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Joyalukkas to open showrooms in NY, S'pore & Sydney
24 Aug '07
3 min read
Armed With a Pedigree in Gold Trade, Mr.Joy Alukkas set out of Thrissur to reach UAE with dreams of making it big in the jewellery business.
Twenty years later, Joyalukkas Jewellery is a name to reckon with in the yellow metal trade in the Gulf region where it has 34 outlets.
But Mr.Alukkas is far from being complacent. His future dreams include spreading out beyond West Asia. He has opened an outlet in London. “My idea is to open jewellery showrooms in New York,/Singapore and Sydney,” he says.
Joy Alukkas also believes in doing things big. For instance, he recently opened the largest jewellery outlet in gulf region. He is now building the largest jewellery retail showroom in Chennai, which is likely to be ready by September.
The retail chain hopes to achieve $1-billion turnover and a store count of 100 outlets by 2009. 'I thought I will reach that figure only by 2010.At the present rate, I feel we will be there a year earlier,” he says. At present, he has 50outlets and a turnover of $550 million.
"In Jewellery retail, real estate location is very important, he reasons.” Once the location is right, 50% of the job is done,” he says. All the Joyalukkas showrooms are in prime locations. The Chennai showroom is coming up at T –Nagar, Chennai's prime business district.
The retail chain's current priority is India, where it has over 16 showrooms. It is now a bit south-heavy and Joy Alukkas is in process of correcting it by expanding the chain's footprint to north India. Besides, an initial public offering may be on the cards as well next year.
Twenty years later, Joyalukkas Jewellery is a name to reckon with in the yellow metal trade in the Gulf region where it has 34 outlets.
But Mr.Alukkas is far from being complacent. His future dreams include spreading out beyond West Asia. He has opened an outlet in London. “My idea is to open jewellery showrooms in New York,/Singapore and Sydney,” he says.
Joy Alukkas also believes in doing things big. For instance, he recently opened the largest jewellery outlet in gulf region. He is now building the largest jewellery retail showroom in Chennai, which is likely to be ready by September.
The retail chain hopes to achieve $1-billion turnover and a store count of 100 outlets by 2009. 'I thought I will reach that figure only by 2010.At the present rate, I feel we will be there a year earlier,” he says. At present, he has 50outlets and a turnover of $550 million.
"In Jewellery retail, real estate location is very important, he reasons.” Once the location is right, 50% of the job is done,” he says. All the Joyalukkas showrooms are in prime locations. The Chennai showroom is coming up at T –Nagar, Chennai's prime business district.
The retail chain's current priority is India, where it has over 16 showrooms. It is now a bit south-heavy and Joy Alukkas is in process of correcting it by expanding the chain's footprint to north India. Besides, an initial public offering may be on the cards as well next year.
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