Jos Alukkas, a jewellery retail chain based in Thrissur, Kerala, has announced plans to invest Rs 5,500 crore to open 100 new stores across India over the next 7-8 years. This will be the largest investment and expansion plan made by a jewellery retail brand in India. Managing Director, Varghese Alukka, made the announcement.

The expansion can be completed in 7-8 years, according to Alukka. However, with sufficient funding and real estate, the project can be completed in a shorter time frame of 4-5 years.

Actor R Madhavan has been appointed as the ambassador for the jewellery group Jos Alukkas, which currently owns 50 stores. The group has also enlisted actress Keerthy Suresh to lead upcoming campaigns.

“Jos Alukkas’s six-decade-long legacy in the jewellery sector obviously gives it a legendary place in the gold retail industry in the country. I am very happy to be a part of Jos Alukkas’ mission of sharing ideas and expressions with the people with utmost responsibility,” actor Madhavan said.

The company is shifting its attention outside of India in order to establish itself as a global designer brand. To achieve this goal, they plan to establish an international design lab.

According to Varghese Alukka, the jewellery empire is planning to set its footprints overseas and is contemplating countries like the US, UK, and the Gulf region.

Jos Alukka, the chairman of jewellery retail company Joyalukkas, predicts that their global expansion will not solely focus on areas with a high population of the Indian diaspora, but will reach all important city centers across the world.

Varghese Alukka, the managing director of Keralite jewellery company, said that his company has no debts and can avail itself of bank loans, private equity, and even consider an initial public offering (IPO).

Paul J Alukka, the Managing Director of Jos Alukkas, stated that the southern region of India accounts for nearly 40% of the country's gold market, with Tamil Nadu being one of the largest markets in the region. The company currently operates 50 stores, of which 23 are located in Tamil Nadu, and plans to open another 10 stores in the state in near future.