Meet man, a school dropout who became India’s richest jeweller, has net worth of Rs 36700 crore, he owns…

Self-made success stories are most extraordinary and inspiring. One such motivational success story is of Joy Alukkas, the chairman and managing director of the jewellery retail chain Joyalukkas.

As per the Forbes list of the 100 richest Indians, Joy Alukkasbeco became the richest jeweller in India with a rank 50, his estimated net worth is $4.4 billion.

He climbed 19 positions, moving from 69th on the previous list to 50th on the most recent one. 

Alukkas is serving as chairperson of a multi-national jewellery retail chain, Joyalukkas Group. His father, Varghese Alukkas, started the first jewellery store in Kerala’s Thrissur, in 1956. In 2007, he founded the world's largest gold & diamond jewellery showroom and a "Diamond Cave" in Chennai. 

Joy had dropped out of school and moved to the Middle East in 1987 to establish the family’s first international store in Abu Dhabi. Later, he go separated from family to start his own company, Joyalukkas, which has over 9000 people and 100 locations across India and 60 abroad. In Chennai, he also owns the largest gold jewellery retail store in the world.

As per a press release of the jewellery company, Joyalukkas made a turnover of Rs 14,513 crore and a net profit of Rs 899 crore in FY2023. 

He now aspires to expand the showrooms in India to 130, and to grow its presence in North India.

Meanwhile, Alukka's wife Jolly Joy is the managing director of the Joyalukkas Foundation, and their son John Paul is the managing director of the global jewellery industry.