Tycoon Birla to Tap India’s Love for Gold With Jewelry Venture
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Billionaire Kumar Mangalam Birla plans to start selling gold jewelry in the world’s second-biggest bullion market by July as his conglomerate diversifies into new areas to tap the Indian consumer.
The Aditya Birla Group’s branded-jewelry retail business will be rolled out nationwide under a privately-held company, Birla said on the sidelines of an event to announce the launch of his paints business in the north Indian state of Haryana. “The group is moving towards more consumer-facing businesses, that’s where the world is moving,” he said.