"We Got Funded!" Jewellery Retailer Joyalukkas Secures AED500 Million Deal with Emirates NBD The milestone agreement supports Joyalukkas' long-term expansion plans across the GCC and key international markets including the UK, USA, Canada, and Australia.
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Joyalukkas, an India-based jeweller with stores across the GCC, has just secured an AED500 million working capital facility from Emirates NBD.
The milestone agreement supports Joyalukkas' long-term expansion plans across the GCC and key international markets including the UK, USA, Canada, and Australia.
Since 1987, Joyalukkas Jewellery has brought together artistry and precise design across 13 countries and over 10 million customers and continues to strengthen its footprint across the globe, the AED500 million facility ensures timely access to inventory financing and liquidity to support peak trading periods and supplier commitments.
The deal is fully integrated with Emirates NBD's advanced digital and trade platforms, offering Joyalukkas real-time visibility and convenience across its financial operations.
Joy Alukkas, Chairman of Joyalukkas Group, commented, "This facility marks a significant milestone in our journey to expand Joyalukkas into key international markets including the UK, USA, Canada, and Australia. Emirates NBD has been a trusted partner who understands the scale, ambition and discipline behind our global retail strategy. Structured with flexibility and foresight, this deal sets a new benchmark in the jewellery industry and reflects our pioneering approach to organized retailing. I sincerely thank the Emirates NBD team for their continued support and belief in our vision."
Ahmed Al Qassim, Group Head of Wholesale Banking at Emirates NBD, added, "The provision of this working capital facility for Joyalukkas shows Emirates NBD's agility and capability to develop sector-specific transactions that cater to the exact needs of our expansive and diverse ecosystem of clients. Designed to meet Joyalukkas' strategic requirements, the deal emphasizes how Emirates NBD can deliver bespoke, digital-first, and customized credit solutions that empower leading companies and support both theirs, and the UAE's, economic growth. As a value-added product, this AED 500 million facility will help to provide the long-term support Joyalukkas needs to drive ahead with its international expansion plans, empowered by swift access to a framework of carefully structured and flexible capital."
