Joyalukkas' Golden Leap: Chasing $4 Billion with Global Expansion

Leading jewellery brand Joyalukkas aims to achieve a $4 billion sales turnover in FY26 by expanding its global presence to 200 showrooms across 14 countries.

Chairman and Managing Director Joy Alukkas revealed that the company has already reached $3 billion in sales with 170 existing showrooms. To meet its new target, Joyalukkas plans to open 30 additional showrooms this year—18 in India and 12 across Australia, the US, the UK, Canada, South Africa, and Gulf countries. Each showroom in India requires an investment of approximately ₹80 crore.

Despite rising gold prices, Joy Alukkas remains optimistic, noting that gold continues to be a preferred investment and essential wedding jewellery choice. While short-term sales fluctuations may occur, demand stabilizes over time. Insights from a recent World Gold Council meeting also suggest sustained gold purchases, driven by economic growth and rising consumer purchasing power.

Joyalukkas has maintained a consistent growth rate of 15-16% CAGR, supported by timely store renovations, customer-centric schemes, and growing footfall. Additionally, higher gold prices have fueled increased demand for diamonds and lightweight jewellery.

On a potential IPO, Joy Alukkas stated that the company would evaluate it at the right time.

Joyalukkas recently launched a 15,000 sq. ft. Signature Jewellery showroom in Kochi, one of the largest in the region, catering to modern brides with an extensive collection spread across four floors.

News by Rahul Yelligetti.