Novel Jewels announces Rs 5,000 crore expansion plan to launch 100 new stores in India

Novel Jewels announces Rs 5,000 crore expansion plan to launch 100 new stores in IndiaThe brand aims to open 25 stores across India within the next 18 months, using a franchise model and leveraging strong demand for branded jewellery in both metro and Tier II cities

New Delhi: Novel Jewels, the jewellery division of the Aditya Birla Group, has announced plans to open 100 new stores across India within the next 18 months, with a total investment of Rs 5,000 crore. The expansion strategy will combine both owned and franchisee-operated outlets to accelerate its reach.

Since its launch in late July, Novel Jewels has followed an ambitious growth trajectory, opening new stores frequently. The brand currently operates 10 stores in key cities including Delhi, Mumbai, Pune, Ahmedabad, Jaipur and Indore. The new stores are expected to strengthen its presence in both metro and Tier II cities.

A significant part of the expansion will involve the franchise model, which is aimed at fast-tracking the brand’s entry into new markets and geographies. In addition, Novel Jewels has set up a state-of-the-art manufacturing facility in Mumbai to ensure a steady supply of its jewellery products.

The company’s growth strategy comes at a time when the organized jewellery market is gaining ground, as consumers increasingly move away from the unorganized sector in favour of trusted, branded players. Currently, organized jewellers make up nearly 40% of the total jewellery market, a share that Novel Jewels aims to expand as it taps into growing demand across the country.

The expansion is expected to create significant employment opportunities and drive further consolidation in India’s evolving jewellery retail sector.

With regard to the immediate expansion strategy of Indriya, a subsidary of Novel Jewels, Brand Director, Dilip Gaur, told The Retail Jeweller India, “As a national brand, we aim to expand across India by prioritising high-growth markets with strong spending power. Real estate is crucial in this strategy; we only enter markets where we find ideal locations, as the right real estate can significantly impact our success. Currently, our focus is on the northern and western regions, with plans to expand to the east and south. From May to August 2025, we will move into Tier II and Tier III cities, where we see growing demand.” Indriya plans to expand its retail footprint to a total of 25 stores by the year-end.

Retail Jeweller India News