Joyalukkas to enter into mall biz

Leading jewellery group, Joyalukkas, which has diversified its operations into different sectors, is now venturing into the business of malls. Branded ‘Mall of Joy', the new business entity will start operations in eight locations over the next 30 months and the first mall will be unveiled in Kozhikode in March. Being established at a total outlay of around Rs 1,000 crore, the eight malls will have a combined floor area of more than two million sq ft. Apart from Kozhikode, the malls will come up at Thrissur, Kochi, Alappuzha, Kottayam, Palakkad, Thiruvananthapuram and Coimbatore. The retail mix of ‘Mall of Joy' will feature two anchor stores, namely, jewellery and silks. The other outlets will include those for fashion and clothing, cosmetics, watches, footwear, opticals, beauty parlour, restaurants and food courts, apart from a children's play area.