Jewellers Madanlal Chhaganlal launches gold foil coin, expands luxury gifting choices  

Noticing a shift in customer preferences regarding traditional gifting, the brand’s decision to launch the product was well-received by customers opting for bulk gifting 

Indore: The market for luxury gifting has great scope for exploration and many brands are taking on this requirement with customised jewellery and various other products. In the case of Jewellers Madanlal Chhaganlal, their recently launched gold foil coin is an elegant and convenient take on luxury gifting, which has gradually become the norm when it comes to wedding, corporate, and festive gifting. 

“We wanted to cater to the market of corporate gifting and value gifting. These coins are made such that they look like 15-20 gram, but it is below 1 gram in denominations of 50-600 milligrams for corporate gifting and wedding gifting,” said Priyesh Nagar, Partner, Jewellers Madanlal Chhaganlal. Initially, the brand did not assume that the coin would be a choice of gifting for wedding customers but post-launch, this base of consumers also approached the brand with orders, enabling the brand to further explore a trend where these coins may be a preferred alternative to gifting money in envelopes. 

Before launching the product, the brand recognised an opportunity in the gifting market, where the cost of silver, though lower than gold, often made traditional precious metal gifts less accessible to many. This was especially relevant for bulk gifting at weddings and corporate events, where gifts need to be both meaningful and personalised. To meet this need, the jeweller introduced a lightweight gold foil coin, thoughtfully designed with secure yet attractive packaging. This offering successfully combines affordability with the tradition of gifting precious metals, making it an appealing choice for a wider audience. 

Nagar commented that their customers received the product well and responded positively with several orders. The brand also touched a new entry point with corporate gifting for occasions such as employee recognition rewards. “These coins also have a buyback guarantee which makes them more valuable in the form, so not only is it a precious gift but can also be redeemed if a customer wants to do so,” he explained. 

The primary customisation of the product is as per the weight of the coin. But the jewellery brand is also taking the personalisation one step further by inserting the branding of their corporate clients for orders that exceed a minimum of 100-150 units. “Since we are able to fulfil this branding requirement for them, customers are even more satisfied with the product and its customisation”. 

Although the jewellery brand is not currently prioritizing how the new product might drive an immediate increase in sales, it is strategically focused on the potential to tap into new markets with this offering. According to Nagar, their branding incorporated into the product plays a key role in enhancing the brand’s visibility. Each gifting occasion that the product is part of represents a fresh opportunity to showcase the brand and its offerings to a wider audience. By entering new markets through these gifting opportunities, the brand can gradually build recognition and strengthen its presence, laying the groundwork for future growth. 

Written by Aparna Bhowmick 

Retail Jeweller India Exclusive