Aditya Birla plans to launch operations for jewellery brand Novel Jewels in July | Maqvi News

Fashion and textiles business Aditya Birla Group will launch operations for its upcoming branded jewellery venture Novel Jewels this July. The business aims to tap into the rising consumer demand for high quality jewellery and open large-scale stores across India. 

Novel Jewels will launch as a chain of jewellery retail stores which house a range of different in-house brands, ET Now reported. In June 2023, Aditya Birla Group had announced that it will invest approximately Rs 5,000 crore to launch a retail jewellery business. 
 
“Aditya Birla Group’s foray into branded jewellery retail marks a pivotal moment in our stories legacy of building businesses underpinned on trust,” said Aditya Birla Group’s chairman Kumar Mangalam Birla in a statement, ET Online reported. “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. This venture will capitalise on Aditya Birla Group’s deep expertise in lifestyle retail and nuanced understanding of consumer preferences.”

The brand will be positioned as an aspirational label and will base its aesthetics off traditional Indian designs. The business will also include regional styles and designs in its portfolio.