Valery Budny: There is no strategy and legislation in Russia enabling the full cycle processing of precious raw materials within the country

Valery Budny, Head of the Jewelry Russia program and CEO of the JUNWEX media holding, told Rough&Polished about the results of the meeting and pressing issues in the precious metals and precious stones (PMPS) and the jewelry sectors.

11 april 2024

Paul Zimnisky: Natural diamonds face the risk of eroding their appeal if constantly discounted

New York-based independent diamond and jewellery analyst and consultant Paul Zimnisky told Rough & Polished’s Mathew Nyaungwa in an exclusive interview that the industry should do away with discounts. He said the industry should treat natural diamonds...

01 april 2024

Edahn Golan: Lab-grown diamond prices to continue declining

In an exclusive interview with Rough&Polished's Mathew Nyaungwa, Edahn Golan, proprietor of the eponymous Edahn Golan Diamond Research and Data, predicted that the prices of lab-grown diamonds would continue to decline, especially at the retail and...

25 march 2024

ADPA’s Ellah Muchemwa: G7 restrictions to bring extra costs from diamond mining to retail

The African Diamond Producers Association (ADPA), which has openly registered its disdain for the G7’s rough diamond trade restrictions, is of the opinion that the move will bring extra costs on all stages, from mining to retail. ADPA executive...

18 march 2024

Eduard Gorodetsky: Currently we see high demand for synthetic diamonds for use in technology segment rather than in jewelry

Director General of the Advanced Synthetic Research Center Eduard Gorodetsky told Rough&Polished about the current situation at the company, new exclusive technologies in the synthesis and production of lab-grown crystals, as well as the Research Center’s...

11 march 2024

Aditya Birla Group enters retail jewellery business with $600 mn investment

08 june 2023
On 6 June 2023, the Aditya Birla Group announced that it has entered into the jewellery retail business with an investment of 50 billion rupees ($605.2 million). The conglomerate revealed that the new jewellery retail business will be established under a venture called 'NovelJewels.' The focus will be on developing large-format jewellery retail stores across India, featuring in-house jewellery brands.
Kumar Mangalam Birla, Chairman, of Aditya Birla Group said, “Aditya Birla Group's foray into branded jewellery retail marks a pivotal moment in our storied legacy of building businesses underpinned on trust. This foray is a strategic portfolio choice that allows us to tap into new growth engines and expand our presence in the vibrant Indian consumer landscape."
With rising disposable income, discerning and aspirational consumers lean more towards design-led, bespoke, and high-quality jewellery. This venture will capitalise on Aditya Birla Group’s deep expertise in lifestyle retail and nuanced understanding of consumer preferences, Birla added.
The Aditya Birla Group is comprised of flagship companies such as Grasim Industries, Hindalco, Aditya Birla Fashion and Retail, and Aditya Birla Capital, among others. The conglomerate employs approximately 140,000 individuals.

Aruna Gaitonde, Editor in Chief of the Asian Bureau, Rough&Polished