Joyalukkas signs MoU with SPR India to open new showroom at SPR City

The 20,000 sq ft showroom is expected to be a mammoth retail space in the upmarket integrated township, marking a significant expansion for Joyalukkas in Chennai. The move is part of the brand’s broader growth strategy to enhance its presence and customer experience

Chennai: Joyalukkas, one of India’s largest jewellery brands, has signed a Memorandum of Understanding (MoU) with SPR India to open a flagship showroom at SPR City, Chennai’s largest integrated township.

The new showroom, spanning over 20,000 square feet, will make Joyalukkas the first jeweller to set up such a vast retail space within the township. This move is part of the brand’s ongoing expansion plans in Chennai.

Joy Alukkas, Chairman of Joyalukkas Group, shared his excitement about the development, stating, “This is a significant milestone in our growth strategy, and we look forward to increasing our store count in Chennai as part of our broader expansion efforts.”

The partnership with SPR India is expected to strengthen Joyalukkas’ presence in the city, offering customers a luxurious shopping experience in one of Chennai’s most prestigious locations. The brand has reported a turnover of Rs 14,513 crore in FY2023, with a net profit of Rs 899 crore in India. The brand is on course to realize its turnover target of Rs 17,500 crore in FY2024. The company has 160 showrooms the world over, of which 100 are in India. It has plans to take the total India showroom count to 130 and is in the process of expanding its North India footprint. The company also plans to invest approximately Rs 2,400 crore spread over the next two financial years to open 30 new showrooms in India and 10 outlets abroad. 

Retail Jeweller India News