Aditya Birla Group makes inroads into branded jewellery retail biz; invests Rs 5,000 cr

Aditya Birla Group will make inroads into the branded jewellery retail business with an investment of around Rs 5,000 crore. With this investment, Aditya Birla Group plans to set up large format exclusive retail stores across India. Prior to this, the Group invested in businesses such as paints and B2B e-commerce for building materials.  

The business will be housed in a new venture known as 'Novel Jewels'. The venture is aimed at transforming the customer experience through unique design-led, bespoke and high-quality jewellery and a strong regional touch, the company statement read.  

The branded jewellery retail venture will be operated by a newly recruited leadership team with retail and category experience. Aditya Birla Group Chairman Kumar Mangalam Birla said: "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."  

He added: "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".  

In this segment, the Aditya Birla group will compete with Tata Group’s Tanishq and Reliance Jewels. The jewellery market in India is projected to grow to around $90 billion by 2025, as per the data shared by the company. India’s gems and jewellery market contributes roughly 7 per cent to the country’s GDP.  

Besides making inroads in branded jewellery, paints, and B2B e-commerce, the Aditya Birla Group also has a strong presence in sectors like metals, pulp and fibre, cement, chemicals, textiles, carbon black, financial services, fashion retail, renewable energy and trading, among others.  

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