Joy Alukkas

Joy Alukkas (born 29 October 1956) is an Indian businessman from Kerala and the founder of a distinguished conglomerate with a notable presence in Asia, U.S. and Europe. He is the chairman and managing director of Joyalukkas Jewellery, founded in 1987, with over 160 jewellery showrooms spread across 11 countries. After making a prominent mark in the jewellery industry, Joy Alukkas expanded into exchange, real estate, fashion and silk sectors. His family is also considered as 3rd wealthiest and powerful family in South India.

Joy Alukkas
Joy Alukkas
Born
Alukkas Varghese Joy

(1956-10-29) 29 October 1956
Thrissur City, Kerala, India
Net worth US$2 Billion (2020)[1]
TitleChairman and Managing Director of Joyalukkas Jewellery
Spouse(s)
Jolly Joy
​
(m. 1984)​
Children3

In 2018, Forbes Middle East ranked Joy Alukkas among the Top Indian Leaders in the region.[2] He received the Dubai Quality Appreciation Award from Sheikh Mohammad Bin Rashid Al Maktoum, Vice-President and Prime Minister of the UAE and Ruler of Dubai and the ‘Business Excellence Award’ from Sheikh Nahyan Bin Mubarak Al Nahyan, UAE Minister of Culture, Youth and Social Development.[3] As of 2018, his total net worth was estimated at US$2 billion by Forbes.[4]

Early life

Joy Alukkas was born in Thrissur, Kerala, on 29 October 1956. His father, Varghese Alukkas was a renowned jeweller and started his first jewellery showroom in 1956.[5] Following in his father's footsteps, Joy Alukkas opened his inaugural jewellery showroom in Abu Dhabi, UAE, in 1987, and subsequent branches in Dubai, Sharjah, Al Ain and Ras Al-Khaimah, under the group Alukkas Jewellery. In 2001, the group bifurcated from the parent company and Joyalukkas Jewellery came into existence. The group has two headquarters – one in Thrissur, Kerala and one in Dubai, UAE.

Career

Following the establishment of his first jewellery showroom in 1987, Joy Alukkas deftly expanded his company into a chain of more than 160 jewellery showrooms spread across 11 countries around the world including USA, UK, UAE, India, Singapore, Malaysia, Qatar, Oman, Bahrain, Kuwait and the Saudi Arabia, serving over 10 million customers.

In 2007, he opened the world's largest gold & diamond jewellery showroom,[6] and the first Diamond Cave, in Chennai, India.[7]

Joyalukkas Jewellery has a team of more than 9000 employees and Joy Alukkas has implemented stringent training programs for his showroom staff to ensure that they clearly understand the products sold and meet every customer's expectations.

Other businesses spearheaded by Joy Alukkas include Mall of Joy, a shopping retail destination, Jolly Silks, a silk fashion label, John Paul Watches, a watch retailer, Joyalukkas Exchange, a money exchange platform, and Joyalukkas Lifestyle Developers, a real estate company.[6]

Personal life

In 1984, Joy Alukkas married Jolly Joy, who currently heads Joyalukkas Foundation; the CSR division of the company. Together, they have three children: John Paul, Mary Antony, and Elsa Joy Alukkas, who are actively involved in the business.[5]

John Paul Joy Alukkas is the managing director of Joyalukkas Jewellery International Operations. He is married to Sonia John Paul, director of the group.

His daughter Mary Antony is married to Antony Jos. The couple resides in the UAE and oversees the Joyalukkas Money Exchange business. Elsa Joy Alukkas is the director of Mall of Joy and Jolly Silks.

Joy Alukkas has four grandchildren - Michelle, Thea Rose, Hazel and Julia.

Philanthropy

Joyalukkas Jewellery is involved in several CSR initiatives through their philanthropy arm Joyalukkas Foundation. The arm is spearheaded by Jolly Joy, the wife of Joy Alukkas.

Initiatives such as the Blood Donor's Forum hold donation drives for employees in association with leading hospitals, whereas the Joy 4 Earth program undertakes several environmental projects. Under the My 0.50 drive scheme, every employee donates 0.50 fils of their salary each day towards a cause, which Joy Alukkas matches on an equal scale.[8] Think Pink, an initiative to increase awareness on breast cancer, is looked after by John Paul and Sonia Paul.[9]

In May 2018, the group donated Rs. 20 million as a relief fund for victims of the Cyclone Ockhi.[10] After the devastating Kerala Floods in September 2018, the Joyalukkas Foundation announced that it would build 250 houses for those who have lost their homes.[11]

