Jewellery retailer Joyalukkas has unveiled a ₹3,600 crore expansion plan to launch 40 new showrooms across India and overseas by the next financial year, increasing its total outlets from 190 to 230. Of the new stores, 15 will be located internationally, including in new markets such as New Zealand and Canada, said Joy Alukkas, the group’s Chairman and Managing Director.
The expansion is part of the company’s structured growth strategy, with revenue expected to rise to ₹35,000 crore in FY26 from ₹30,000 crore in FY25. With the addition of new showrooms and increased international presence, turnover is projected to reach ₹41,000 crore in FY27, representing about 16% growth. Overseas operations currently contribute roughly 35% of the total revenue. The expansion will also increase the workforce from 11,000 to around 13,000 employees.
Despite volatile gold prices, the company remains focused on steady value growth, disciplined supply-chain management, and prudent capital deployment. While higher gold prices have moderated sales volumes, the company has maintained value growth of 15–16% through pricing strategies, product mix, and operational efficiency. Joy Alukkas attributed the rise in gold prices to global economic uncertainty and geopolitical developments, noting that central bank demand continues to support the metal. He expects gold prices to remain elevated in the near term, reinforcing its role as a long-term store of value.
Rising gold prices have also increased demand for diamond jewellery and lightweight designs, especially among younger consumers.
On the CSR front, Joyalukkas has emerged as one of Kerala’s largest contributors, completing 500 homes under its ‘Joy Homes’ project in 2025 and launching a multi-phase Old Age Home development programme with an overall commitment of about ₹100 crore. The first facility is under construction in Thrissur, Kerala.
The group has also placed an order for a Dassault Falcon 2000 LXS aircraft from France, estimated at ₹350 crore, with delivery planned for 2027. Currently, the company operates a Textron Cessna Citation XLS+ business jet and a Leonardo AW109 SP Grand helicopter.
