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Leading jewellery retailer Joyalukkas has secured AED 500 million (approximately ₹1,187.5 crore) in working capital financing from Emirates NBD, a prominent banking group based in Dubai. The funding is set to accelerate the company’s expansion strategy across the UAE and key international markets, including the UK, USA, Canada, and Australia.
The deal, structured as a revolving credit facility, will provide Joyalukkas with flexible access to funds—enabling efficient inventory financing, improved liquidity during peak trading periods, and strengthened supplier partnerships.
“This facility ensures we remain agile and responsive to market demands,” the company said in an official statement. “It enhances cost-efficiency while giving us better operational control.”
Joy Alukkas, Chairman of Joyalukkas Group, called the agreement a landmark move for the jewellery industry. “Structured with flexibility and foresight, this deal sets a new benchmark in jewellery retailing and underscores our forward-thinking approach,” he said.
The funding is expected to bolster Joyalukkas' position as a global player in the organised jewellery retail sector.
(Source: PTI)
