Financial Daily from THE HINDU group of publications
Saturday, Mar 25, 2006
Financial Daily from THE HINDU group of publications Saturday, Mar 25, 2006 |
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Marketing
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Retailing States - Andhra Pradesh Alukkas to open Hyderabad outlet Our Bureau
Target The company wants to diversify into textiles, money exchanges, information technology and departmental stores. The expansion would be focussed in the UK, Singapore and the US The non-resident Indians as the major target group.
Hyderabad , March 24 Alukkas Jewellery, the retail jewellery major, is firming up plans to reach 100 outlets, across the globe by end of 2008. In addition, it wants to consolidate its diversification into textiles, money exchanges, information technology and departmental stores. Announcing the launch of its 61st outlet and first in Hyderabad on Friday, Mr Joy Alukkas, Chairman of the Group, said the expansion would be focussed in the UK, Singapore and the US, with the non-resident Indians as the major target group. In India, brand Alukkas has registered a turnover of Rs 400 crore last year and expects to cross Rs 600 crore this fiscal. In terms of investment, the company has made up to Rs 400 crore in the jewellery, textile and `wedding centres' so far, he told newspersons. The Hyderabad outlet, which is a 4-floor showroom, would showcase 22 carat gold and diamond jewellery from India and abroad, particularly Singapore, Turkey, Italy and Arabia. Brand Alukkas, is the world's number one 22-carat gold jeweller, he said. Two more outlets would come up in Hyderabad in the next few months. One would be in Secunderabad and the other in the State Government promoted Gems & Jewellery Park, where it has already taken 6,000 sq. ft, he added. Mr Mathew Francis, General Manager India, said another 75,000 sq. ft store would be launched in Kochi, the fourth in Kerala on April 2.
More Stories on : Retailing | Gems & Jewellery | Andhra Pradesh
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