Brands
Gold swap gets smarter with Indriya’s zero deduction exchange offer
MUMBAI: Why let your old gold gather dust when it can shine anew without losing a single rupee? Indriya, the Aditya Birla Group’s fine jewellery brand, has unveiled ‘Smart gold exchange’, a bold nationwide initiative that offers India’s only zero-deduction policy on old gold, starting from 14kt upwards. Whether it’s a well-worn 14kt trinket or a family heirloom in 22kt, customers can now exchange their pre-loved gold jewellery at full market value, with absolutely no hidden charges or deductions, a rare promise in an industry notorious for its fine print. The initiative reimagines the traditional exchange process with a sharp focus on transparency, trust, and transformation.
“At Indriya, we believe trust is the most precious element in every piece of jewellery,” said Indriya CEO Sandeep Kohli. “With this initiative, customers can upgrade to our new collections without losing value. It’s seamless, smart, and sincere.”
The exchange scheme is now available at all 25 Indriya stores across India, including:
. Delhi (5)
. Hyderabad (4)
. Mumbai & Pune (3 each)
. Ahmedabad, Jaipur, Patna (2 each)
. Indore, Surat, Andhra Pradesh, Uttar Pradesh (1 each)
The campaign doesn’t just appeal to those seeking a style refresh, it targets a broader shift in consumer behaviour, where value retention and brand transparency are gaining currency. By removing deductions regardless of karatage and keeping the process fuss-free, Indriya is not just offering new jewellery, it’s offering peace of mind.
With the Smart gold exchange, the brand adds sparkle not only to jewellery boxes, but also to the way Indians think about their old gold as an asset ready to be reimagined, not reduced.
Brands
Estée Lauder to shed 10,000 jobs as new boss bets on digital shift
The cosmetics giant raises its profit outlook but stays silent on a possible merger with Spain’s Puig, as job cuts deepen and a three-year sales slump weighs on the turnaround
NEW YORK: Stéphane de La Faverie is not done cutting. Estée Lauder announced on Friday that it plans to eliminate as many as 3,000 additional jobs, taking its total redundancy programme to as many as 10,000 roles, up from a previous target of 7,000 announced a year ago. The company, which owns La Mer, The Ordinary, Tom Ford, and Aveda, employs roughly 57,000 people worldwide. The mathematics of what is now being contemplated is stark.
The fresh round of cuts is expected to generate a further $200 million in savings, bringing the total annual savings from the programme to as much as $1.2 billion before taxes. That money, De La Faverie has made clear, will be ploughed back into the turnaround.
A CEO in a hurry
De La Faverie, who took the helm in January 2025, inherited a company that had endured three consecutive years of annual sales declines. His response has been to move fast and cut deep. A significant portion of the latest redundancies reflects his push to reduce headcount at US department stores, long a cornerstone of Estée Lauder’s distribution model but now a channel in structural decline. In their place, he is accelerating the shift toward faster-growing online platforms, including Amazon.com and TikTok Shop, a pivot that is reshaping not just where Estée Lauder sells but how it thinks about its customers.
The numbers are moving in the right direction
Despite the pain, there are signs the medicine is working. Estée Lauder raised its profit outlook for the remainder of the fiscal year, guiding for adjusted earnings per share in the range of $2.35 to $2.45, above analyst estimates and a notable step up from the $2.05 to $2.25 range it had guided for in February. Organic net sales growth is expected to come in at 3 per cent, the company said, at the high end of the range it set out in February.
The share price tells a mixed story. After De La Faverie took charge, the stock surged nearly 60 per cent, buoyed by investor optimism that a longtime company insider could finally arrest the decline. But 2026 has been rougher: the shares have fallen 27 per cent this year, weighed down by disappointing February results and the overhang of unresolved merger talks with Spanish beauty giant Puig Brands SA. The company gave no additional details about those discussions on Friday, leaving the market to guess.
Silence on Puig
The proposed tie-up with Puig remains the most consequential unknown hanging over Estée Lauder. A deal with the Barcelona-based group, which owns brands including Carolina Herrera and Rabanne, would reshape the global luxury beauty landscape. But with nothing new to say and a turnaround still very much in progress, De La Faverie is asking investors to trust the process.
Three years of sales declines, 10,000 job cuts, and a merger that may or may not happen. At Estée Lauder, the overhaul has barely started.
