Jos Alukkas to invest Rs 5,500 crore on retail expansion

By

Maverick Martins

Published
Apr 27, 2023

Jos Alukkas, a Kerala-based jewellery retail chain has earmarked an investment of Rs 5,500 crore ($674 million) to open 100 new stores across the country over the next 7-8 years.

Along with domestic expansion, the company is looking to expand its presence in the overseas markets by opening stores in countries like the US, UK, and the Gulf region.

In India, Jos Alukkas will focus on south India by opening stores in key markets like Tamil Nadu to gain a larger share of the gold market in the country.

Commenting on the expansion, Paul Alukka, managing director of Jos Alukkas said, “We are launching 100 stores with an investment of Rs 5,500 crore. This will be the single largest investment and expansion plan by a jewellery retail brand in the country.”

“Nearly 40 percent of the gold market in the country is in the south, and Tamil Nadu is one of the biggest markets. Out of the company’s 50 stores, 23 are in Tamil Nadu. Another 10 stores are being planned in the State,” he added.

Jos Alukkas currently has 50 stores across India and sells online through its website. The brand is endorsed by actors R Madhavan and Keerthy Suresh.