Joyalukkas, a leading global jewellery retailer, has signed a landmark Dh500 million working capital facility agreement with Emirates NBD to support its global expansion strategy across the UAE, UK, USA, Canada, and Australia.
The structured facility provides Joyalukkas with flexible, revolving access to capital, enabling the group to manage inventory, supplier payments, and peak trading periods with greater agility. Integrated with Emirates NBD’s advanced digital and trade platforms, the arrangement offers the jewellery brand real-time visibility and streamlined financial control.
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Joy Alukkas, chairman of Joyalukkas Group, described the agreement as a significant step in the company’s journey to expand internationally. “This facility marks a new benchmark in our sector and reflects our disciplined, visionary approach to organized retail. Emirates NBD has long been a trusted partner, and we thank them for their continued belief in our mission,” he said.
Ahmed Al Qassim, group head of Wholesale Banking at Emirates NBD, said the facility illustrates the bank’s ability to deliver customized, digital-first credit solutions tailored to the strategic needs of large enterprises. “This Dh500 million deal is designed to support Joyalukkas’ growth with a flexible capital framework, and reflects our commitment to fostering the ambitions of leading homegrown brands while contributing to the UAE’s broader economic progress,” he said.
With this latest facility, Joyalukkas is set to accelerate its global footprint, backed by a responsive financial ecosystem. The group currently serves over 10 million customers across 13 countries, supported by a team of more than 10,000 professionals.
Founded in 1987, Joyalukkas has grown into a global jewellery powerhouse rooted in craftsmanship, customer trust, and innovation. The partnership with Emirates NBD, the UAE’s leading banking group, reinforces the synergy between two iconic institutions focused on growth, resilience, and excellence.
issacjohn@khaleejtimes.comis Managing Editor at media and has over 45 years of experience in top-tier newspapers across UAE. A seasoned business writer and economic analyst, he brings unmatched insight into the geopolitics and geoeconomics shaping the Gulf and India.
