Aditya Birla Group Makes a Splash in Paints and Jewellery

Aditya Birla Group is set to diversify its portfolio in 2024, expanding into the realms of decorative paints and gold jewellery. Grasim Industries will spearhead the paints business, while the jewellery venture will be orchestrated through a newly established entity, Novel Jewels.

Novel Jewels aims to carve out a distinctive space in the market by investing 5,000 crore to establish a nationwide network of large-format stores, showcasing in-house jewellery brands. The vision is to cultivate a national jewellery brand infused with a robust regional identity. This strategic move marks the inception of two significant ventures in 2024, positioning the company to thrive on a growth platform characterized by a unique blend of strength and scope.

Reflecting on the achievements of the previous year, the Group witnessed numerous milestones, with an impressive 40 percent surge in overall market capitalization compared to the previous year, reaching approximately USD 90 billion. The manufacturing businesses solidified their leadership positions, while the consumer businesses stand on the cusp of transformative growth, painting a promising picture for the future.

News by Rahul Yelligetti