Aditya Birla Group’s jewellery brand Indriya plans to open 100 new stores in the next 18 months to increase its share in the organised jewellery retail market. The brand is also exploring the possibility of entering the lab-grown diamond segment if consumer interest persists.

Managing Director Sandeep Kohli noted that diamond jewellery accounts for only about 10 per cent of total purchases in India, but the company has seen a positive response to natural diamonds. He believes that lab-grown diamonds could attract new customers and highlight the brand’s agility in adapting to consumer preferences.

The organized jewellery market, currently valued at approximately Rs 6-7 trillion, represents a significant area of interest for Indriya. Established in July of the previous year with an investment of Rs 5,000 crore, the company currently operates 12 retail locations across various cities. By the end of the month, this number is projected to increase to 14. Furthermore, Indriya intends to implement a franchise model to facilitate its future growth and expansion efforts.

Kohli noted that Indriya is performing better than expected in all store benchmarks, including foot traffic and sales. After a busy festival season, the brand recently launched a new bridal collection and a store in South Extension, New Delhi.

Indriya aims to position itself among the leading players in the market, competing with established names such as Tanishq and Reliance Jewels, as well as Kalyan Jewels, Senco Gold, Joyalukkas and Malabar Gold.

Image Source: Business Standard