Aditya Birla Group’s Rs 5,000 Cr Venture Into Jewellery Retail Business
With an investment of Rs 5,000 crore, the Aditya Birla Group ventures into its third new major business following its expansion into paints and B2B e-commerce. As per sources, “Aditya Birla Group’s foray into branded jewellery retail marks a pivotal moment in our storied legacy of building businesses underpinned on trust. 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”, said Kumar Mangalam Birla, Chairman, Aditya Birla Group.
The gems and jewellery market observes India’s contribution to be approximately 7 per cent to the gross domestic product (GDP) and is projected to grow by 2025 to approximately USD 90 billion.
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