Discover the remarkable life and achievements of Joy Alukkas, the school dropout who founded Joyalukkas, India's leading jewelry retail chain.
Meet Joy Alukkas, a name synonymous with opulent jewelry and exceptional success. Born into a family deeply rooted in the jewelry business, Joy Alukkas transformed a modest start into a dazzling empire, making him India's wealthiest jeweler. In the Forbes list of 100 richest Indians, Joy Alukkas ranks an impressive 50th, with an estimated net worth of $4.4 billion.
The story begins in 1956 when Joy Alukkas' father, Varghese Alukkas, took the visionary step of opening the first jewelry store in Kerala's vibrant city, Thrissur. Little did they know that this was the foundation of a dynasty that would dominate the Indian jewelry landscape.
However, Joy Alukkas' journey to the pinnacle of success was far from conventional. A school dropout, he set his sights on the Middle East to expand the family's jewelry business. In 1987, he opened the family's first overseas store in Abu Dhabi, marking the beginning of his entrepreneurial adventure. Breaking away from the family legacy, he founded Joyalukkas, a brand that swiftly became synonymous with trust, quality, and exquisite craftsmanship.
Today, Joyalukkas stands as a multinational jewelry retail giant, boasting 100 outlets across India and 60 overseas, supported by a dedicated team of over 9000 employees. Notably, the group proudly owns the world's largest gold jewelry retail outlet in Chennai.
In the fiscal year 2023, Joyalukkas reported a staggering turnover of ₹14,513 crore, with a net profit of ₹899 crore in India. Fueled by this success, Joy Alukkas is strategically expanding the brand's presence in North India, aiming to achieve a total of 130 showrooms across the country.
Continuing the legacy, Joy Alukkas' wife, Jolly Joy, takes care of the Joyalukkas Foundation, where they do kind things to help others. Their son, John Paul, looks after the jewelry business internationally, keeping the family's tradition alive.
Even though big names like Mukesh Ambani and Gautam Adani top the Forbes list, Joy Alukkas has shown that working hard and having big dreams can make you very successful. Starting from not finishing school, he became India's richest jeweler. His story inspires many people who want to succeed in business. It shows that if you believe in yourself and work hard, you can achieve amazing things.