Joyalukkas Eyes $4 Billion Sales by FY26 with 200 Showrooms Across 14 Countries
Joyalukkas, one of the leading jewellery brands, is aiming to achieve a remarkable $4 billion sales turnover by the end of FY26. To reach this ambitious goal, the company plans to expand its global presence by increasing its showroom count to 200 across 14 countries
Steady Progress Towards the Goal
Currently, Joyalukkas has already crossed $3 billion in sales, supported by its network of 170 showrooms. To bridge the gap to the new target, the brand intends to add 30 more showrooms this year
Strategic Expansion Across Key Markets
Planned 30 new outlets, 18 will be opened in India, while 12 will be established in international markets, including Australia, the US, the UK, Canada, South Africa, and Gulf countries. According to Joy Alukkas, Chairman and Managing Director of Joyalukkas Group, the company invests approximately ₹80 crore per showroom in India. He shared this information during the launch of their Signature Jewellery showroom in Kochi, as reported by BusinessLine
Gold Prices Won’t Deter Buyers
Despite the ongoing surge in gold prices, Joy Alukkas remains confident in the continued demand for the precious metal. He stated, “Despite rising prices, customers still view gold as a safe investment, wedding jewellery, or a financial backup during distress. While there may be short-term dips in sales volume during price fluctuations, buyers return when prices stabilize.”
He also highlighted insights from a recent World Gold Council meeting, which revealed that global gold purchases are expected to remain stable, driven by overall economic growth and increasing consumer purchasing power
Consistent Growth and Customer-Centric Strategies
Joyalukkas has maintained a consistent annual growth rate of 15-16% CAGR. This steady expansion is fueled by regular store refurbishments, attractive customer schemes, and rising footfalls. Interestingly, the surge in gold prices has also boosted demand for diamonds and lightweight jewellery, as more customers explore alternative investment options.
IPO Plans on the Horizon
When asked about the possibility of launching an IPO, Joy Alukkas mentioned that the company would consider it at the right time, indicating that they are keeping their options open.
Signature Jewellery Showroom in Kochi
The newly inaugurated Signature Jewellery showroom in Kochi spans 15,000 sq. ft., making it one of the largest in the region. Designed to cater to modern brides, the showroom showcases an extensive range of jewellery collections across four floors, offering a diverse selection to meet evolving customer preferences
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