To differentiate one’s own property from others and attract higher footfalls, developers are constantly introducing unique concepts in their malls. Following the trend, the AlphaOne mall in Ahmedabad has recently added a kiosk called “Cherishing Moments” to its tenant mix. It offers innovative products made of wax and other related merchandise.
A unique concept called Cherishing Moments was set up a couple of months ago in the AlphaOne mall, Ahmedabad. It is a 100 sq.ft. kiosk that deals in innovative products such as wax hands, designer candles, baby memory prints, and body copy. This is its first-ever outlet but the retailer is planning to take a franchise route for expansion.
How it Started
Cherishing Moments founder Sugandha Malhotra, an MBA in design management from INIFD Chandigarh, first came across the concept of “wax hands” in Malaysia. She realised that there is a huge gap in people’s thinking in India about the usage of wax – it is mostly perceived as raw material for making candles and nothing much else.
To rectify this, Malhotra decided to launch a new concept on wax and Moments Sugandha Malhotra other products and went to Australia for training on the subject. She kick- started the venture by opening a small kiosk in the AlphaOne mall in Ahmedabad in November 2012. It is currently attracting a footfall of 60 to 70 people on a weekday.
The kiosk is positioned as a customised memory/souvenir provider to give a joyful experience to customers in all age groups, from a new-born baby to an adult on the wrong side of 60. Visitors can collect the memories of their own hands and feet or those of their loved ones through wax replicas, prints, etc.
Says Malhotra: “Cherishing Moments has been established with an idea that in today’s busy schedule, we forget to relish the moments of joy which we can capture by doing small things in life. This is the differentiation that we follow – enjoy and make people enjoy by making a wax hand, taking a baby print or making a body copy.”
According to her, setting up a Cherishing Moments kiosk needs an investment of Rs 8-10 lakh and the concept works on a quick- returns business model. It should take six to seven months to break even in this format. The average bill size the kiosk realises is about Rs 600. It is typically manned by two staff members. The company provides training to the team for each individual concept at the store. Recently, they had called an international trainer to teach staff about wax hands and body copy, says Malhotra. The company is currently not carrying out any promotional activities to popularise the concept other than social media sites such as Facebook.
The Cherishing Moments kiosk currently has the following offerings for customers belonging to different age groups:
Wax Hands: The target group (TG) for this category comprises kids (4 years and above) who enjoy the experience of making wax hands and adding a variety of colours to them. It is also meant for adults who would want to have a keepsake which they can cherish for years. This may be in the form of their own hands or gifting one’s wax hands to friends, family members, etc. The category is also popular with couples to signify the bond of relationship between them.
Baby Memory Prints: The TG for this are parents with toddlers who would love to capture beautiful memories of their kids.
Body Copy: The TG for this category comprises people of 17–35 years of age who would like to buy this product for their parents and elders. Customers in this age group want an imprint of the hand of their elders as a blessing for them which they can treasure for years to come. Parents also like this concept as they can make a 3D image of the hands of their children.
Candles: Customers who want to decorate their rooms with designer candles are the TG for this category.
The prices of the products at Cherishing Moments range from Rs 40 to Rs 2,500. Malhotra says all the items sell well at the kiosk but wax hands are currently the most popular with customers.
Though the concept is being appreciated by visitors, there are challenges too in terms of product awareness. Malhotra says: “Sometimes, we need to tell people that the wax objects available with us are not normal candles because when they see wax, all they can think of are candles. But once they look at the products carefully, they understand these are unique.”
Malhotra says the way the concept is structured currently, the kiosk format seems ideal for it. However, some months down the line, the company also intends to explore the possibility of opening up proper stores. “We are in process of launching a few more concepts. Probably we will be required to have stores in the near future. But as of now, we plan to expand through kiosks. Our location strategy includes a combination of malls and high street,” she adds.
Cherishing Moments is planning to add two more company-owned kiosks by the end of this fiscal. The rest of the expansion will take place through franchisees. It is planning to open three to four franchisee kiosks in the same time period and also intends to consider the shop-in-shop format later on.
The locations the company is targeting for establishing its presence includes Gujarat, Rajasthan, Delhi, and Mumbai, among others. It is also planning to add a few more interesting products in its portfolio shortly, such as creating one’s own, life-like face in wax. “There will be some more ideas for making a great keepsake for a lifetime for our customers,” says Malhotra.