The Aditya Birla Group has ventured into Indian jewellery market with the launch of its in-house brand Indriya. The Group plans to inject Rs 5000 crore into the brand to ensure it secures a position among India’s top three jewellery retailers over the next 5 years. The Indian jewellery market is a the rapidly expanding segment at Rs 6.7 lakh crore.
The launch of Indriya (under the company Novel Jewels) directly pits Aditya Birla Group against the Tata Group’s Tanishq and the Reliance Group’s Reliance Jewels, and other national chains such as Kalyan Jewellers and Joyalukkas.
Novel Jewels will be led by Dilip Gaur as the Director and Sandeep Kohli as the CEO of the company.
Speaking at the launch, Kumar Mangalam Birla, Chairman, Aditya Birla Group, said, “The Indian consumer is rapidly coming of age and India is perhaps the most promising consumer cohort globally. This year, we have redoubled our bet on the dynamism of the Indian consumer, by launching two major new consumer brands – in paints and jewellery. Entering the jewellery business is compelling due to the ongoing value migration from informal to formal sectors, the rising consumer preference for strong, trusted brands, and the ever-booming wedding market, all of which present substantial growth opportunities.”
“This foray is a natural extension for the Group, which has been in the fashion retail and lifestyle industry for over 20 years. The robust competencies that we have honed in retail, design and brand management will serve as pillars for our success,” he added.
The group will simultaneously open four Indriya stores in Delhi, Indore, and Jaipur. The plan is to expand to more than 10 cities within six months. The large 7,000 sq ft plus stores— 30%-35% larger than the average size of national brands’— will carry an extensive range that spans occasions.
The brand will offer a large initial assortment of 15,000 curated jewellery pieces with over 5,000 exclusive designs. New collections will be introduced every 45 days—the fastest mind-to-market cycle in the Indian fine jewellery market.
ABOUT ADITYA BIRLA GROUP
Aditya Birla Group’s diverse business portfolio encompasses sectors such as metals, cement, fashion and retail, financial services, renewables, fibre, textiles, chemicals, real estate, trading, mining, and entertainment. Key companies within the group include UltraTech Cement, Hindalco, Novelis, Grasim, Aditya Birla Capital, Aditya Birla Fashion and Retail (ABFRL), and Vodafone Idea.
On the retail side, it operates ABFRL which has international fashion and lifestyle brands such as Ralph Lauren, Hackett London, Simon Carter, Ted Baker, Fred Perry, Forever 21, American Eagle, and Galeries Lafayette. The company has a network of over 3,977 stores across approximately 33,535 multi-brand outlets with 6,723 points of sales in department stores across India as of March 2023.
