Aditya Birla Group Enters Branded Jewellery Retail Market with ₹5,000 Cr Investment
New Delhi: Aditya Birla Group, a prominent Indian conglomerate, is venturing into the branded jewellery retail business with a significant investment of ₹5,000 crore. This move puts them in direct competition with established players like Titan Company and Kalyan Jewellers.
In an official statement released on Tuesday, the group announced its new venture called “Novel Jewels Ltd.” The company plans to establish large-format exclusive jewellery retail stores across India, featuring in-house jewellery brands.
This marks Aditya Birla Group’s third major entry into a new business sector within the past two years. They previously expanded into paints and B2B e-commerce for building materials. Additionally, the group already operates a successful fashion retail business under Aditya Birla Fashion and Retail Ltd., offering clothing, accessories, and footwear for men and women.
Chairman Kumar Mangalam Birla expressed his excitement about this strategic move, stating, “Aditya Birla Group’s foray into branded jewellery retail is a significant milestone in our legacy of building trusted businesses. This expansion allows us to tap into new growth opportunities and strengthen our presence in India’s dynamic consumer landscape. With the increasing disposable income and evolving consumer preferences, there is a growing demand for design-led, high-quality jewellery. Leveraging our expertise in lifestyle retail and deep understanding of consumer preferences, this venture will cater to these discerning and aspirational customers.”
A dedicated leadership team has been recruited to oversee the operations of the branded jewellery retail venture, according to the group’s statement.
India’s gems and jewellery market currently contributes around 7% to the country’s GDP. It is projected to reach $90 billion by 2025. India is also one of the largest global markets for gold jewellery, making it an attractive investment opportunity.
The group recognizes the ongoing shift from an unorganized to an organized sector in the jewellery market, which is growing rapidly. Aditya Birla Group’s timely entry is poised to enhance this dynamic landscape by offering Indian consumers a diverse range of meticulously crafted and intricately designed jewellery.
Aditya Birla Group has a significant presence in various sectors, including metals, pulp and fibre, cement, chemicals, textiles, carbon black, financial services, fashion retail, renewable energy, and trading, among others.
About Aditya Birla Group:
ABCL is a financial solutions group that offers a wide range of services to meet the diverse needs of its customers throughout their lives. With over 33,500 employees, ABCL’s subsidiaries have a presence across the nation, operating through 1,094 branches and a vast network of over 200,000 agents, channel partners, and bank partners.
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