Early Life
Joy Alukkas was born on October 29, 1956, in Thrissur, Kerala, India. He is the son of Varghese Alukkas, who started a jewelry business in Thrissur in 1956. Joy Alukkas grew up in a large family and was one of fifteen siblings.
Rise to Success
Alukkas began his career in the jewelry industry in 1987, opening the first overseas store in Abu Dhabi. He later launched his own brand, Joyalukkas Jewellery, in 2001. The company has grown to over 100 outlets in India and 60 overseas. Joyalukkas has expanded into other ventures, including money exchange, malls, and real estate.
Key Business Strategies
Joy Alukkas has employed several key strategies in building his business. These include multiple store retail, organized retailing operations, and large format stores. He focused on offering a wide range of designs and quality, which helped the brand to earn the trust of customers across multiple nationalities. The company expanded its footprint significantly, with a focus on markets in the Middle East, the USA, and the UK. Joyalukkas has also focused on a strong online presence and is planning to launch an online-only brand.
Philanthropy
The Joyalukkas Foundation, headed by Joy's wife, Jolly Joy, has been involved in various CSR initiatives. The foundation supports various causes, including education, healthcare, and providing assistance to flood victims.
