Aditya Birla Group has recently forayed into the rapidly expanding Rs.6.7 lakh crore Indian jewellery market with the launch of Indriya. The new brand aims to secure a position among India’s top three jewellery retailers over the next five years.
Backed by an investment of Rs 5,000 crore, the venture is said to revolutionise the jewellery retail landscape in India. The Group has already opened four stores: two in Delhi, one in Indore and one in Jaipur.
“Indriya is less about who we are and more about how we make her feel, she is the inspiration and her love for jewellery is what the brand celebrates everywhere, everyday, across every touch point. Crafted with love, each piece is a masterpiece reflecting the spirit of Indian craftsmanship with over 16000 exquisite designs,” the company said.
Commenting on 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.
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 homed in retail, design and brand management will serve as pillars for our success.”
Dilip Gaur, Director, Novel Jewels said, “Through Indriya, we are poised to redefine standards in creativity, scale, technology, and customer experience in the jewellery sector. It is built on the understanding that each piece of jewellery tells a unique story of craftsmanship. The distinctive product, exceptional customer experience and immersive buying journey are ultimately enablers to unlocking self-expression via jewellery. Our product fuses timeless craft but reimagines contemporary designs. Our regional selection celebrates unique backgrounds but opens them up for discovery across other cultures”.
Sandeep Kohli, CEO of Novel Jewels, said, ” Jewellery as a category is transitioning from mere investment to a statement. Our proposition is built on perceptible differentiation, distinctive designs, personalised service, and authentic regional nuances.”