Hrithik Roshan will no longer be the face of Joyalukkas

18 Dec,2014

By Sutanuka Ghosal

 

Kochi-based jewellery retailer Joyalukkas has decided to discontinue Bollywood actor Hrithik Roshan as its brand ambassador as it looks to turn to a “mature and established actress”, toeing the strategy followed by its peers Kalyan Jewellers and Malabar Gold & Diamonds which have roped in Aishwarya Rai Bachchan and Kareena Kapoor Khan, respectively, to endorse their brands.

 

The company’s chairman Joy Alukkas said there are no plans to renew Roshan’s oneyear contract, which expires this month. “We will now bring in a Bollywood actress who is established and mature and can add value to our brands in India as well as in the global markets. She will be appointed in March so that we can launch her in the next financial year,” he said.

 

Although Alukkas said the company’s marketing team is still working on finding a replacement for Roshan, speculation is rife that Deepika Padukone could well be the next face of the group which has operations spread across the Gulf countries, Singapore, US, UK and Malaysia.

 

The retailer has not renewed the contract of its regional brand ambassadors Suresh Gopi (Kerala), R Madhavan (Tamil Nadu), Allu Arjun (Andhra Pradesh) and Kiccha Sudeep (Karnataka), who have been promoting the company’s clear price tag policy. “We will have only one brand ambassador,” said Alukkas.

 

The company retails gold jewellery under brands such as Veda, Mayuri, Li’l Joy, Bakiamore and Florentina while its diamond jewellery brands include Eleganza, Bouquet, Perfekt and Magnus.

 

The choice of the new brand ambassador is likely to be aimed at facilitating the firm’s global expansion. It plans to invest Rs 1,500 crore next fiscal to set up 30 new stores — 20 in India and 10 in countries including the US, Sri Lanka and Europe to expand its retail footprint. After this expansion, Joyalukkas will have a total of 125 stores in India and abroad.

 

Malabar Gold & Diamonds has already felt an impact on its sales after it appointed Kareena Kapoor Khan as its brand ambassador.

 

Source:The Economic Times

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