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Feature Interview

The Gazelle’s Gambit

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In July this year, the Aditya Birla Group ventured into the branded jewellery retail sector with a Rs. 5,000 crore investment under its new brand, Indriya. In just a few months, Indriya has quickly made its mark across key cities. Sandeep Kohli, CEO of Indriya, explains how the brand’s aggressive “carpet bombing” expansion strategy, combined with cuttingedge technology and a digital-first approach, is revolutionising the way consumers experience jewellery shopping

Launched just a few months ago, Indriya has swiftly established itself in the Indian jewellery market through aggressive expansion and an innovative retail strategy. As of early October 2024, Indriya has opened eight stores—three in Delhi, and one each in Indore, Jaipur, Ahmedabad, Mumbai, and Pune—leveraging the Aditya Birla Group’s Rs. 5,000 crore investment. On the eve of its latest simultaneous store openings in Mumbai, Delhi, and Pune, The Retail Jeweller speaks with Sandeep Kohli, CEO of Indriya, to explore the brand’s rapid rise, customer-focused strategy, and future vision.

EDITED EXCERPTS:

POOJA MUJUMDAR (PM): How is Indriya positioning itself to stand out in the competitive jewellery market?

SANDEEP KOHLI (SK): We aim to create a new jewellery buying experience while bringing innovation to the industry. Being a company of scale born in the 2020s gives us a unique advantage—most of our competitors of similar scale were established in the 1980s or 1990s. This allows us to approach the market with a contemporary perspective, whether in design, consumer experience, or the evolving relationship between women and jewellery. We are positioning Indriya as a design-centric brand that offers jewellery for all occasions, across various price bands and is relevant to different regions of India.

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PM: What makes the buying experience at Indriya’s stores unique? Could you elaborate on your approach to customer experience?

SK: We conducted thorough consumer research before creating the “Indriya experience”. Our display ratio is among the largest in the industry, allowing customers to see and experience more of our collection. Additionally, our use of tailored technology at the stores signifi cantly enhances the customer’s buying experience. For instance, every jewellery consultant is equipped with a tablet to facilitate efficient browsing and streamlined billing. Customers can physically shortlist designs while the consultants simultaneously do the same on their tablets.

This feature improves the overall experience as buyers can refer back to and compare all designs (across various parameters) before making informed decisions. Moreover, we have introduced personal stylists at each store to advise customers, particularly brides, based on their specific needs. Every store also features a bridal lounge, where brides can try on their trousseau. Our localisation strategy ensures that consultants are trained to understand and cater to local preferences, which has already proven successful in markets like Indore, Delhi, Ahmedabad, and Jaipur, where our stores have been open for a few months.

PM: Product is the mainstay in retail. How are you delighting customers with your product offering?

SK: We are a brand that believes design is important regardless of the occasion it is worn for. And that is what we bring to the table—great designs for all occasions. Around 80 per cent of our jewellery is exclusive to Indriya, giving us a unique edge in the market. Our design philosophy is rooted in celebrating India’s regional designs and contemporising them for the modern consumer. We have designed more than 16,000 pieces of jewellery, with a significant number available in each store from the first day of opening. Our goal is to refresh our collections every two months, which is one of the fastest refresh rates in the industry. This rapid cycle ensures that customers always find something new, whether they visit for everyday wear or bridal collections.

PM: Do you offer customisation or co-creation services for customers?

SK: Currently, we offer a range of customisation options, though full co-creation is not something we have introduced yet. Our customers can speak to one of our stylists or jewellery consultants to modify various aspects of a design, such as adjusting the weight, changing the colour or type of stones, or altering the finish of the gold— from dark to red or shiny.

PM: How is Indriya leveraging technology to enhance the jewellery shopping experience, both in-store and behind the scenes?

SK: The key with technology is not just having the platforms, but how we use them. At Indriya, we have tailored software to our needs. The tablets used by our jewellery consultants (we do not call them sales staff) have specialised software built to complement how we understand consumer behaviour during the shopping experience. We are also using technology aggressively at the backend to ensure we offer fresher and newer designs, balancing aesthetics with pricing efficiency.

PM: Indriya is creating a ‘wow’ retail experience at the stores. Are you evaluating online channels for retailing?

