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 UAE 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.

As Joyalukkas 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.

About Joyalukkas:

Joyalukkas Group is a global conglomerate that continues to be rooted in trust, craft and connection. Since 1987, Joyalukkas Jewellery has brought together artistry and precise design across 13 countries and over 10 million customers. Every piece that is created carries an intention that is designed for real memories, meaningful moments and future legacies. With a team of over 10,000 dedicated professionals, Joyalukkas remains committed to delivering thoughtful service and timeless collections, while adapting to the evolving needs of every market the company serves. For more information, visit https://www.joyalukkas.com/

About Emirates NBD

Emirates NBD (DFM: Emirates NBD) is a leading banking group in the MENAT (Middle East, North Africa and Türkiye) region, operating across 13 countries and serving over 9 million active customers. As of 31st March 2025, the Group reported total assets of AED 1 trillion (approximately USD 272 billion) and maintains a robust network of 839 branches and 4,539 ATMs/SDMs. With operations spanning the UAE, Egypt, India, Türkiye, Saudi Arabia, Singapore, the UK, Austria, Germany, Russiaand Bahrain, along with representative offices in China and Indonesia, Emirates NBD is the UAE’s top financial services brand, valued at USD 4.54 billion. The Group offers a comprehensive suite of services including retail, corporate and institutional banking, Islamic banking, investment and private banking, asset management, global markets and treasury, and brokerage. Emirates NBD is a digital banking leader, with 97% of financial transactions and requests processed outside branches. It also operates Liv, a lifestyle digital bank with nearly half a million users and the fastest growth rate in the region. Committed to sustainable development, Emirates NBD actively supports national initiatives like financial wellness, inclusion of people of determination, the UAE’s Year of Sustainability, the Dubai Can movement to reduce single-use plastics and was the Principal Banking Partner of COP28.

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 andThomas Scaria– General Manager Finance, Joyalukkas International Operations.