Aditya Birla Group enters jewellery market with ₹5,000 Crore brand Indriya

29 Jul 2024 , 11:18 AM

The Aditya Birla Group has announced its foray into the Indian jewellery market with the launch of a new brand named Indriya. This significant move, unveiled by Chairman Kumar Mangalam Birla on July 26 in New Delhi, marks the Group’s ambition to become one of the top three jewellery retailers in India within the next five years.

Backed by an investment of ₹5,000 Crore, Indriya represents a major diversification of the Group’s consumer offerings. Leveraging its extensive experience in retail, design, and brand management, the Group aims to capture a substantial share of the rapidly expanding ₹6.7 lakh Crore Indian jewellery market.

Chairman Kumar Mangalam Birla emphasized the dynamic nature of the Indian consumer market and the Group’s commitment to tapping into its vast potential. Highlighting the strategic importance of this venture, he noted that the Group has also launched a significant new brand in the paints sector this year.

The entry into the jewellery business is driven by the ongoing shift from informal to formal sectors, an increasing consumer preference for trusted brands, and the thriving wedding market, all of which present substantial growth opportunities.

Indriya will initially open four stores in Delhi, Indore, and Jaipur, with plans to expand to over ten cities within six months. These stores, each over 7,000 square feet, will be significantly larger than the average national brand stores and will offer a wide range of jewellery, starting with an assortment of 15,000 curated pieces, including over 5,000 exclusive designs. New collections will be introduced every 45 days to keep the offerings fresh and appealing.

The brand aims to set new benchmarks in creativity, scale, technology, and customer experience. Emphasizing the unique craftsmanship of each jewellery piece, Indriya will focus on offering distinctive designs, personalized service, and authentic regional nuances. The innovative Signature Experience will feature exclusive lounges and customization services provided by in-store stylists and expert jewellery consultants. This approach promises to elevate all five senses and create an unparalleled shopping journey, blending digital and physical touchpoints seamlessly.

The brand name ‘Indriya’ is derived from Sanskrit, symbolizing the five senses and reflecting India’s rich cultural heritage. The brand insignia, a Female Gazelle, embodies beauty, grace, and empowerment, aligning with Indriya’s commitment to creating jewellery that celebrates and empowers its wearers.

Through this launch, the Aditya Birla Group aims to revolutionize the jewellery retail landscape in India, catering to the growing consumer preference for branded jewellery and tapping into the expanding formal jewellery market. Indriya is poised to become a significant player in the Indian jewellery market, offering unique designs and an unmatched customer experience.

The Aditya Birla Group, headquartered in Mumbai, India, is a leading Indian multinational conglomerate. The group’s diverse business interests span metals, cement, fashion and retail, financial services, renewables, fibre, textiles, chemicals, real estate, trading, mining, and entertainment. With a presence in 36 nations, the Group generates a combined annual revenue of $75 billion, with over half of this revenue coming from its overseas operations.