Aditya Birla's Indriya Eyes Top 3 Spot in Jewellery Market as It Crosses 50 Stores Milestone

Indriya, operating under Novel Jewels Ltd part of Aditya Birla Group, has reportedly announced the opening of its 50th store in Bengaluru and outlined its ambition to join the top 3 retailers in India’s jewellery market.  

Indriya Reaches 50 Store Milestone 

The brand opened its 50th outlet in Koramangala, Bengaluru, marking rapid expansion since its launch in July 2024. The new store brings the total count to 50, a figure that the CEO says places the firm on a clear trajectory toward the top three ranking within 5 to 8 years. 

Growth Strategy and Design Focus 

Indriya’s growth plan hinges on heavy investment funded by an initial ₹5,000 crore capitalisation. Reports suggest that around 50 to 60% of products are designed by an in‑house team, compared with roughly 10% design contribution at many rivals. Regional collections can differ by as much as 30% from state to state, supporting a localisation strategy. 

Read More: Gold Loan Sector Grows 42% As High Gold Prices and Rising Demand Fuel Expansion! 

Market Position and Financial Snapshot 

In FY25 the company reported revenue of ₹710 crore and a net loss of ₹332 crore. Competitors such as Tanishq operate over 500 stores, while Reliance Jewels and Kalyan Jewellers also compete for market share. Indriya’s management stresses disciplined spending to build brand awareness while keeping the cost base tight. 

Response To Gold Price Surge 

With 24 karat gold trading at ₹16,205 per gram, a rise of over 70% year‑on‑year, Indriya introduced lower carat options, including 9 karat pieces that contain 37.5% pure gold. The brand notes that less than 10% of jewellery purchases occur online, so it will launch e‑commerce later rather than making it a core focus. 

Conclusion 

Indriya’s expansion to 50 stores, emphasis on in‑house design and regional product variation, and recent move into lower‑carat offerings align with its goal of entering the top 3 jewellery retailers in India over the coming years. 

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