Joyalukkas Plans Aggressive Expansion, Eyes $4 Billion Sales in FY26.

Leading jewellery brand Joyalukkas is aiming for a $4 billion sales turnover in FY26 by expanding its global footprint with 200 showrooms across 14 countries.

Joy Alukkas, Chairman and Managing Director of Joyalukkas Group, said the company has already achieved $3 billion in sales with its existing 170 showrooms. To reach the new target, the brand plans to open 30 additional showrooms this year.

Of the new outlets, 18 will be in India, while 12 will be spread across Australia, the US, the UK, Canada, South Africa, and Gulf countries. On average, the company invests around ₹80 crore per showroom in India, he told BusinessLine during the launch of Joyalukkas' Signature Jewellery showroom in Kochi.

Addressing concerns over surging gold prices, Joy Alukkas said, “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 cited a recent World Gold Council meeting, which indicated that gold purchases would remain stable despite price increases, supported by overall economic growth and rising purchasing power.

Joyalukkas has maintained a steady growth rate of 15-16% CAGR, driven by timely store refurbishments, new customer schemes, and increasing footfalls. The rise in gold prices has also boosted demand for diamonds and lightweight jewellery.

On the possibility of an IPO, Joy Alukkas said the company would consider it at an appropriate time.

The newly launched 15,000 sq. ft. Signature Jewellery showroom in Kochi, one of the largest in the region, is designed to cater to modern brides and showcases an extensive range of collections across four floors, tailored to diverse customer preferences.

HBL