The average value of purchases at Indriya stores exceeds that of other new entrants in the Indian jewellery market, the company’s chief executive officer Sandeep Kohli said.
Speaking with FE, Kohli stated that Indriya has received positive market response since its launch in July 2023, adding that the brand aims to reach 100 stores within the next 18 months.
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“What has delighted us is that people are trusting us, and our average bill size is higher than most new players that we are aware of,” Kohli said.
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Kohli attributed the higher purchase value to the company’s focus on designs.
“At the end of the day, the emotion comes from the design, and we want to be a very design-centric brand, and that’s what we are going to be,” he said.
Indriya maintains an in-house design team responsible for 80% of its jewellery designs, which are refreshed regularly. The brand also invests in larger showrooms and a bespoke staff training program to enhance the overall shopping experience.
After starting with four stores in July 2023, Indriya’s footprint is set to expand to 14 stores by the end of January 2025. The company opened its first bridal jewellery store in Delhi’s South Extension on Friday. Kohli said that bridal jewellery store is important as over 55-60% of India’s total jewellery market is wedding-related.
The Indian jewellery market, largely unorganised, is valued at ₹11 trillion and is expected to grow further in the next three to five years. Currently, the organised sector is dominated by major players like Titan (Tata Group), Joyalukkas, Kalyan Jewellers and Reliance Jewels.
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Indriya aims to become one of India’s top three jewellery brands. While the company primarily focuses on offline expansion,
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