Awards and Accolades
  • First jewellery chain to be awarded both the ISO 9001 and ISO 14001 certification. (2016)[12]
  • Retail magazine Retail ME picked Joyalukkas as the Best Retailer of the Year, Middle East.[13]
  • CSR initiatives have won Joyalukkas accolades at the Best Practice Conference for “My0.50” initiative. (2009)[8]
  • Best T.V Campaign and Best 360 Degree Marketing Award by Retail Jeweller India Awards. (2009 (2016)[8]
  • Best Overseas Retailer (2008)
  • Recognised by Sheikh Mohammed Bin Rashid Al Maktoum, Vice President and Prime Minister of UAE and Ruler of Dubai, under the Dubai Quality Awards program for creating and maintaining international standards across all business operations departments.
  • Won the Superbrand status 8 years in a row (2010, 2011, 2012, 2103, 2014, 2015, 2016 and 2017).[14]
  • Mr. Joy Alukkas received ‘The Business Excellence Award 2016’ from Sheikh Nahyan Bin Mubarak Al Nahyan, UAE Minister of Culture, Youth and Social Development, organized by Indian Business Professionals Council (IBPC). (2016) [15]
  • Received the ‘Best Performance Brand Award 2015’ from Sheikh Mansoor Bin Mohammed Bin Rashid Al Maktoum, under Dubai Service Excellence Scheme, Department of Economic Development, Government of Dubai. (2015)[16]
  • Won Best Outlet Award 2015 under Dubai Service Excellence Scheme, Department of Economic Development, Government of Dubai. (2015)[17]
  • Won the Consumers Choice Award. (2008)
  • Won the NRI Retailer Award of the Year.
  • Won the Middle East Retailer of the Year Award.
  • Won the Asian Achiever of the Year 2011 in the UK. (2011)[18]
  • Joyalukkas Jewellery in the Limca Book of World Records for the largest jewelry showroom in the world in Chennai, India. (2011)[19]
  • Listed in Forbes Magazine in both their World's Billionaire's list as well as their India's Rich list.[20][21] (2018)
  • Recognised as one of the top 100 business leaders in the UAE by Arabian Business Magazine.[22] (2012)
  • Awarded the ‘Best Chain of Retail Stores – International’ at the 1st India Bullion and Jewellery Awards. (2013).
  • Joyalukkas Jewellery has won the World's Largest Retailer Awards from GJTCI.
  • Joy Alukkas recognized and awarded as NRI Businessman of the year by Dhanam Business Excellence Summit Award. (2015)
  • Joy Alukkas recognized and awarded for his special contribution to Gems and Jewellery Industry at Retail Jeweller Award. (2014)
  • Best Indian Diamond Jewellery of the Year by Retail Jeweller Middle East innovation Awards (2019) [23]

References
  1. "Joy Alukkas". Forbes.
  2. "Revealed: Top Indian business leaders in Arab world". gulfnews.com. Retrieved 27 May 2019.
  3. "Joy Alukkas, the man with the Midas touch: Indian jewellery magnate's rise to fame in the UAE". gulfnews.com. Retrieved 9 June 2019.
  4. "Joy Alukkas". Forbes. Retrieved 27 May 2019.
  5. "Joy Alukkas: The Midas touch". Forbes India. Retrieved 27 May 2019.
  6. Govardan, D. (31 January 2007). "World's largest gold showroom to come up in Chennai". The Economic Times. Retrieved 27 May 2019.
  7. "'Diamond Cave' at Joyalukkas outlet. - Free Online Library". www.thefreelibrary.com. Retrieved 27 May 2019.
  8. "Personality Plus The Golden Touch". www.indianjeweller.in. Retrieved 27 May 2019.
  9. "'Think Pink' campaign kicks off". gulfnews.com. Retrieved 27 May 2019.
  10. Report, Staff. "UAE-based Joyalukkas Group donates Rs20m to Ockhi relief funds". Khaleej Times. Retrieved 27 May 2019.
  11. "Joyalukkas Group to build 250 houses for Kerala flood victims". gulfnews.com. Retrieved 27 May 2019.
  12. Report, Staff. "Joyalukkas honoured". Khaleej Times. Retrieved 27 May 2019.
  13. "Joyalukkas-world's favorite jeweller honored with the 'Business Excellence' in UK". godubai.com. Retrieved 27 May 2019.
  14. "Joyalukkas gets Superbrand status again in UAE". The New Indian Express. Retrieved 27 May 2019.
  15. "Joy Alukkas receives 'Business Excellence Award 2016'". Emirates Business. Retrieved 27 May 2019.
  16. "Joyalukkas honored with the 'Best Service Performance Brand'". Saudigazette. 7 May 2016. Retrieved 27 May 2019.
  17. Newspaper, Muscat Daily. "Joyalukkas honoured with best performance outlet award - Oman". Muscat Daily News. Retrieved 27 May 2019.
  18. "Mr. Joy Alukkas honoured as Asian Achiever of the year 2011". DiamondWorld.net. Retrieved 27 May 2019.
  19. "Joyalukkas Chennai showroom in Limca Book of Records!". www.indianjeweller.in. Retrieved 27 May 2019.
  20. Abbas, Waheed. "14 billionaires in UAE own Dh171 billion in wealth". Khaleej Times. Retrieved 27 May 2019.
  21. John, Issac. "12 from UAE in Forbes world's super rich list". Khaleej Times. Retrieved 27 May 2019.
  22. "Indian.100.2012-87.Joy Alukkas". ArabianBusiness.com. Retrieved 27 May 2019.
  23. "Joyalukkas gets best Indian Diamond Jewellery of the Year award | THE DAILY TRIBUNE | KINGDOM OF BAHRAIN". DT News. Retrieved 18 November 2019.
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