India’s gems and jewellery market contributes about 7% to the GDP. Credit: AMISH THAKKAR on Unsplash.

India-based conglomerate Aditya Birla Group has spent Rs50bn ($605.2m) in the branded jewellery retail business, marking its entry into the industry.

The company will set up a branded jewellery company, Novel Jewels, to develop large-format exclusive jewellery retail stores across India with in-house jewellery brands.

Go deeper with GlobalData

Data Insights

The gold standard of business intelligence.

Find out more

Related Company Profiles

View all

In a statement, Aditya Birla Group said that it aims to create a national brand with unique designs and a strong regional taste through this venture. It also plans to hire an experienced team to run the new venture.

Novel Jewels is the third new investment by the company in the past two years, after investing in paints and B2B e-commerce for building materials.

Aditya Birla Group chairman Kumar Mangalam Birla said: “Aditya Birla Group’s foray into branded jewellery retail marks a pivotal moment in our storied legacy of building businesses underpinned on trust.

“This foray is a strategic portfolio choice that allows us to tap into new growth engines and expand our presence in the vibrant Indian consumer landscape. With rising disposable income, discerning and aspirational consumers are leaning more towards design-led, bespoke and high-quality jewellery.

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.

“This venture will capitalise on Aditya Birla Group’s deep expertise in lifestyle retail and nuanced understanding of consumer preferences.”

In India, the contribution of the gems and jewellery market to the gross domestic product (GDP) is nearly 7%. The market is expected to reach $90bn by 2025.

In December 2022, Aditya Birla Fashion and Retail Limited (ABFRL) reportedly led the race to buy a significant stake in TCNS Clothing.