Joyalukkas to add 14 more stores

Jewelry retail is on the upswing in India. Majors like Joyalukkas are on an expansion spree.

With 24 outlets in the country, the Kochi-based company is looking to add 14 new stores in the south like Thiruvananthapuram, Trichy, Shimoga. All the brand stores would be company-owned and Joyalukkas aims to complete the expansion plans by September 2013. Outside India they have 39 outlets and one textile outlet. The Rs 1,200 crore Joyalukkas India is a leading jewelry concept store chain.

With a capital outlay of Rs 500 crores, it is set to add another 3 lakh sq. ft. retail space in different cities over the next two years. These will include places like Mumbai, Delhi and Gurgaon. Since the company is mostly tapping Tier II and III cities, it is coming up with region-specific campaigns. About 80 per cent of its overall revenue comes from gold jewelry, 15 per cent from other precious jewelry made of diamond and platinum, and 5 per cent comes from textiles. Joyalukkas showrooms offer a wide variety of jewelry in gold, diamonds, pearl, platinum and precious stones. Some of the showrooms feature silver jewelry and silver items. The chain also includes the concept of wedding centres which offer a wide variety of jewelry, clothing and accessories for weddings and other occasions.