Vakrangee Limited to launch its 3,300+ Nextgen Vakrangee Kendras across Pan India on 14th January 2019. After successful launch in the Mumbai Metropolitan Region (MMR) & National Capital Region (NCR), the company has now announced the pan-India rollout of these outlets. These Nextgen Vakrangee Kendras offer a comprehensive range of products and services across banking, insurance, ATM, assisted e-Commerce, e-Governance, Financial services and Logistics.
These Nextgen outlets are spread across 20 states, 350+ districts and 2,000+ postal codes of the country, out of which 70% outlets are from Tier 5 and Tier 6 cities. Overall in the Pilot phase, the company plans to have 4,000+ Nextgen Vakrangee Kendra stores.
Since 2011, the Vakrangee Kendras have evolved from being a non-exclusive store with a single line of service to Nextgen Vakrangee Kendras. These Nextgen outlets are based on an exclusive digital convenience store model providing access to multi line of services spread across Banking, ATM, Insurance, Financial services, e-Commerce, e-Governance and Logistics. The Nextgen Kendras boast of a modern and standardized format with a uniform look and feel in all the outlets aimed towards building consistent service levels and uniform consumer experience.
Commenting on the same, Mr. Dinesh Nandwana, MD & CEO further said “This is a big milestone towards our consolidation exercise to upgrade and standardize all our existing Vakrangee kendras to the Nextgen model. We have already successfully launched these Nextgen outlets in the MMR and NCR Region and we are further launching 3,300 stores all over the country. Overall our pilot phase would entail 4,000+ NextGen outlets.”
He further added, “We have initiated the process of upgradation of the rest of the stores and we plan to upgrade these entire stores by CY2019. We are aspiring to be the most trustworthy physical as well as online convenience store across India, positively moving towards Vakrangee Kendra’s new brand philosophy of ‘AB Poori Duniya Pados Mein’.”
This Nextgen model also embodies technological advancements such as mandatory ATMs that enable the ease of financial transactions; centralized monitoring with the help of CCTV Cameras which would provide remote assistance to the pan-India Kendras, digital advertising through digital signage for brand partners, along with biometric and pin pad devices to enable all kind of payments mechanisms.
In its pursuit of bringing about a revolution in the ‘Rutail’ (rural-retail) sector of India; Vakrangee, with this launch of Nextgen outlets, also aims to create a distinct stronger brand identity across India.
Vakrangee which is considered a pioneer of asset-light franchisee-based business model in the country intends to upgrade its network of Nextgen Vakrangee Kendras to 45,000 Kendras by 2019 and further increase it to 75,000 by 2020.