CURRENT AFFAIRS
CURRENT AFFAIRS
Description
Aditya Birla Group Chairman, Mr. Kumar Mangalam Birla, announced on July 30, the start of the Group's jewellery retail business, marking the Group's entry into the fast increasing Rs.6.7 lakh crore Indian jewellery industry. This strategic initiative is another key step toward strengthening the Group's consumer portfolio by leveraging its strong brand equity and deep market expertise.
About Indriya
The brand name 'Indriya' is derived from Sanskrit and is strongly steeped in India's rich cultural past. Indriya is a tribute to the five senses. The name symbolizes the brand's idea of producing jewelry that wakes and delights all five senses, hence defining one's being and consciousness. Indriya's brand logo, a Female Gazelle, is a powerful metaphor for the senses and represents the beauty and grace of a lady. This symbol signifies the brand's dedication to making jewelry that not only adorns but also empowers and honors the wearer.
Aims Of Brand Indriya
The jewellery business, as launched under the brand Indriya, wants to become one of India's top three jewellery retailers within the next five years. This ambitious undertaking is backed by an unprecedented investment of Rs 5,000 crore, demonstrating the Aditya Birla Group's commitment to revolutionising India's jewellery retail scene.
Four Locations In Three Cities
Indriya will open four stores in three cities: Delhi, Indore, and Jaipur. The objective is to grow to ten or more cities within six months. Large stores of 7000 square feet or more—30%-35% larger than the typical size of national brands—will carry a diverse variety that crosses events. The brand will launch with a vast initial range of 15000 handpicked jewellery pieces, including over 5,000 exclusive designs. New collections will be released every 45 days, the quickest mind-to-market cycle in the Indian fine jewels market.
Timeless Craft
Our product incorporates timeless craftsmanship while reimagining contemporary designs. Our regional collection recognizes diverse backgrounds while opening them up for discovery across cultures. Mr. Sandeep Kohli, CEO of Novel Jewels, stated, "Jewellery as a category is transitioning from mere investment to a statement." Our value proposition is based on observable differentiation, distinctive designs, customized service, and true regional accents.
Jewelry Consultants
At the center of Indriya's offering is the revolutionary Signature Experience, which includes premium lounges. Customization services with in-store stylists and skilled jewellery advisors promise to delight all five senses and offer an unforgettable shopping experience. Our best-in-class digital front end will deliver a seamless experience across all digital and physical touchpoints, ushering in a new era in jewellery retail."
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