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regular-article-logo Monday, 27 May 2024

Aditya Birla Capital floats digital platform, aims for three crore customers in three years

The conglomerate is set to enter the jewellery retail business after a foray into paints

Our Special Correspondent Mumbai Published 17.04.24, 11:36 AM
Kumar Mangalam Birla in Mumbai on Tuesday.

Kumar Mangalam Birla in Mumbai on Tuesday. PTI

Aditya Birla Capital (ABC) is looking to add three crore customers in three years through its digital platform.

The conglomerate is set to enter the jewellery retail business after a foray into paints.

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In June last year, it announced plans to enter retail jewellery at an investment of Rs 5,000 crore.

The business will be housed under a new venture, Novel Jewels Ltd, and will build large-format exclusive jewellery retail stores across India, featuring in-house jewellery brands.

ABC on Tuesday launched its omnichannel D2C platform ABCD (Aditya Birla Capital Digital). The group feels the launch would mark a pivotal moment in its ambitious journey to drive growth and leadership and become a full-stack financial services provider.

The platform will offer a portfolio of 22 products and services, including facilities of a payment platform — such as UPI, bill payment, and online recharges, with financial services such as loans, insurance, and investments along with comprehensive personal finance tracking such as ‘My Track’ among others.

Speaking at the event, group chairman Kumar Mangalam Birla said it is also aiming for a 19-21 per cent per annum growth in insurance, credit and asset management businesses over the next three-five years.

ABC’s chief executive Vishakha Mulye said the company has invested Rs 100 crore over the last year to build the platform, aimed at acquiring new customers.

Aditya Birla Capital serves over 3.5 crore customers across businesses.

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