- LATEST
- WEBSTORY
- TRENDING
BUSINESS
Mukesh Ambani, Ratan Tata to face tough competition from Kumar Mangalam Birla, know Birla's Rs 5000 crore plan...
Aditya Birla Group, one of India's leading business conglomerates, has planned an investment of Rs 5,000 crore for this venture, under the name Novel Jewels.
Updated : Jul 29, 2024, 07:18 AM IST
 "Tata Birla Ambani")
TRENDING NOW
)
Redditors say Aishwarya Rai, Abhishek Bachchan's separation is 'confirmed' after she is absent from Amitabh Bachchan's..
)
Sudhanshu Pandey makes big statement on Anupamaa co-actor Rupali Ganguly's stepdaughter allegations: 'It's not good...'
)
Shweta Tiwari's wedding photos with Bigg Boss 13 contestant Vishal Aditya Singh go viral, here's the truth behind them
)
This Pakistani Influencer's private video leaked online, days after Minahil Malik and Insha Rehman's clips
)
Meet richest footballer of 2024, not Cristiano Ronaldo, Lionel Messi, his net worth is...
)
Gautam Adani's BIG Rs 16877 crore plan to take on Mukesh Ambani, set to build Mumbai's largest...
)
'Good to be back': After breaking up with Malaika Arora, Arjun Kapoor reunites with his 'partner-in-crime after ages'
)
Amid divorce rumours with Aishwarya Rai, Abhishek Bachchan tells Amitabh Bachchan: 'I hope people don't...'
)
'Kash ye Aishwarya ke liye...': Amitabh Bachchan shares early review of 'pride' Abhishek Bachchan's film, netizens react
)
Virat Kohli's tweet mistaken for 'divorce announcement' from Anushka Sharma, fans compare to AR Rahman's separation post
)
Samantha Ruth Prabhu shares inspirational poem ahead of Naga Chaitanya, Sobhita Dhulipala wedding: 'Force your heart...'
)
Model's bold dance in towel at India Gate raises eyebrows, netizens say arrest her, watch viral video
)
AR Rahman, Saira Banu to separate 29 years after marriage due to 'significant emotional strain': 'Couple has found...'
)
Meet Madhuri, Karisma's rival who rejected Shah Rukh Khan films; became star after giving 8 superhits in a year, now...
)
Meet Imsha Rehman, Pakistani TikTok star who deactivated her accounts after video leak and Minahil Malik's MMS
The jewellery retail market, being dominated by the Ambanis and the Tatas, is set to witness intense competition with the Aditya Birla Group now entering the segment.
Aditya Birla Group, one of India's leading business conglomerates, has planned an investment of Rs 5,000 crore for this venture, under the name Novel Jewels.
Led by Kumar Mangalam Birla, the Aditya Birla Group -- known for its diverse business portfolio ranging from telecom to apparel -- launched its new retail jewelry brand, Indriya, on Friday.
The group's major companies include UltraTech, the largest cement company in India, and Vodafone Idea (Vi), a leading telecom operator. The group also has a strong presence in financial services and fashion.
The Aditya Birla Group has entered the branded jewelry retail business at a time when branded jewellery is becoming more attractive compared to unbranded jewellery. A significant portion of customers now prefer buying branded jewellery over traditional jeweler shops. Brands such as Tata's Tanishq, Reliance Jewels, Kalyan Jewellers, Joyalukkas, and Malabar are already present in this market segment.
The jewellery market in India is estimated to be worth around Rs 6.7 lakh crore. During the launch of the jewelry brand Indriya, Kumar Mangalam Birla stated that the goal is to make this brand one of the top three jewellry brands in the country within the next five years. Kumar Mangalam Birla is currently the Chairman of the Aditya Birla Group. Around 20% of the group's revenue comes from consumer businesses. Birla expects this figure to exceed 25% and reach close to $25 billion in the next five years.