SK: Yes, online sales are part of our long-term strategy. However, we recognise that when it comes to well-designed jewellery, only a small percentage of sales happen online. Jewellery purchases are emotional—people want to know the weight, inspect the diamonds, and feel the gold before making a decision. Our stores play a key role in this, offering a seamless transition from online discovery to in-store purchase. While we prioritise digital platforms for brand awareness and consumer engagement, we understand the importance of the tactile experience in jewellery shopping.

So, while we will invest in online channels, we will do so in a way that reflects this reality. That being said, we are a young and agile organisation. As long as a strategy delights our customers, aligns with the Aditya Birla Group’s principles, and meets Indriya’s brand standards, we are open to exploring new ways to serve our customers. The data gathered from our digital channels helps us understand trends and preferences in real-time, giving us a modern edge while respecting the emotional and traditional nature of buying jewellery.

PM: Indriya has a unique logo. Can you explain its significance and how it relates to your brand’s ideology?

SK: The gazelle in our logo reflects our design sensibility and the emotion behind our brand. A gazelle symbolises grace, beauty, and femininity— qualities we strive to embody in our jewellery. Additionally, the gazelle’s heightened senses align perfectly with our brand name, “Indriya”, which means ‘senses’ in Sanskrit. Like the gazelle, we aim to be attuned to the needs and preferences of our customers. Our logo represents our commitment to creating sensory-rich, beautiful jewellery that enhances personal expression.

PM: Indriya has been rapidly expanding across India. Can you tell us about your longterm market strategy and how it shapes your expansion plans?

SK: We aim to be among the top three players in the Indian jewellery industry. It necessitates a presence in major cities and within those, the bigger jewellery hubs. In just eight weeks, we have launched a total of eight stores—in Ahmedabad, Delhi, Indore, Jaipur, Mumbai, and Pune. Our focus is on rapid expansion, and we plan to open 20 to 25 stores within our first year. Our stores are deliberately large, like our first Mumbai store in Borivali, which spans 11,000 square feet across three floors. Our upcoming store in Ghatkopar, Mumbai, will be the biggest jewellery store in R City Mall. The size of our stores reflects our ambition to showcase a wide variety of offerings that will delight our customers.

PM: How are customers responding to the brand?

SK: The consumer response has been fantastic— just take a look at our Google reviews or Instagram pages. Being part of the Aditya Birla Group brings an inherent level of trust, and we have seen that translate into customers signing up for our schemes and exchanging gold with us. While we are thrilled by the positive feedback, it is important to remember that it is still early days. That said, it is always good to start strong.

PM: The Aditya Birla Group is a leading business conglomerate with demonstrated success. How is Indriya aligning itself with its working culture?

SK: We are leveraging the trust and credibility that comes with being part of the Aditya Birla Group, but we operate with the energy and innovation of a start-up. This hybrid approach allows us to remain nimble while delivering on the high standards expected of an Aditya Birla company. Each new store opening brings fresh insights into how we can improve. We are refining with every new store, not because the older stores are lacking, but because we are constantly learning.

This start-up mindset extends to our products too. We are quickly gathering data on customer preferences and using that information to refine future designs. This keeps us agile, responsive, and in tune with our customers’ wants. There is no pressure—just a sense of responsibility and excitement within the team. We are thrilled about what we have created and how we bring it to the market. The energy is palpable, and that is reflected in the feedback we are getting from customers.

SETTING A NEW STANDARD IN MUMBAI

Indriya’s first Mumbai store in Borivali features approximately 6,500 exquisite jewellery designs within an expansive 11,000-squarefoot space. Through this strategic entry into Borivali—one of Mumbai’s leading jewellery hubs—the brand aims to deliver a personalised shopping experience, seamlessly blending quality craftsmanship with innovative customer service.

A STRATEGIC MOVE INTO THE JEWELLERY HUB OF BORIVALI

With its first Mumbai store, Indriya has entered the competitive and thriving market of Borivali, often regarded as a ‘mini Zaveri Bazaar’ due to the concentration of established jewellery brands. While building a strong presence in this area will take time, the brand is focused on delivering exceptional service and leveraging competitive pricing to attract new customers. The store’s offerings are curated to reflect Borivali’s diverse demographic, which includes a significant Gujarati and Marwari clientele, as well as Marathi, Muslim, and other communities. This cultural richness is mirrored in pieces like traditional Marathi Tode bangles and intricately designed Rajasthani tourmaline jewellery.

