Aditya Birla Group's Indriya Sees Stronger Growth in Smaller Towns Due to Formalisation
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Indriya's Growth Soars in Smaller Towns, Outpacing Metros Amid Formalization Push
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Moneycontrol•27-02-2026, 07:01
Indriya's Growth Soars in Smaller Towns, Outpacing Metros Amid Formalization Push
•Aditya Birla Group's Indriya sees higher growth in Tier-2 and Tier-3 cities due to accelerating industry formalization.
•The jewellery venture achieved 50 stores in 18 months, leveraging a design-first approach for diverse Indian markets.
•Growth in smaller towns is attributed to a larger gap in organized retail, with Indriya expanding to over 30 cities including Haldwani and Gaya.
•The Indian jewellery sector is transforming, with organized players now controlling 36-38% of the market, up from 22% in FY19.
•Indriya, launched in July 2024 with a Rs 5000 crore investment, aims to be a top-three retailer within five years, targeting Gen Z with a focus on jewellery as a 'beauty product'.
