Aditya Birla Group Targets $25 Billion In Revenue From Consumer Businesses By 2028

Aditya Birla Group, led by billionaire Kumar Mangalam Birla, aims to generate $25 billion in revenue from its consumer businesses over the next five years. This ambitious target is expected to be fuelled by the aggressive ramp-up of the conglomerate's latest ventures in paints and jewellery.

"Around 20% of our group's revenue today comes from consumer businesses," said Kumar Mangalam Birla, chairman, Aditya Birla Group. "I believe this will increase to over 25% over the next five years to reach about $25 billion of revenue from consumer businesses. This would be larger than most leading standalone consumer businesses in India."

On Friday, the group announced its entry into India's branded gems and jewellery market, which is currently valued at Rs 6.7 lakh crore. The jewellery business will be housed under Novel Jewels, with the brand name 'Indriya'.

Birla stated that the group's foray into the jewellery business is "a natural extension," having spent 20 years in the fashion retail and lifestyle industry.

The Indriya stores—each measuring 7,000 square feet—are 30–35% larger than the average size of national brands. Initially, the brand plans to showcase an impressive assortment of 15,000 curated jewellery pieces, including more than 5,000 exclusive designs. Further, the company intends to introduce new designs to stores every 45 days, Birla said.

"India's jewellery market is poised for tremendous growth, driven by the fact that wedding jewellery constitutes 55% of the overall market," Birla said. It is aiming to rank among the top three national jewellery retailers over the next five years while maintaining a compound annual growth rate of 50%.

The gems and jewellery market, poised to grow to Rs 11–13 lakh crore by 2030, has historically been largely unorganised. In fact, more than 60% of the industry is still unorganised. "There are only a handful of national players and even within that, the largest national brand commands only 6–7% of market share," Birla said. He believes that the wedding market in India, estimated at $130 billion, combined with over 50% of the population being under 25, presents significant growth opportunities for the company.

Sandeep Kohli, chief executive officer, Novel Jewels, told NDTV Profit that the company plans to open 25 'Indriya' stores over the next 12 months.

Earlier this year, Aditya Birla disclosed its plans to position itself as a major contender in India's Rs 80,000-crore decorative paints market, setting a bold target of achieving Rs 10,000 crore in revenue within three years of operations.

Aditya Birla Group's flagship company, Grasim Industries Ltd., has already spent Rs 5,000 crore and has committed to spending another Rs 7,000 crore by the end of fiscal 2025. The paints brand—Birla Opus—competes with Asian Paints Ltd., which dominates half of India's paint market, boasting a consolidated revenue of Rs 35,495 crore for the year ended March 2024.