In order to support its worldwide development plan in the UAE, UK, USA, Canada, and Australia, Joyalukkas, a prominent international jewelry store, has inked a historic Dh500 million working capital facility arrangement with Emirates NBD.
Joyalukkas has flexible, revolving access to cash thanks to the structured facility, which gives the business more flexibility in managing peak trade periods, supplier payments, and inventories. The agreement gives the jewelry company real-time visibility and simplified financial control by integrating with Emirates NBD’s cutting-edge digital and trading systems.
The deal is a significant step in the company’s international expansion, according to Joy Alukkas, chairman of the Joyalukkas Group. “This facility demonstrates our methodical, forward-thinking approach to organized retail and sets a new standard in our industry. We are grateful to Emirates NBD for their ongoing support of our cause and for being a reliable partner for so long,” he stated.
The facility demonstrates the bank’s capacity to provide specialized, digital-first credit solutions that are suited to the strategic requirements of major corporations, according to Ahmed Al Qassim, group head of Wholesale Banking at Emirates NBD. “This Dh500 million deal reflects our commitment to fostering the ambition of Joyalukkas and is intended to support its growth with a flexible capital framework.
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