Joyalukkas unveils first showroom in Kolkata

Joyalukkas, Dubai based global jewellery retail chain, opened their first showroom in Kolkata on the very busy and high-end Camac Street to mark their entry in the east zone of the country. With over 90 stores globally across 10 countries, this new store is their 47th showroom in India among their total EBO's. The 4000 sq.ft. store is spread over two levels offering only Gold Collection on the Ground floor and Platinum, Diamond and  Silver Collection on the 1st level.
 
On the launch, Joy Alukkas, Chairman and M.D., Joyalukkas Group said, "We are excited to expand our presence to the great'City of Joy'. We are a global jeweller that strongly understands and is sensitive to local culture and traditions. The designs and quality of Joyalukkas Jewellery will pay homage to the rich cultural heritage of Kolkata, and we look forward to welcoming the people of Kolkata into our modern and international quality showrooms. The organised jewellery retail is really booming in India and we expect at least 100 crore business from this store. On an average we invested around 60 crore in this new showroom." The Joyalukkas Kolkata showroom follows the signature Joyalukkas large format designs and will offer 1 million designs across a range of jewellery forms such as gold, diamond, precious stones, polka platinum and pearl jewellery.
 
Bollywood icon Hrithik Roshan, the Joyalukkas Brand Ambassador commented on the opening, "Joyalukkas is a brand that stands for choice, service, best price, convenience and best practices and am sure their refreshing international quality in jewellery shopping will win the heart of Kolkata.”
 
While commenting on the background research the brand had to do for expansion, Joy Alukkas further says, "We are targeting mainly high-streets and independent buildings in metros and tier I and tier II cities as location is the key factor when it comes to open the exclusive brand retail outlets. We believe that 70% of the business depends on location of the store.” With the aim to cater to all segments, Joyalukkas will offer quality finished product and the popular CPT (clear price tag) will allow the customers to understand the value and details of the jewellery they are purchasing.
 
The 25 year old multi-billion dollar global conglomerate which started in 1987 in Abudhabi is expanding rapidly and aims to have 100 jewellery showroom chain by the end of 2014. Joyalukkas jewellery retail showrooms are present globally in places like London, Singapore, UAE, Saudi Arabia, Bahrain, Oman, Kuwait and Qatar.
 
CA Deepak Xavier, DGM Finance, Joyalukkas India Pvt. Ltd. shares, "After Kolkata, the group is coming up with new showrooms very soon in Bhubaneswar, Jamshedpur in East and in January we are planning to open five outlets among which three will be in Andhra Pradesh and two more in Mumbai's Vashi and Mulund. We have good retail network in South region and now we are looking at West and East zones as well to have a Pan India presence.”
 
Joyalukkas Group also has'Our Joy' centres which are attached to their jewellery showrooms. Deepak Xavier further informs, "Currently we have 220 Our Joy centres which are majorly in South India. These centres are there to facilitate the customers with different schemes on Gold jewellery, advance bookings, repairing and such. Under each retail branch there are six-ten such centres. We are planning to open such centres here in Kolkata as well.”
 
Joyalukkas Group has also diversified into various other retail areas with fashion and textile, Malls and Realty and in other verticals like money exchange and aviation.'Mall of Joy' the wedding mall is a latest addition in their business conglomerate. Currently there are four such specialized wedding malls in Kerala and one in Dubai.