With an eye on the rural markets of the southern states, jewellery maker Jos Alukkas and Sons has announced a Rs 550crore expansion plan for the next two years and plans to open 12 new stores, mainly in non-metros, during the year.The company currently has a total of 19 stores.
Justifying the focus on the tier-II cities, Mr Varghese Alukka, one of the three managing directors of the Rs 553-crore company said, “ tier-II city buyers are lot more serious about gold as an investment option and hence the purchases are in bulk. And that is why we have chosen Tamil actor Vijay as our brand ambassador to appeal to the masses.”