REDEFINING DESIGN AND THE CUSTOMER EXPERIENCE

The store’s ground floor greets visitors with a striking statue of a female gazelle, symbolising feminine beauty and elegance, and representing Indriya’s insignia. This level showcases a curated selection of lightweight, everyday jewellery, with a clear distinction between diamond and gold pieces. The first floor is dedicated to natural diamond jewellery, including solitaires, offering a seamless flow from heavier pieces to lighter sets, and then back to more elaborate designs. “This layout is all about balance,” says Sandeep Kohli, CEO of Indriya. “We want the customer’s journey to feel natural and engaging, where they encounter something new and beautiful at every step.” The first floor also houses a karigar room, where skilled artisans repair and polish jewellery. It is equipped with advanced machinery, including karat meters, diamond testers, and gold-melting machines that reach up to 1,000 degrees Celsius.

A BRIDAL LOUNGE FOR EVERY BRIDE-TO- BE

One of the most luxurious aspects of Indriya’s new store is its bridal lounge, located in the basement. Designed to offer personalised, high-end service to brides to- be and their families, the lounge’s seating area is styled like a wedding mandap, adding a symbolic touch to the bridal shopping experience. The lounge also features two private wedding rooms where brides-to-be can try on the brand’s jewellery with their wedding outside. These rooms offer privacy, with curtains that can be drawn around the changing area, and ample seating for accompanying family members. “Bridal jewellery is an emotional and significant investment,” Kohli notes. “We wanted to create an environment where the shopping experience is as meaningful as the occasion itself.”

The lounge also showcases ‘Swarna Varya’, a unique display that takes customers through the intricate journey of jewellery-making, highlighting key stages such as sketching, designing, soldering, nakashi work, stone preparation, and inlay work. No other jeweller in Borivali offers such a behind-the-scenes glimpse into the craftsmanship and artistry involved in creating fine jewellery.

A CURATED COLLECTION TO SUIT EVERY TASTE

Indriya boasts an extensive collection of more than 16,000 designs across its stores, with about 6,500 pieces on display at the Borivali outlet alone. This variety ensures options for every preference and occasion, from everyday jewellery to once-in-a-lifetime bridal pieces. The store’s Kundan jewellery range stands out for its ceramic-based enamel work, offering a lightweight yet durable alternative to traditional pieces. Turkish inspired earrings, crafted from 22k gold and weighing as little as 9 grams, provide elegant yet affordable options. The solitaire jewellery collection includes timeless rings, elegant string necklaces, and statement pieces, while the Mangalsutra range incorporates solitaire diamonds into classic designs. For cocktail rings, both cluster diamonds and solitaire-style options are available to suit a variety of tastes.

The men’s collection, although representing only 6 to 7 per cent of the designs, offers distinctive pieces such as snake-pattern bracelets and bi-metal rings. The chain selection ranges from delicate, thread-like designs to rhodium-plated and rose-gold chains with a high-shine mirror finish. Among Indriya’s signature collections is the ‘Garden of Emotions’, which blends gemstones, pearls, and gold to evoke a range of feelings, and ‘Lush Gold’, a collection featuring intricate 3D work and precious stones, inspired by the concept of enduring love. With jewellery catering to a range of price points—from gold pendants starting at Rs. 6,000 to luxurious Polki pieces and high-end bridal jewellery—the store appeals to a broad spectrum of customers. Indriya also offers a 100 per cent exchange value on old gold and up to 25 per cent discount on gold jewellery making charges or diamond jewellery value, making it attractive to budget-conscious shoppers.

INNOVATION MEETS EXCELLENCE IN CUSTOMER SERVICE

Indriya integrates technology to enhance the shopping experience. The store’s jewellery consultants use tablets to access real-time product information and pricing, streamlining decision-making and reducing billing time. The brand places a strong emphasis on staff training, with new hires undergoing at least a month of training before transitioning to on-the-job experience. Approximately 90 per cent of the store’s staff comes from a jewellery background, bringing valuable expertise from leading brands.

EXPANDING HORIZONS: INDRIYA’S FUTURE IN MUMBAI

Indriya’s Borivali store marks the beginning of its ambitious expansion plans in Mumbai. The brand’s next outlet is set to open in Ghatkopar’s R City Mall, strategically positioning itself to serve a broader customer base along the city’s central line.

Written by Pooja Mujumdar

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