Joy Alukkas: India's Richest Jeweller

Joy Alukkas, Chairman and Managing Director of Joyalukkas Group, is now the richest jeweller in India, according to the Forbes” latest list of India”s 100 richest people. In FY2023, Joyalukkas recorded a turnover of Rs.14513 crore in India, with a net profit of Rs.899 crore. The company”s revenue and profit outlook for FY 2024 are Rs. 17500 crore and Rs.1100 crore respectively.

Joyalukkas currently has 160 showrooms across the world, of which 100 are in India. The company is considering expanding to 130 showrooms in India and opening 10 new overseas outlets in the next two years. Joyalukkas” Chennai showroom is the world”s largest jewellery retail outlet.

Joy Alukkas inherited his jewellery business from his father, Varghese Alukkas. However, Joy Alukkas expanded the business empire all over the world, revolutionizing the Indian traditional retail jewellery domain.

Joy Alukkas is a visionary leader in the jewellery industry. He is known for his lifelong learning attitude and his contrarian approach.

India”s jewellery market is expected to grow from USD 76.77 billion in 2023 to cross the USD 100 billion mark by 2027. Organized sector accounts for 38% of the Indian jewellery market, which is projected to rise to 47% by FY 2026.

Joyalukkas is a multinational jewellery group that has been certified by ISO. The organization started as a small jeweller in Thrissur and has grown into an entity with 160 showrooms across 11 countries and more than 9000 employees. Joyalukkas Group has become the trusted jewelry partner for 10 million customers worldwide and has created 1 million exclusive designs in a short period of time.