Aditya Birla's Indriya Sees Faster Growth in Smaller Towns Amid Jewellery Sector Formalization

Indriya, the Aditya Birla Group's jewellery venture launched in July 2024, has rapidly expanded to 50 stores across over 30 cities within 18 months, focusing on Tier-2 and Tier-3 towns like Haldwani and Gaya. CEO Sandeep Kohli highlighted that formalization in smaller cities is accelerating faster than in metros due to a larger gap in organized retail. The Indian jewellery sector's formal market share has grown to 36-38% from 22% in FY19, reflecting broader industry transformation.