No rest until the name is global

When 169 members of the Alukkas family climb aboard a flight from Cochin to Bangkok later this month for an annual vacation, all eyes will be fixed on Joy Alukkas. Curiosity will demand it.

In 1987, he moved to Dubai to help expand the retail jewellery business his father started in 1956. A year later, he opened a first store in Abu Dhabi, from where he expanded out.

But a family-run business of five sons and 10 daughters was then hanging precariously on trust, the absence of jealousy and an understanding of individual ambition. In 1998, that thread snapped.

A few family meetings later, his fate was sealed – Joy Alukkas would break away and start his own empire.

The Alukkas family didn't need to reveal what caused the rift. It was pretty obvious. Joy, their fourth youngest member, had a wild ambition for fame and success – a facet their traditional approach had no room for. In hindsight, it was probably a wise decision, because nothing will satiate his appetite for fame.

With 71 outlets across eight countries that turned more than Dh3 billion last year, it is possible to believe he would be content. Across the UAE, Kuwait, Bahrain, Oman, Qatar, Saudi Arabia and India, his name is known: It's right there, in lower case, on each of the country's gold and diamond jewellery stores – joyalukkas. Now it serves 10 million customers annually, offering a million different designs. It sells 80kg of gold each day.

But the name is not well known in the UK or USA. Yet. And the 53-year-old, who lives in Mankhool, Dubai, will not rest until they do. Both the countries boast large Indian communities and they must be given the option of walking into his store.

"That's why I opened a store in London, to get my name there. I know I have a great product offering and I want everyone to reach it," he said. "I won't rest until it's everywhere. It's my motivation. It's what takes me to work at 10am every day and brings me back at 7pm. It will ensure I will never retire."

His desire to enter every sizeable Indian community spread across the world has led him to consider raising public investment.

"I have done all I could as a one-man show. I have to go the initial public offering (IPO) route if I want to continue my expansion into the UK and US. Yes, it will be strange listening to a board of directors make decisions on my business, but that is the nature of things," he said.

To understand just how strong his desire for recognition is, consider this: Last February, Alukkas launched a 70,000 sq ft retail outlet in Chennai, India. It was the country's largest jewellery store, right in the heart of his family's empire. This came after 40 other stores spread across southern India had already made him a household name. Like Sir Richard Branson and Virgin Airlines, Alukkas' project was deemed unviable. Yet, he had to do it. He had to stamp his authority. He had to build a tourist attraction.

"In a single year the store has generated Rs400 crore [Dh291 million] and has become a tourist destination today. I knew it would work," he said, as he tinkered with the store's latest art work on his desktop.

"I must say, I am very happy with the Indian operation. It started only six years ago and today I have achieved a Rs1,500 crore turnover, which is a big achievement.

"There is no wholesale, no manufacturing, no distribution, only retail. Of course, because it's gold, which is so expensive, the numbers seem so big. But we're still doing well."

Amid an accusation of the Midas touch, he described how he launched an IT company, a hotel, a money exchange, a media agency and a hospital in 2002 – all in the lure of profits and prominence in varied sectors – but wound them up a few years later.

"Times were different back then," he said. "Every sector seemed rewarding. But I realised my mistake. Those are not our businesses to play with. Our core is gold and diamond jewellery and we must stick to it. Nothing will come from elsewhere," said Alukkas, who employs 3,000 people.

And it is not only professional and peer recognition he seeks. In 2003, he played a small, but pivotal role in the south Indian hit film Kasthuriman. Even the lead character, Sajan Joseph Alukkas, was inspired by his name. But with further digging, he shied away: "It was nothing…It was something that just fell in place and I didn't say no," he said and quickly turned his gaze to the latest commodity prices scrolling on his 42-inch flat-screen TV.

"I can tell you this much. I'm not a hardcore businessman. I love the creative side. I sing, enjoy movies and music, and oversee every creative the team comes up with. That's how the internet radio fell in place," he said.

"I have a few musicians who work for the company and they knew I love music. So they asked if I would be willing to fund an internet radio site that would stream music from south India.

"I had to do it. It's not a money-spinner but it appeases my creative side. It's something I will never shut down," said Alukkas, who has arranged for five musicians to travel with his family to Bangkok later this month.

Ahead of reaching his office in Gold Land, Diera, Alukkas follows a simple routine: Half an hour's exercise, breakfast with wife Jolly and children John, 23, Mary, 20, and Elsa, 15. Another half hour he spends in his garden before his Mercedes 500S whisks him away.

He wears no jewellery because he finds it "heavy". "It really bothers me. I can't wear a chain or rings and I even dislike wearing this watch. I find something as thin as this heavy and bothersome," he said.

He doesn't wear his wedding ring either: "Even that's too heavy."

As he ran through the agenda of his next matter of business – winding up his two-store money exchange business – I asked how many of his friends call him for money?

A burst of stunned laughter later, he replied: "None, I don't have those type of friends. All my friends are business people. But yes, it has happened in the past."


Lifestyle CV

Car

I drive a Mercedes 500S. I just bought a Bentley and am waiting for its delivery. I'm really excited about it.

Aircraft

I had a twin-engine aircraft three years ago, which crashed while on its way to pick me up from a town in south India. After the crash, I just didn't want another aircraft and to be honest, have not needed one. I'm happy flying with airlines because they offer much better connectivity today.

Travel

I only travel with my wife and kids. We usually take one-month trips and have been to New York, France, the UK, Australia, north India and Singapore. My favourite was Australia (pictured). I could spend months there. It is quiet, clean and the climate is great.

Collections

I don't collect anything, because I'm not passionate about things like watches. My wife must own about 200g of gold, that's all.

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