Aditya Birla Group Launches Indriya to Compete with Tanishq and Reliance Jewels

New Delhi

Aditya Birla Group has introduced Indriya, a new jewellery retail brand, directly competing with established players like Tata Group’s Tanishq and Reliance Group’s Reliance Jewels, along with other national chains like Kalyan Jewellers and Joyalukkas. Indriya aims to rank among the top three jewellery brands in India within the next five years, according to group chairman Kumar Mangalam Birla.

Strategic Investment and Market Timing

Aditya Birla Group has committed ?5,000 crore to develop this new venture, Novel Jewels, which will house the Indriya brand. The launch coincides with the festive and wedding seasons, tapping into a market estimated at ?6.7 lakh crore.

Consumer Trends and Market Shifts

Birla emphasized the shift from unbranded to branded jewellery, driven by celebrity influence, high-profile weddings, and social media. He noted the rising preference for trusted brands and the booming wedding market as significant growth opportunities.

Expansion Plans

Indriya will open four stores in Delhi, Indore, and Jaipur initially, with plans to expand to more than 10 cities within six months. The group foray into jewellery retail aligns with its longstanding presence in fashion retail and lifestyle.

Market Opportunities

The Indian jewellery market, valued at nearly $60 billion in FY24, is largely unorganized, with 65% of the market still informal. The recent reduction in customs duty on gold, silver, and platinum further enhances growth prospects.

Conclusion:

Aditya Birla Group's strategic entry into the luxury jewellery market with Indriya highlights its commitment to capturing significant market share through substantial investment and timely market positioning. The emphasis on branded jewellery reflects evolving consumer preferences, promising robust growth and competitive advantage.