Diversified conglomerate Aditya Birla Group expects its consumer businesses to touch the $25 billion-mark in terms of revenues in the next five years. The consumer businesses are also expected to expand their contribution to 25 per cent to the group’s overall turnover. The company on Friday marked its strategic foray in the jewellery retail business under the brand Indriya. It will be investing about ₹5,000 crore in the jewellery business over the next few years.

The company’s consumer businesses currently contribute about 20 per cent to the group’s overall turnover.

Speaking at an event, Kumar Mangalam Birla, Chairman, Aditya Birla Group, said, “In the last three years, we have redoubled our bet on the dynamism of the Indian consumer. This year alone, we have launched two major new consumer brands – in paints and jewellery. The Indian consumer is fast evolving and rapidly coming of age. India perhaps has the most promising consumer cohort globally.“

“Around 20 per cent of our group’s revenue today comes from consumer businesses. And I believe this will increase to over 25 per cent over the next 5 years to reach about $25 billion of revenue from consumer businesses. This would be larger than most leading stand-alone consumer businesses in India. One of the key drivers for this will be of course thee successful ramp-up of our newest consumer businesses, paints and jewellery retail,” he added.

Birla said the group will be investing ₹5,000 crore over the next few years in the jewellery retail business and will ramp it up nationally. “We will be among the top 3 national jewellery retailers over the next 5 years, and will continue to grow at a 50 per cent CAGR,” he added.

The group will launch four stores across Delhi, Jaipur and Indore. It plans to ramp up the store footprint to over 10 cities, in the next 6 months.

The jewellery market size is currently pegged at ₹6.7-lakh crore and expected to grow to ₹11-13 lakh crore by 2030.

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