The Group plans to launch 40 new showrooms next year, leveraging internal accruals, updated systems and future market potential
Ahmedabad: The Joyalukkas Group leadership participated in the India Management Research Conference held from December 5-7, 2025 at IIM Ahmedabad, focused on the theme ‘The Future of the Economy: People, Organizations and Policy’. The session featured a ‘Hot Seat Conversation’ with Dr Joy Alukkas, Chairman, Joyalukkas Group and Thomas Mathew, Executive Director of the Group, moderated by Sachin Jain, Regional Head, World Gold Council India. The discussion examined the current structure of the jewellery market, sector behaviour in India and internationally, the evolution of retail formats and the influence of data on organizational decision-making.
As India’s jewellery sector continues to evolve with more structured expansion models, sharper customer segmentation and increased compliance expectations for large retailers, the session explored how Joyalukkas is aligning itself with this shift. Dr Joy Alukkas, Chairman, Joyalukkas Group said, “We started with a focus on long-term discipline, and even today the Group follows the same principles we began with. Our retail journey has been anchored in consistency, process-led operations, and a strong workforce of over 11,000 people that supports our wider network.”
Dr Alukkas reflected on the Group’s previous attempts at a public offering. He said that the company had explored an IPO in 2011 and again in 2021 but chose to withdraw both times. “We will let the next generation decide the future move. For now, we choose peace and focus on growth,” he stated. He also confirmed that 40 new showrooms are planned for the next year, funded entirely through internal accruals and bank support.
Outlining how technology and data inform operations across markets, Thomas Mathew, Executive Director, Joyalukkas Group, said, “We use technology and data to guide our operations across markets. Systems such as Dynamics 365, Power BI and CRM tools help us map demand, assess product movement and make informed stock decisions. Developments in 3D printing and electroplating also allow us to manage gold weight while meeting regional expectations.”
Younger consumers are increasingly seeking clear information on sourcing, hallmarking and buyback policies. Shifts in consumer behaviour, the rise of digital gold, and greater regulatory clarity are expected to shape how retailers bridge physical and digital formats in the future, Mathew added
Dr Alukkas also elaborated on the Group’s focus on employee development as it scales its retail footprint. “Our people have powered our growth, and we continue to invest in them as we scale,” he said.
He added that in the backdrop of the evolving role of large-format jewellers in India, Joyalukkas is positioning itself through structured expansion, workforce investment, and strengthened internal governance. The Group’s planned store rollouts, updated systems and compliance structures place it on a trajectory aligned with long-term industry expectations and future market participation, he explained.
The Joyalukkas Group operates more than 190 showrooms across 12 countries. Most senior positions in the organization are filled by employees who have grown through internal roles. This internal talent development remains central to the group’s operating model, ensuring consistent management and operations across its global network.
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