Joy Alukkas: From Humble Beginnings to Jewelry Empire
Joy Alukkas, India’s 50th richest person, has built a jewelry empire that spans across India and the Middle East. Starting from a small town in Kerala, Joy overcame obstacles and discrimination to become a titan in the global jewelry industry. Born into a family with a background in jewelry, Joy began his entrepreneurial journey in 1976 after completing his education. His father laid the foundation of Alukkas Jewellery in 1956, which eventually grew to 11 showrooms before the family split in 2000.
In 1987, Joy Alukkas expanded the family business to the Middle East by opening its first overseas store in Abu Dhabi. Since then, Joyalukkas has become a cornerstone of the gold market in West Asia, with 84 outlets in India and 43 overseas locations. Despite facing discrimination at a Rolls-Royce dealership in 2000, Joy acquired a Rolls-Royce Silver Seraph and later gave it away in a raffle, marking a symbolic victory over prejudice.
Supported by his wife and son, Joy Alukkas also ventures into money exchange outfits, malls, and real estate, showcasing his diverse entrepreneurial acumen. Recently, he added a Rolls-Royce Cullinan worth Rs 6 crore to his collection of luxury vehicles, highlighting his continued success and affluent lifestyle. With a net worth of $4.4 billion, Joy’s journey serves as a testament to perseverance and vision in the face of adversity, inspiring entrepreneurs worldwide.
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