New Delhi: Aditya Birla Group, a leading conglomerate, has made a significant foray into the highly competitive Indian jewellery market with the launch of its new brand, Indriya. The group aims to capture a substantial share of the Rs 6.7 lakh crore market and has earmarked a substantial investment of Rs 5,000 crore to build a robust retail network.
Indriya, which translates to ‘senses’ in Sanskrit, aims to cater to the evolving preferences of modern Indian consumers. The brand plans to offer a diverse range of over 15,000 curated jewellery pieces, including more than 5,000 exclusive designs. To establish a strong foothold, Indriya will simultaneously open four stores across Delhi, Indore, and Jaipur, with an aggressive expansion plan to cover more than 10 cities within the next six months.
ALSO READ: Sociapa to Steer Madhusudan’s Digital Journey
Kumar Mangalam Birla, Chairman of Aditya Birla Group, expressed optimism about the Indian consumer market, highlighting its growth potential and preference for strong brands. He emphasized that the group’s foray into the jewellery segment is a strategic move to capitalize on the ongoing value migration from informal to formal sectors and the booming wedding market.
With Indriya, Aditya Birla Group will compete directly with established players like Tata Group’s Tanishq and Reliance Jewels. The group’s vision is to secure a position among the top three jewellery retailers in India within the next five years.
The launch of Indriya marks a significant milestone for Aditya Birla Group, which has a strong presence in the fashion retail and lifestyle industry. The group’s entry into the jewellery market is expected to further strengthen its consumer portfolio and leverage its extensive market expertise.
