With an investment of approximately Rs. 5000 crores, the Aditya Birla Group is venturing into the branded jewellery retail sector. This expansion will be carried out through a new entity called “Novel Jewels Ltd.” The company plans to establish large-scale exclusive jewellery retail stores throughout India, showcasing its in-house jewellery brands.
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By focusing on unique designs and incorporating a strong regional touch, the venture aims to revolutionize the customer experience and create a nationally recognized and aspirational jewellery brand. This move represents the Aditya Birla Group’s third significant expansion into new industries within the past two years, following their ventures into paints and B2B e-commerce for building materials.
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Mr. Kumar Mangalam Birla, Chairman, Aditya Birla Group said, “Aditya Birla Group’s foray into branded jewellery retail marks a pivotal moment in our storied legacy of building businesses underpinned on trust. This foray is a strategic portfolio choice that allows us to tap into new growth engines and expand our presence in the vibrant Indian consumer landscape.
With rising disposable income, discerning and aspirational consumers are leaning more towards design-led, bespoke, and high-quality jewellery. This venture will capitalise on Aditya Birla Group’s deep expertise in lifestyle retail and nuanced understanding of consumer preferences.”
The branded jewellery retail venture will be operated by a newly recruited leadership team with deep retail and category expertise
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The gems and jewellery market in India holds significant importance, contributing around 7% to the country’s GDP. With the market projected to reach approximately USD 90 billion by 2025, it is experiencing rapid growth.
As this sector undergoes a shift from being predominantly unorganised to becoming more organised, the Aditya Birla Group’s entry comes at an opportune time. The Group’s presence will enhance this dynamic landscape by providing Indian consumers with a wide range of carefully crafted and intricately designed jewellery options, catering to their diverse tastes and preferences.
