Joy Alukkas, the Chairman and Managing Director of Joyalukkas Group was born into a family with a rich history in the jewellery business, Joy Alukkas' journey began in Thrissur, Kerala. His father, Varghese Alukkas, laid the foundation for what would become a global empire. Starting with a single store in Kerala, the family business expanded under the guidance of Varghese’s sons, including Joy. Moving into the Gulf markets, Joy Alukkas laid the groundwork for his monumental success.
In 2001, he founded Joy Alukkas Jewellery, which quickly gained prominence with its elegant offerings. By 2007, he had expanded his ventures to include a Gold & Diamond showroom and a "Diamond Cave" in Chennai. His business acumen led to partnerships with prestigious brands like Forevermark and diversified into various sectors including real estate and lifestyle through Mall of Joy and Jolly Silks.
Despite his impressive portfolio and philanthropy, including significant contributions to disaster relief and education, Joy Alukkas faced legal and financial controversies. In 2018 and 2023, the Income Tax Department and Enforcement Directorate implicated his group in financial discrepancies, including alleged black money transfers.
In 2000, Alukkas, already an ambitious entrepreneur, walked into a Rolls-Royce showroom in Dubai, eager to purchase one of their iconic cars. However, the experience turned sour when a salesman dismissed him with a snide remark, suggesting he visit a Mitsubishi showroom instead. This incident left a deep scar on the businessman.
However, rather than letting the slight go unanswered, Alukkas decided to take a stand. He purchased the Rolls Royce model he had initially sought, but his response didn’t end there. Alukkas, who owns an impressive collection of luxury vehicles including several Rolls Royces like the Cullinan, arranged a fleet of Rolls Royce cars.
Alukkas’s story adds a modern twist to this legacy, illustrating how even the smallest acts of disrespect can ignite a grand response from those who refuse to be underestimated. Joy Alukkas, a key figure in the jewellery industry with a global footprint and a net worth of Rs 369174 crore.
