JOS ALUKKAS TO INVEST ₹5,500 CRORE TO LAUNCH 100 NEW STORES ACROSS INDIA IN LARGEST EXPANSION PLAN BY A JEWELLERY RETAIL BRAND IN THE COUNTRY

28th April 2023

Jos Alukkas has announced its plans to invest ₹5,500 crore over the next 7-8 years to launch 100 new stores across India. This marks the largest investment and expansion plan by any jewellery retail brand in the country to date.

Jos Alukkas, a prominent jewellery retail chain based in Thrissur, Kerala, has announced its plans to invest ₹5,500 crore over the next 7-8 years to launch 100 new stores across India. This marks the largest investment and expansion plan by any jewellery retail brand in the country to date. Jos Alukkas Managing Director Varghese Alukka shared the details of the expansion plan during a recent media briefing.

The company currently operates more than 50 stores in India and has roped in actor R Madhavan as its global ambassador. Actress Keerthy Suresh will also lead future campaigns of Jos Alukkas. The company’s expansion plan can be completed in 4-5 years if adequate funding and real estate are available, Alukka added.

Jos Alukkas is looking to expand overseas, targeting countries like the United States, the United Kingdom, and the Gulf region. The company’s focus is on becoming a designer brand outside India, with plans to set up an international design lab. Speaking on the expansion plan, Chairman Jos Alukka emphasized that the company’s global expansion will not only concentrate where the Indian diaspora is located but also reach every important city in the world.

Varghese Alukka stated that the company has zero debt and can avail itself of bank loans, private equity, and even an IPO for funding. Nearly 40% of the gold market in India is in the south, with Tamil Nadu being one of the biggest markets. Out of the company’s 50 stores, 23 are located in Tamil Nadu, and another 10 stores are planned in the state, according to Paul J Alukka, Managing Director of Jos Alukkas.

Madhavan expressed his excitement to be a part of Jos Alukkas’s legacy in the jewellery sector and the company’s mission of sharing ideas and expressions with the people with utmost responsibility. With this ambitious expansion plan, Jos Alukkas is set to solidify its position as a leading jewellery retailer in India and beyond.