National News
Joyalukkas to invest ₹3,600 crore to add 40 stores; aims for ₹41,000 crore revenue by FY27
Ambitious expansion plan to strengthen domestic and international presence, with 15 new overseas outlets and entry into markets such as New Zealand and Canada.
The renowned jewellery retailer, Joyalukkas, has unveiled a highly ambitious and meticulously structured expansion strategy, poised to significantly reshape its global retail footprint and financial trajectory. This plan is underpinned by a massive investment of Rs.3,600 crore, dedicated to the establishment of 40 new, state-of-the-art showrooms across both India and international markets by the next financial year.
This strategic rollout is set to dramatically increase the group’s retail network, elevating the total showroom count from the current 190 to an impressive 230. The scale of this initiative is directly linked to an aggressive financial forecast: the company is aiming to reach a monumental revenue milestone of Rs.41,000 crore by the financial year 2027 (FY27).
A crucial component of this expansion is the emphasis on global market penetration. Joy Alukkas, the Chairman and Managing Director of the group, confirmed that 15 of these new outlets will be situated overseas, marking a concerted effort to broaden the international presence of the brand. Notably, this international drive includes entering entirely new geographical markets for the company, specifically targeting countries such as New Zealand and Canada, signaling a bold move into established, high-potential Western economies. This move highlights Joyalukkas’s commitment to consolidating its position as a truly global leader in the premium jewellery retail sector.
India’s appetite for borrowing against gold is reshaping the country’s credit landscape. Outstanding gold-backed loans have surged 128% from a year earlier, crossing Rs.4 lakh crore ($48 billion) for the first time, according to data from the Reserve Bank of India. As of Jan. 31, loans secured by gold jewellery stood at Rs.4,00,517 crore, marking one of the fastest expansions in retail credit in recent years.
The boom in gold loans has helped propel overall non-food bank credit growth to 14.4% year-on-year. Personal loans now account for 34.5% of total bank lending, outpacing other segments and underscoring a broader shift toward consumer-driven credit expansion
Gold loans alone contributed roughly 9% of incremental bank credit during the period. Between January 2024 and January 2026, outstanding gold-backed credit rose by nearly Rs.3.1 lakh crore—an increase of about 338% over two years—more than quadrupling the size of the portfolio.
Two factors are driving the surge. First, gold prices have climbed roughly 152% over the past two years, increasing the collateral value of household holdings. Second, regulatory guidance requiring banks to classify loans secured by gold explicitly as gold loans has sharpened reporting and accelerated balance-sheet growth in the segment.
The trend highlights a distinctive feature of India’s financial system: households’ vast stock of physical gold, long viewed primarily as a store of wealth, is increasingly being mobilized as collateral for formal credit.
While personal lending and credit to nonbank financial companies within the services sector continue to expand rapidly, industrial credit remains uneven. Loans to micro, small and medium enterprises are growing steadily, but borrowing by large corporations has stayed relatively muted.
Since March 21, 2025, banks have added Rs.21.8 lakh crore to their non-food loan books, translating into 12% growth for the financial year to date. Yet it is gold—rather than factories or infrastructure—that is emerging as one of the most dynamic engines of India’s current credit cycle.
-
National News4 days agoIIBS-11: Navigating the ‘New Gold Rush’ in a fragmenting global economy
-
International News4 days agoOroarezzo 2026, with Italian Exhibition Group, Manufacturing Explores New Markets
-
International News4 days agoGemfields nets $53m in Bangkok ruby auction
-
New Premises4 days agoLimelight Diamonds Unveils Exclusive Visakhapatnam Store in the Presence of Union Minister of Civil Aviation Shri Kinjarapu Ram Mohan Naidu
JewelBuzz is Asia’s First Digital Jewellery Media & India’s No.1 B2B Jewellery Magazine, published by AM Media House. Since 2016, we’ve been the trusted source for jewellery news, market trends, trade insights, exhibitions, podcasts, and brand stories, connecting jewellers, retailers, and industry professionals worldwide.