Joyalukkas To Invest Rs 425 cr

MUMBAI: Joyalukkas India, a Kochibased textiles and jewellery retailer, plans to invest Rs 425 crore to open 14 exclusive retail outlets in two years, reports Pradeep Pandey from Mumbai.

“Joyalukkas plans to focus on large format stores and develop its existing branded jewellery lines and introduce additional sub-brands in the diamond and platinum jewellery markets," managing director Alukkas Varghese Joy told ET.

Each new outlet will be up to 80,000 sq ft in size and will require an average investment of Rs 70-80 crore per store. At present, it has 22 stores with an average store size of 40,000 sq ft in Chennai, Bangalore and Coimbatore.