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Aditya Birla Group enters jewellery business
The Morning Standard
|July 27, 2024
ADITYA Birla Group Chairman Kumar Mangalam Birla, on Friday announced the launch of the Group's jewellery retail business, marking the Group's foray into ₹.6.7 lakh crore Indian jewellery market.
The business, launched under the brand Indriya, aims to secure a position among India's top three jewellery retailers over the next five years. This ambitious venture is backed by an investment of 5,000 crore.
Birla will now be competing in a market that has a strong presence of other conglomerates such as Tata Group-owned Tanishq and Reliance Jewels. The other big players in the organized market are Kalyan Jewellers, Malabar Gold, Joyalukkas Jewellers and Senco Gold.
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