DUBAI, JULY 2025 – Joyalukkas, one of the world’s largest jewellery retailers, has announced a landmark AED 500 million working capital facility provision through Emirates NBD, a leading banking group in the MENAT region. This milestone agreement supports Joyalukkas’ long-term expansion plans across the GCC and key international markets including the UK, USA, Canada, and Australia.
Structured to provide Joyalukkas with seamless and flexible access to capital, the bespoke deal highlights the retailer’s pioneering approach to global retail growth and underscores its longstanding relationship with Emirates NBD. The facility offers working capital on a revolving basis, enabling Joyalukkas to draw and repay funds as needed, thereby enhancing cost-efficiency and operational control.
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 AED 500 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.
The agreement also signifies a deepening of the trust and strategic alignment between Joyalukkas and Emirates NBD. It reflects the jeweller’s disciplined and forward-looking business model and further empowers its status as a global force in organized jewellery retail.
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.”
With this facility, Joyalukkas is well-positioned to continue growing and setting global standards in jewellery retailing, backed by a robust and responsive financial framework from Emirates NBD.
Anith Daniel – Group Head of Transactional Banking Services, Jaime Jos – Senior Relationship Manager, Corporate and Institutional Banking Group, Commodities- Precious metals and Diamonds, Ahmed Al Qassim – Group Head, Wholesale Banking Group, Dr. Joy Alukkas – Chairman of Joyalukkas Group, John Paul Alukkas – Managing Director of Joyalukkas International Operations and Thomas Scaria – General Manager Finance, Joyalukkas International Operations.
