari, Director of Augmont-Gold For All, discussed the partnership’s impact, stating, “This association is a big step for us towards making gold investment easier and more flexible. We are excited to work with CaratLane to enhance the Digital Gold product. This partnership introduces significant advancements in the gold tech ecosystem, making gold investments more manageable and accessible, and providing consumers with flexibility and convenience in their investment choices.”
Avnish Anand, Chief Executive Officer at CaratLane, also shared his views: “Building the Digital gold business aims to offer a simpler, cost-effective solution for consumers who purchase and gift gold for future jewellery needs. Currently, many customers opt for gold coins. This partnership with Augmont is essential in changing this trend. It allows customers who purchase digital gold a new option to use their investments to buy jewellery. This is an exciting development akin to the digitisation of payments, which transformed consumer behaviors significantly. We aim to replicate a similar change in the jewellery space.”
Industry Implications
The partnership between Augmont and CaratLane is likely to influence both the jewellery and investment sectors significantly. For jewellers, this collaboration offers a chance to expand product ranges and incorporate digital solutions into traditional retail models. Allowing customers to convert digital assets into physical jewellery could enhance consumer experiences and promote new forms of investment.
