Jewellery News India
Aditya Birla Group’s jewellery business, Novel Jewels Ltd, will begin operations in July with an funding of Rs. 5000 crore. The company aims to determine large-format exclusive jewelry retail shops across India, creating an aspirational nationwide brand with unique designs and a robust regional flavour. Interestingly, most of the retailers who believe there is still room for extra gold jewelry stores are in high-tier cities where competitors is fierce. This is likely pushed by retailers’ optimistic expectations of economic progress in high-tier cities in addition to the fierce competitors itself, which continually weeds out poorly performing outlets and leaves alternatives …
