National, 27 July 2024: The chairman of the Aditya Birla Group, Mr. Kumar Mangalam Birla, today announced the opening of the company’s retail jewelry division, which represents the group’s entry into the quickly growing Rs. 6.7 lakh crore Indian jewelry industry. Utilizing its deep market insights and strong brand equity, the Group is strengthening its consumer portfolio with this strategic decision, which represents another important milestone. Over the next five years, the jewelry company, which debuted under the brand Indriya, hopes to rank among India’s top three dealers of jewelry. With an unprecedented investment of Rs 5,000 Cr, the Aditya Birla Group is demonstrating its commitment to revolutionizing the jewelry retail scene in India with this ambitious undertaking.
Commenting on the launch, Mr. Kumar Mangalam Birla, Chairman, Aditya Birla Group, said, India’s consumer population is quickly maturing, making it potentially the world’s most promising consumer group. We have increased our wager on the Indian customer’s dynamism this year by introducing two significant new consumer brands: one for jewelry and the other for paintings. The continued value movement from informal to formal sectors, the growing consumer desire for strong, trustworthy brands.
Indriya plans to launch four stores in three cities at the same time: Jaipur, Indore, and Delhi. In less than six months, the goal is to reach more than ten cities.The expansive 7000 square foot plus stores will offer a wide variety of merchandise that covers events, making them 30%–35% larger than the typical size of national companies. The company will launch with a sizable collection of 15,000 carefully chosen jewelry items, with more than 5,000 unique designs.
Mr. Dilip Gaur, Director, Novel Jewels said, We are positioned to rewrite the rules in the jewelry industry in terms of innovation, size, technology, and customer experience thanks to Indriya. It is predicated on the knowledge that every jewelry item narrates a distinct tale of artistry.In the end, the unique product, outstanding customer service, and engaging purchasing process are what unlock the potential for self-expression through jewelry. Our product combines classic craftsmanship with modern designs.
Mr. Sandeep Kohli, CEO of Novel Jewels, said, “The category of jewellery is evolving from an investment to a statement piece. Perceived distinctiveness, unique designs, individualized service, and genuine regional peculiarities form the foundation of our offer.
