- MMTC-PAMP
is poised to expand its reach in Karnataka, Tamil Nadu, Telengana and
Andhra in the initial phase by tying up with top jewellers in key cities
across the region
- Plans to
expand to 100 cities in the South by 2025, including 50 key cities across
Karnataka and Tamil Nadu.
- The brand will also invest in 15 wholly owned retail outlets to add to its current footprint to help jewellers and retail customers recycle old gold
New
Delhi: MMTC-PAMP,
India’s only fully integrated ecosystem for gold and silver, recently announced
its strategic decision to expand its footprint in key cities across Karnataka,
Tamil Nadu, Telengana and Andhra. Building on the cultural affinity this region
exhibits towards Gold & Silver, the company will reach out to around 1000
local jewellers and retail outlets over the next 3 years, reinstating its
promise of unmatched trust, purity, craftsmanship and authenticity. This move
is strategically aligned to target consumers looking to buy purest gold and
silver coins and bars from their trusted jewellers.
The
brand also plans to open 15 wholly owned retail stores in the region over the
next 3 years, while expanding its distribution to deepen reach across 100
cities by 2025. This would be part of a larger 200 city wide expansion
that the brand plans to execute across the length and breadth of the country.
Speaking
on the announcement, Vikas Singh, MD & CEO, MMTC-PAMP said, “Making up over 40% of the total
Indian precious metals (gold & silver) market, the region’s affinity
towards them outshines many other markets. With this expansion, MMTC-PAMP
would be offering 24K, 999.9 purest gold and silver coins and bars from its
wide portfolio of products. We bring in unmatched credentials as we are India’s first and only
London Bullion Market Association (LBMA) Good Delivery refinery, accredited for
both Gold and Silver, thereby delivering the highest levels of purity and
craftsmanship in our products. Our foray into the region is a natural
progression as we consolidate our sectoral leadership across the entire gold
and silver ecosystem.”
Established
in 2008 as a joint venture between MMTC Ltd., a Govt of India undertaking, and
Switzerland based bullion brand PAMP SA, MMTC-PAMP has built India’s only fully
integrated ecosystem for Gold --- Digital Gold, Bullion (Gold & Silver),
Minted Coins (Gold & Silver), and Recycling old gold. MMTC-PAMP is already
India’s leader in digital gold, and has a strong customer base in Bangalore,
Chennai, and Hyderabad, which feature in top 10 cities which are trading in
digital gold. As the brand makes further forays in the region, it is looking to
offer both digital and physical gold investment options to customers.
“MMTC-PAMP
has a retail footprint in top 7 cities in the region, and the planned expansion
will help build access to its Purity Verification Centres which offer
world-class gold authentication and valuation technology thereby allowing
jewellers and retail customers realise full value when selling back their
precious old gold. Building on our growth momentum, we expect to corner around
20 per cent of our revenues from the region by offering the customers the
option of either buying from a distinct portfolio of the purest products, or
selling back their precious jewellery to MMTC-PAMP.”, Mr. Singh added.
MMTC-PAMP
will also launch a limited edition 999.9 purest 20 gram Silver coin featuring
Lord Murugan in the Tamil Nadu market, and plans to launch more such region
appropriate collectibles as part of its devotional series which already has
coins featuring deities such as Shri Balaji, Lakshmi-Ganesh, Radha-Krishna,
Bodhi Tree and many more from its divinity series.
As
part of its consolidated growth strategy, MMTC-PAMP will be partnering with
over 1000 BIS approved jewellers in the region. With the first phase of tie-ups
with large retailers already underway, the brand would be subsequently reaching
out to jewellers in tier 1 cities through a tiered distribution model. Select
retailers would also be on-boarded through ‘The Elite Circle Program’ - an
invite-only exclusive programme for India’s leading jewellers who will be
entitled to the full-suite of MMTC-PAMP products and services, priority stock
allocation, product customisation, assistance with visual merchandising, and
additional services support on top of many other unique benefits that the brand
offers.
About MMTC PAMP: A joint venture between Switzerland based bullion brand, PAMP SA, and MMTC Ltd, a Government of India Undertaking, MMTC-PAMP seamlessly marries Swiss excellence with Indian insights. MMTC-PAMP India Pvt. Ltd. is internationally recognized as an industry leader for bringing global standards of excellence to the Indian precious metals industry. We have received several awards since our inception from local and global industry bodies for the transparency and sustainability that we rigorously uphold in our sourcing, refining and supply of precious metals in the Indian market. MMTC-PAMP is the only LBMA-accredited Gold & Silver refinery in India, and is accepted across global commodity exchanges and central banks.
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