Joyalukkas to invest ₹3,600cr for 40 new showrooms worldwide
What's the story
Leading jewelry retailer Joyalukkas has unveiled a massive ₹3,600 crore investment plan. The company intends to open 40 new showrooms in India and abroad by the end of the next fiscal year. This expansion will take its total number of showrooms from the current 190 to an impressive 230. Of these, 15 outlets will be set up overseas in markets like New Zealand and Canada.
Revenue goals
Ambitious growth plans and revenue projections
The expansion is part of Joyalukkas's planned growth strategy. The company expects its revenue to rise from ₹30,000 crore in FY25 to ₹35,000 crore in FY26. With the new store openings and international market penetration, it hopes to achieve a turnover of ₹41,000 crore by FY27, a 16% increase. Currently, international operations account for nearly 35% of the company's total revenue.
Market adaptation
Joyalukkas's response to rising gold prices
Despite the volatility in gold prices, Joyalukkas remains committed to value growth, supply-chain discipline, and prudent capital deployment. The company's chairman and MD, Joy Alukkas, said that while high gold prices have slightly affected volume sales, they have managed a 15-16% value growth through pricing strategies and operational efficiencies. He attributed the rise in gold prices to geopolitical tensions and global economic uncertainty but remained optimistic about its long-term stability as a store of value.
Social responsibility
CSR initiatives and future plans
Joyalukkas has also made a name for itself in corporate social responsibility (CSR) programs. The company is the biggest contributor to such initiatives among Kerala-based firms. It completed 500 homes under its 'Joy Homes' project for underprivileged families. It has also begun a multi-phased old age home development program with an overall CSR commitment of around ₹100 crore.