Whooping a business opportunity of Rs. 2,50,000 crore, Diviniti has excelled in the spiritual business in India for 70 years now, writes Zarafshan Shiraz.
With India’s spiritual market estimated to be over $30 billion, the opportunity is now spawning a whole variety of startups and online ventures. With many taking advantage of the market's fragmentation and low technology penetration, Diviniti is one such business that has held its fort for 70 years now and still soaring with promising business plans.
Not just in automobiles, the company has over the last five years, diversified into home fragrance with ‘Diviniti Aroma’ range and has exclusive show rooms in Thailand, UAE, USA, UK and Canada. Among some of their top launches is their incense and puja product brand ‘Arghyam’ which is extremely successful in some of the northern states in the country.
Another fact that sets them apart is them being the official gift partner of the Rashtrapati Bhavan. Being the only one in business to have more than fifty design patents, they are the leading car idols manufacturers in the world.
CURRENT PRESENCE
Diviniti started from a studio as a passion of Shri N K Taneja and was blessed by none other than Late Hon. Rajendra Prasad, the first president of the country. . It currently caters to personal and corporate gifting, aroma and incense range of products.
From developing the Momento of Rashtrapati Bhawan to doing Badge of Sacrifice and Certificate of honor for the Defense Services of the Country, the organisation is into various products and services. Having more than ten thousand SKUs (stock keeping units) the prices range from Rs. 299 to Rs. 5 Lakh.
The products are manufactured using Swiss Technology. All of their products are plated with 24 Carat gold and come with a life time warranty of gold plating.
SUCCESS MANTRA
Franchising model of Diviniti is such that the investor gets the complete range of products from a single company and the reach of Diviniti brand gets strengthened which is a win-win situation for both the company and the prospective investor.
While choosing franchisees, they ideally look for conversion model. They are all out for encouraging the existing local gift stores, puja shops and even small mom and pop stores to convert their stores into ‘Diviniti Boutiques’ with nominal investment in interiors and initial stocks.
As Diviniti has a number of fast moving SKUs, the ROI on the additional investment would be very high. They are aiming to have few image stores with complete range of Diviniti products in major metros and Tier 1 cities.
Their sorted mantra for maintaining long term relation with franchisees is by offering innovative products, attractive margin on sales and providing sales and product training.
GROWTH PLAN
Divinity is all out to start ‘Brand Stores’ and the owners are even looking for Shop in Shop (SIS) franchises. With this they aim to offer maximum return to their customers on minimum investment.
Currently, they are planning horizontal expansion of product portfolio. Coming up with a complete range of herbal products with ‘Diviniti Ayurveda’, they are also parallel planning to start a spiritual media channel.
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