Indriya, the jewellery brand under the Aditya Birla Group, has opened its first store in Uttar Pradesh, located in Lucknow. The company also plans to expand further, with future stores planned for cities like Kanpur and Noida.
Sandeep Kohli, CEO of Indriya, emphasized that Uttar Pradesh plays a significant role in the jewellery market due to its large population and strong cultural affinity for wearing jewellery on various occasions. He stated that the brand has designed a wide range of jewellery to cater to different customer segments.
Kohli, who was in Lucknow for the grand opening of the store in Gomti Nagar, shared, “Uttar Pradesh is an important market for jewellery, not just because of its population but also due to the deep cultural connection people have with jewellery. The design preferences in this region are also unique.”
He added that Indriya plans to expand across all major cities in Uttar Pradesh soon.
With the recent store openings in Lucknow and Vijayawada, Indriya now operates in 10 cities across India, with a total of 21 stores. These include five in Delhi, three each in Mumbai and Hyderabad, and two each in Ahmedabad, Jaipur, and Pune. Other locations include one store each in Indore, Surat, and Vijayawada, Kohli noted. Indriya was launched in July 2024.
On the growth of the Indian jewellery market, Kohli explained, “The Indian jewellery market is enormous, and it is expected to reach a size between USD 80 billion and USD 100 billion.”
Regarding the impact of fluctuating gold and silver prices on consumer behavior, Kohli stated, “Gold prices have been unpredictable. However, jewellery remains an integral part of India’s culture. While some customers stick to their budgets, others may adjust or stretch their finances to buy the jewellery they desire.”
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