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Dubai co working on online gold sale portal |
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3/25/2006 9:29:26 AM |
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HYDERABAD, MARCH 24 : For the first time in the e-commerce segment, the Dubai-based Rs 400-crore Joy Alukkas Traders (India) Private Ltd is in the process of launching a portal to facilitate online buying of gold jewellery. The portal is expected to be launched next week which is indeed unique as mostly the ‘touch-feel factor’ plays a vital role while buying gold. Further, the company has lined up investments for about Rs 400 crore in the next three years to expand its jewellery retail stores besides the launch of this portal.
Announcing this to the media during the launch of its 61st retail outlet here on Friday, Joy Alukkas, chairman, said that the proposed investment of Rs 400 crore in the next three years is being made so as to position the company with reckonable presence in the field of retail, jewellery, textiles, money exchanges, IT and departmental stores.
Further, the company is looking at entering into media space as it is already marketing AsiaNet in the Middle East. ‘‘We are planning to have over 100 retail outlets by 2008 and clock a turnover of Rs 600 crore for this year,’’ Mr Alukkas said.
Alukas is also planning to set up of one-stop stores across the country where all the needs for a wedding such as jewellery, cosmetics, furnishing, footwear, etc are available under one store.
Meanwhile, the Hyderabad store is being set up with an investment of Rs 25 crore which will showcase 22 carat gold and diamond jewellery which are all BIS hallmarked. It has plans to open two more and has rented space at the AP Gems Park. Presently, it has a market share of 27% with 600 jewellers in Dubai and 40% in Kerala among 1,000-odd jewellers.
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