Joyalukkas Secures Major Capital for Global Expansion

Jewellery retailer Joyalukkas has successfully obtained a working capital of 500 million UAE dirham from Emirates NBD, the Dubai-based banking group, to drive its expansion plans. The secured funds aim to support the company's growth across the UAE and in key international markets including the UK, USA, Canada, and Australia.

The financial agreement offers the company a revolving credit facility, allowing Joyalukkas to manage cash flow efficiently. This ensures the retailer has timely access to inventory financing and liquidity, particularly during peak trading periods and for meeting supplier commitments.

Chairman Joy Alukkas remarked that this landmark deal is structured with flexibility and foresight, positioning it as a benchmark in the jewellery industry. The arrangement underscores Joyalukkas' pioneering approach to organized retailing and is expected to enhance the company's operational control and cost efficiency.

(With inputs from agencies.)