Joyalukkas posts record Diwali sales, bets big on studded jewellery

Joyalukkas, the Kerala- and Dubai-based jewellery group, is focused on the studded and precious jewellery segment as demand for diamonds and high-value pieces continues to grow. Joyalukkas is pursuing aggressive expansion, with 176 stores across 12 countries, including new showrooms in Sydney and Melbourne, and plans to reach 200 stores by the end of 2025-26 (FY26).

The company’s record-breaking Dhanteras sales of ₹1,163 crore during the week and ₹440 crore on Dhanteras day alone highlight strong consumer appetite. Compared to last year, sales were up 94% on Dhanteras day and 80% for the week in both value and volume. There Is also a sharp shift from unorganised to organised players in India’s jewellery retail space, expecting the market to be 60% organised within the next 18 months.