Book excerpt | "Resolute entrepreneur" Joy Alukkas rode out the Gulf war, set a goal of 100-plus showrooms early on

Joy Alukkas set up his first jewellery showroom in Abu Dhabi in 1987. (Photo from ‘God’s Own Entrepreneurs: The Success Secrets of 21 Entrepreneurs. from Kerala’ by R. Roshan)

A long time ago, across the Arabian Sea, there was a land with golden sand and several ancient mysteries. We now call that land the Emirates. From the final decades of the last millennium, Malayalis called this land their home away from home. Enter any Gulf nation, and you are sure to find a Malayali. One such Malayali took an entrepreneurial route and established himself there in 1987 in the gold and diamond jewellery business. It is Joy Alukkas, the businessman with a heart of gold.

Born as the fourth son of renowned jeweller Varghese Alukkas, Joy grew up with a passion to be an entrepreneur. When Joy was born in 1956, his father set up a small gold & jewellery retail store in Thrissur. While studying, Joy learned the ropes of the business from his father as well and was ready to spread his wings at a very young age. During the late 80s, the Gulf was the rage in every Malayali household. Joy’s interest in the Middle East picked up once customers from the Gulf started coming to his father’s store for their wedding jewellery purchases.

Joy was eager to see what awaited him in the land of black gold and flew to Dubai in 1986. He visited many gold shops and understood the nature of trade there. While most of the goldsmiths were Gujaratis, the Malayalis took the lead in sales and marketing. The best part? Most of the customers were from God’s Own Country, Kerala, as it was a fad for them to buy gold from the Gulf countries. It did not take long for young Joy to put two and two together to realize that there was a goldmine for him there to explore. He thought if Malayalis were the big customers in the Gulf, it absolutely made sense for a businessman from Kerala to commence operations to serve the Malayalis.

Upon his return, he spoke to his father about opening a showroom in the UAE. However, he did not immediately get a nod from his family as the Iran-Iraq war was at its peak. They were worried about his safety. But Joy did not give up and patiently explained to his father about the potential of the jewellery business in the Gulf. Eventually, his father gave in, and Joy Alukkas opened his first jewellery showroom in Abu Dhabi in 1987.

Half a year later, he opened his second showroom in Dubai. However, like many other businesses he also had to shut shop in 1990 due to the Gulf war but resumed his business immediately after the war in the year 1991. Apart from making pure gold available, he was a pioneer in launching many unique campaigns, including grand prize schemes to excite people to purchase gold & diamond jewellery. Joy expanded his jewellery chain in the UAE on his own, but it was still run as a part of the family business, i.e., Alukkas International.

He kept expanding his showrooms in the Gulf and soon took over the operations as his own in the coming years. In 2002, Joy opened his first showroom in India at Kottayam, Kerala. Later, he returned to Dubai with plans to create a global brand under his own name. He renamed his business as ‘Joyalukkas’.

Joy had set his goal to expand his empire across ten countries and establish over 100 showrooms by 2010. Joyalukkas Jewellery, today, is a 140 showroom retail chain spread across 11 countries - 85 showrooms in India and the rest across the Middle East, USA, United Kingdom, Singapore and Malaysia. The group’s India headquarters is in Thrissur, Kerala, and the headquarters for the international operations is in Dubai, UAE.

Joy Alukkas believes that one can achieve great things by setting a goal. “If we had not set big goals, we would not be where we are today,” he says as he sits in his home ‘Joy Alukkas Mansion' in Thrissur Sobha City.

From the start, Joy focused on bringing professionalism and having a network of showrooms. Hence, he could surpass the other jewellery chains. He encouraged the customers to insist on bills to bring a culture of transparency and trust.

Joy Alukkas has always been at the forefront of providing quality gold in unique designs while setting new trends. Valuable offers, facilities and prompt customer service were also ensured. Joylukkas became the first retail jewellery chain to achieve ISO 9001, ISO 14001 certifications and entered the LIMCA Book of World Records by opening the world’s largest jewellery showroom in Chennai.

Joy Alukkas did not have a walkover in India. Having his showrooms in towns without a jewellery-buying culture, thefts and fires came in his way of smooth business handling. But the resolute entrepreneur battled everything with a clear goal and vision.