Joyalukkas to spend Rs. 1,500 crore on 30 stores in India abroad.

'Each of the stores will be set up at an investment of Rs. 50 crore. We want to enter USA and Sri Lanka with our jewellery to cater to the Indian diaspora. We may look at private equity funding in future if we need funds for our retail expansion plan,' Alukkas said.

'The domestic branded jewellery market has enough room to grow and we want to leverage this growth opportunity.'

Recently, another Thrissur-based jewellery firm, Kalyan Jewellers, received an investment of Rs. 1,200 from PE fund Warburg Pincus for its expansion plan.

ET