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New Delhi:
Aditya Birla Group is venturing into the retail business of branded jewelery with an investment of Rs 5,000 crore. The group gave this information on Tuesday. The new venture ‘Novel Jewels’ will open large format jewelery retail outlets across the country with its own jewelery brand, Aditya Birla Group said in a statement.
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Kumar Mangalam Birla, Chairman, Aditya Birla Group said, “This launch is a strategic portfolio option, allowing it to grow in new growth areas and expand presence in the vibrant Indian consumer landscape.”
The group will also compete with big companies like Tata Group. Tata is also in the retail jewelery market under the brand name Tanishq.
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