CaratLane, the omni-channel gold jewellery brand in collaboration with Tata Group’s Tanishq, has partnered with digital payments platform PhonePe. The collaboration allows customers investing in ‘24K Digital Gold’ on PhonePe to later exchange it for their preferred jewellery at CaratLane.
CEO Avnish Anand stated that the goal of the digital gold business is to offer a simpler and cost-effective solution for consumers who buy and gift gold for future jewellery purchases. The strategic partnership with PhonePe aims to provide an option for digital gold buyers to redeem their gold for beautiful jewellery, adding value to their investments.
The partnership ensures the availability of 99.99% purity-certified 24K Digital Gold, allowing customers to invest securely from the comfort of their homes. The digital gold can be exchanged for gold jewellery at any of CaratLane’s 260+ stores across India or through its e-commerce platform. PhonePe’s Chief Business Officer for Consumer Payments, Sonika Chandra, expressed enthusiasm about the unique offering, anticipating a transformation in the way people invest in gold. The collaboration aligns with the growing trend of digital gold investment, providing consumers with both convenience and flexibility in their investment choices.
