 | This article contains promotional content .(February 2021) |
Joy Alukkas | |
|---|---|
 | |
| Born | Alukkas Varghese Joy 29 October 1956 |
| Title | Chairman of Joyalukkas Group |
| Spouse | Jolly Joy |
| Children | 3 |
| Website | www |
Joy Alukkas is an Indian businessman from Kerala. He is the chairman and managing director of Joyalukkas Group. According to a 2023 Forbes report, he has a net worth of $4.4 billion. [1] [2]
His father, Varghese Alukkas "A. J. Varghese" of the Alukkas family started the jewellery business by setting a store in Thrissur, Kerala, India. [3] Later Varghese shared his business among his sons - Jos, Francis, Joy Alukkas and Anto Alukkas.
Joy Alukkas is concentrated in overseas business and started trading in gulf countries. Joy Alukkas' original name according to Malayali naming conventions was A. V. Joy.
In 2001, Alukkas founded Joy Alukkas Jewellery. The group is based in Thrissur, Kerala and Dubai. [4]
In 2007, he opened a Gold & Diamond jewellery showroom, [5] and a "Diamond Cave" in Chennai, India. [6]
In 2012, Joyalukkas was authorized to sell Forevermark branded diamonds from De Beers. [7]
Other businesses headed by Joy Alukkas include Mall of Joy, a shopping retail destination, Jolly Silks, a silk fashion label, Joyalukkas Exchange, a money exchange platform, and Joyalukkas Lifestyle Developers, a real estate company. [5] Jolly Silks was named after his wife, Jolly Joy.
In May 2018, Joy Alukkas contributed to relief fund for victims of the Cyclone Ockhi. [8] After the Kerala Floods in September 2018, the Joyalukkas Foundation announced that it would build 250 houses for those who have lost their homes. [9]
350 orphaned students were awarded the 'Joy of Hope' scholarship by Joyalukkas Foundation securing educational support for five years. Supported by a contribution from Alukkas. Plans for a Thrissur based old age home and palliative care center were also announced. [10]
In 2018, Income Tax Department Kochi carried out an IT raid on over 130 showrooms and premises related to the group, and found tax evasion and unaccounted sales of gold jewellery to the tune of ₹500 crore. [11]
In February 2023, the Income Tax Department confiscated assets worth ₹305 crore of Joy Alukkas group as part of the raid on alleged black money transfers. [12] [13] [14]
ED has successfully resolved the case of financial transfer via Hawala Channels from India to Dubai, Joy Alukkas, the Chairman of Joy Alukkas India Pvt Ltd, had assets valued at ₹305.84 crore attached by the Directorate of Enforcement in February 2023. [15]
RadioJoyAlukkas.com is an internet radio website in Malayalam language, operated by the Joy Alukkas group. The website started functioning from November 6, 2007.
Yusuff Ali Musaliam Veettil Abdul Kader, popularly known as M. A. Yusuff Ali, is an Indian businessman and billionaire. He is the chairman and managing director of LuLu Group International, which owns the LuLu Hypermarket chain worldwide and LuLu International Shopping Mall. With an annual turnover of US$8.4 billion, LuLu Group International employs the largest number of Indian diaspora. According to Forbes Middle East, Yusuff Ali was ranked No. 1 in Top 100 Indian business owners in the Arab World 2018. As per Forbes billionaires list published in October 2023, he was ranked 27th richest Indian with net worth of US$6.9 billion.
Bavaguthu Raghuram Shetty, commonly known as B.R. Shetty, is an Indian-born businessman and former-billionaire, the founder and acquirer of a number of companies based in the United Arab Emirates, including Abu Dhabi–based NMC Health, Neopharma, BRS Ventures, and Finablr.
The city of Thrissur, the cultural capital of Kerala, is also a major commercial and business hub of South India. It is said to be the heartland of Kerala's business acumen and home to most every leading Malayali entrepreneurs. The city which is famous for Bullion, Banking and its Business acumen, is the darling of investors in Kerala. Thrissur is also referred as the Golden city of India. It manufactures 70% of plain gold jewellery in Kerala per day. According to a survey, Thrissur city has been placed on 7th among the ten cities in India to reside. According to Registrar of Companies, the period from 1 January to 31 March 2010, 87 companies were registered in Thrissur and stood second in Kerala after Cochin. Thrissur's traditional strength lies in best entrepreneurial and financial capabilities.
Jos Alukkas Jewellery is a jewellery brand based in Thrissur, Kerala, India. Founded in 1964, the company has expanded from a family-owned business to a significant participant in the gold, diamond, and platinum jewellery market throughout India.
The Gold business in Thrissur is a major revenue earner for the economy of Kerala, India. About 500 kg of gold jewellery is manufactured every year in state, the majority of which is done in Thrissur, making the city a hub of gold business and gold jewellery manufacturing in Kerala and South India. All major jewellery groups in Kerala have manufacturing facility and showrooms in Thrissur.
Pure Gold Jewellers is a jewellery retailer with 120 stores across the Middle East, in the UAE, Oman, Kuwait, Qatar, Jordan, KSA, Bahrain, and Sri Lanka. The company also has 200 stores in India. The company's stores sell a variety of jewellery in diamonds, gold, platinum, Murano glass and precious stones. Founded by Indian expatriate Firoz Merchant in 1989, the first Pure Gold Jewellers store was established in Dubai. Merchant has focused on gradual expansion of the brand's retail network. The company entered the Indian market in 2010. It has plans to open 200 stores in the country in the next few years. Pure Gold are the sole concessionaire for retail of gold and diamond jewellery at Abu Dhabi Duty Free, Kuwait Duty Free and Muscat Duty Free. Pure Gold Jewellers employs more than 1000 retail staff across the globe and also owns two jewellery manufacturing factories in India and in China, employing over 1,500 workers.
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M. M. Ramachandran, better known as Atlas Ramachandran, was an Indian jeweller, film producer and actor. He was the chairman of Atlas Jewellery and is known for the tagline of his jewellery, "Janakodikalude Vishwastha Sthapanam". He had produced and distributed films under the banner "Chandrakanth Films". Vaisali (1988) and Sukrutham (1994) are the major films that he has produced. He has also acted in a few movies notably in Subhadram (2007) in a lead role.
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