Joy­alukkas un­veils first show­room in Kolkata

VM&RD - - WASSUP! -

Jtwo oy­alukkas, 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 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 multi­bil­lion dol­lar global con­glom­er­ate which started in 1987 in Abudhabi is ex­pand­ing rapidly and aims to have a 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

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