Joyalukkas is set to debut a new online-only jewellery brand by FY26, aiming to capture the expanding market of younger, digitally savvy consumers.
The upcoming online brand will offer daily wear jewellery priced between Rs.20,000 and Rs.40,000, with collections updated frequently to align with current trends. The company plans to utilise its in-house design expertise to create collections, focusing primarily on 18-carat diamond jewellery.
Unlike competitors such as Titan and Kalyan Jewellers, which entered the online jewellery sector through acquisitions of Caratlane and Candere, Joyalukkas is pursuing organic growth for its digital expansion, Chairman Joy Alukkas disclosed in a media interview
Joyalukkas will become the third major offline player to target millennials by offering diamond-studded jewellery exclusively online. Multiple estimations place India’s online jewellery market value at approximately $1 billion, with projections indicating it could grow to $3 billion in the coming years.
“The focus will be on metro and tier-I markets, where there is a higher concentration of working professionals. We plan to expand into additional markets over time and may explore a physical presence with smaller, scalable stores,” Joy Alukkas stated.
“We are in the process of naming the new online jewellery venture. While we remain open to potential acquisitions, we believe our in-house expertise will be pivotal in developing this new brand,” Joy Alukkas added.
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