Visakhapatnam: A promising year ahead in making their presence stronger

Visakhapatnam: More than focusing on Gulf Cooperation Council (GCC), Jos Alukkas Managing Director Varghese Alukka says, the jewellery major counts on its expansion plans in tier II cities as they have a huge untapped potential. In an exclusive interview with The Hans India, the MD of the Kerala-based jewellery major says that the spending pattern of the people on gold and diamond jewellery has seen a surge in tier II cities.

Envisaging '2023' as the most promising year, Varghese Alukka shares the journey ahead, expansion plans in store and lays emphasis on the need to offer customer-driven enhanced service to stand out in the market. As Managing Directors of the group, the three brothers lead three different departments. Varghese Alukka takes care of the supply chain management and finance, Paul J Alukka of sales and HR and John Alukka of marketing and operations, while their father Jos Alukka is the chairman and MD of the group.

Started in Thrissur, Kerala 58 years ago, the Indian jewellery retailing group has come a long way spreading its wings in Southern states. Currently, Jos Alukkas has its presence in 45 places in Kerala, Tamil Nadu, Puducherry Maharashtra, Karnataka, Telangana and Andhra Pradesh. In Tamil Nadu alone, the group has about 22 stores. With the third generation of the group's family taking the reins, the focus is not just on infusing fresh designs of collection into the market but also giving an equal importance to enhancing customer experience. "In a highly competitive market, customer experience and the service that we lend make a difference. The crux lies in changing and meeting the ever-emerging needs of the customers," explains Varghese Alukka.

Even as the group's Visakhapatnam store completes a decade-long journey, the Managing Director says that the city holds a special place for him. "In entire Andhra Pradesh, Visakhapatnam is the best place, as people here are not only good but also possess business knowledge," Varghese Alukka reasons. In times of the Covid-19 pandemic, the group had to shut down for three to four months due to lockdown restrictions. "However, with the gold price rising up to 75 to 80 percent post the pandemic period, it has turned out to be a blessing in disguise for the jewellers as the inventory cost has eventually gone up. Also, jewellery stores witnessed brisk business post the lockdown phase. Even as some of the jewellers experienced certain setbacks in crediting salaries, maintaining costs and not getting the bank interest written off, the hike in the gold price aided in overcoming the challenges to a substantial extent," explains Varghese Alukka, who picked up the nuances of the trade three decades ago from the sales management level. Talking about their unique collection, Varghese Alukka says that certain jewellery products are sourced from the best available suppliers pan India, while exclusive designs often get specially crafted at the in-house manufacturing unit. In addition to a second store likely to come up at Gajuwaka in Visakhapatnam, this year, the group is planning to start another showroom in Warangal by March or April. "Apparently, we plan to open three to four stores every year. Going forward, the focus is also on increasing our presence in North India," Varghese Alukka adds.