Aditya Birla Group ventures into jewellery sector with launch of Novel Jewels 

Backed by a substantial investment of Rs. 5,000 crores, Novel Jewels aims to establish a prominent presence with large, exclusive jewellery stores featuring in-house brands across India 

Mumbai — Aditya Birla Group, led by billionaire Kumar Mangalam Birla, is poised to make an entry into India’s branded jewellery market with the launch of Novel Jewels on July 26. This move marks the conglomerate’s latest expansion into consumer-facing businesses, following its successful entry into the paint industry earlier this year with Birla Opus. 

The decision to venture into jewellery comes almost a year after the Group first announced its intention to diversify into this lucrative sector. Backed by a substantial investment of Rs. 5,000 crores, Novel Jewels aims to establish a prominent presence with large, exclusive jewellery stores featuring in-house brands across India. 

The branded jewellery market in India is currently dominated by established players such as Tata Group-owned Tanishq and Reliance Jewels, among others such as Kalyan Jewellers, Malabar Gold, Joyalukkas Jewellers, and Senco Gold. With the industry witnessing a gradual shift from local standalone stores to national branded chains, Aditya Birla Group sees a strategic opportunity to tap into a sector that contributes significantly to the nation’s GDP. 

India’s jewellery industry, which contributes 7% to the GDP, is poised for substantial growth, with projections estimating it to reach $100 billion by 2027. This growth trajectory underscores the potential for Novel Jewels to reshape consumer preferences and redefine the retail landscape in fashionable jewellery. 

Aditya Birla Group’s ambitious foray into jewellery underscores its commitment to expanding its footprint in high-potential consumer markets, leveraging its financial strength and expertise in building successful consumer brands. 

Retail Jeweller India News