On July 26, Aditya Birla Group announced the launch of Indriya, marking the Group’s foray into the rapidly expanding Indian Jewellery Market. This strategic move marks another significant milestone as the Group strengthens its consumer portfolio, leveraging its strong brand equity and deep market insights to dive into the rapidly expanding Rs.6.7 lakh crore Indian jewellery market.
Mr Kumar Mangalam Birla, Chairman, commented, “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.” He added, “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.”
Indriya will simultaneously open four stores in three cities – Delhi, Indore, and Jaipur. The plan is to expand to 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.
This ambitious venture is backed by an unprecedented investment of Rs 5,000 cr, underscoring the Aditya Birla Group’s commitment to revolutionising the jewellery retail landscape in India.
