Joyalukkas secures AED500m capital boost from Emirates NBD for global expansion
The agreement is designed to provide Joyalukkas with streamlined and flexible access to capital. It allows the company to draw and repay funds on a revolving basis, improving cost-efficiency and providing greater control over its financial operations. The structure of the deal reflects a deep level of strategic alignment between Joyalukkas and Emirates NBD and builds upon their longstanding partnership.
Joyalukkas secures major financial boost
Founded in 1987, Joyalukkas has built a loyal following of over 10 million customers across 13 countries. Known for combining traditional craftsmanship with contemporary design, the brand has become a trusted name in the world of gold jewellers. As the company continues to broaden its global footprint, the AED 500 million working capital facility ensures it has timely access to inventory financing and liquidity, particularly during peak trading seasons and in meeting supplier commitments.
A key feature of the agreement is its integration with Emirates NBD's advanced digital and trade platforms. This provides Joyalukkas with real-time visibility and operational convenience, streamlining processes and enhancing the efficiency of day-to-day financial management.
Joy Alukkas, chairman of Joyalukkas Group, described the facility as a critical enabler for the company's international growth strategy. '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,' said Alukkas.
'Structured with flexibility and foresight, this deal sets a new benchmark in the jewellery industry and reflects our pioneering approach to organised 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, emphasised the tailored nature of the agreement and the bank's commitment to sector-specific financing. '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,' he explained.
'Designed to meet Joyalukkas' strategic requirements, the deal emphasises how Emirates NBD can deliver bespoke, digital-first, and customised credit solutions that empower leading companies and support both theirs and the UAE's economic growth.'
He further noted that the facility is not just a financial product, but a value-added partnership designed to fuel long-term progress. '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 major financial partnership in place, Joyalukkas is poised to solidify its position as a global leader in the jewellery retail space. Backed by Emirates NBD's robust and responsive financial ecosystem, the retailer is well-equipped to set new benchmarks in craftsmanship, customer experience, and organised retailing worldwide.
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Al Etihad
2 hours ago
- Al Etihad
Etihad Rail lays tracks for economic growth, new investment opportunities
6 Aug 2025 00:03 MAYS IBRAHIM (ABU DHABI)With its freight network now fully operational across all seven emirates and high-speed passenger service on track for launch by 2026, experts say Etihad Rail network is set to accelerate the UAE's post-oil growth and unlock fresh investment opportunities. Etihad Rail's freight network, launched in 2023, spans 900km from the Saudi border at Ghuweifat to the eastern port city of connects key industrial and maritime nodes including Khalifa Port in Abu Dhabi, Jebel Ali in Dubai, and the Port of Fujairah, enabling a faster and more sustainable movement of goods across the Etihad Rail passenger service will launch in 2026, linking 11 cities and regions across the UAE, including major hubs like Abu Dhabi, Dubai, Sharjah, and Fujairah. Trains will travel up to 200kmph, with a dedicated high-speed line between Abu Dhabi and Dubai expected to cut journey times to just 30 UAE's transport and storage sector has played a key role in driving overall GDP growth in recent years, expanding by 9.6% in the past year, according to Daniel Richards, MENA Economist at Emirates NBD. 'On the back of this growth, it accounted for 5.2% of total output last year, up from 4.2% in 2021. Much of this is on the back of aviation but all transport modes have contributed, and the launch of the completed rail service will provide another major boost to the sector. It will also help facilitate growth in the broader economy,' he told Aletihad . The enhanced freight transport capabilities offered by the railway will also bolster the UAE's long-term industrial development goals, including Operation 300bn, which aims to increase the industrial sector's economic contribution to Dh300 billion by 2031, Richards added. 'Phase one of the railway has already contributed to the expansion of ADNOC's operations at the Shah sour gas field. An effective rail network, well connected to the country's bulk cargo shipping facilities and coastal processing plants, will support the ongoing growth in the heavy industry. The intermodal connectivity can also support the planned development of domestic manufacturing,' he said. Continued investment in the UAE's infrastructure sector will reinforce its appeal as a prime destination for investment and business, added Richards.'The fully launched rail network should encourage greater private and foreign investment in the country. It also adds to the attractiveness of the existing warehousing facilities and transshipment ports like Jebel Ali,' he said. The UAE currently outperforms its GCC neighbours on nearly all transport metrics measured by the World Economic Forum, according to Richards. 'As the sector develops at a faster rate, the nascent rail network will also help bolster the UAE's position relative to its regional peers as regional competition in some areas intensifies,' he said. Real Estate Ripple Effect Investors are already eyeing the real estate potential emerging around the railway. Martin Kocher, a partner at Abu Dhabi-based Gravity Power Management Consultancies, noted that the improved connectivity will significantly influence property appreciation and stimulate investor interest, especially in areas that have historically been underserved or considered remote. 'Multiple studies confirm a clear correlation between high-speed rail (HSR) access and rising asset values,' he told Aletihad . 'In Fujairah specifically, I anticipate a 15% increase in property values within the city. All eyes will be on Al Hilal City, the flagship master-planned community anchored by the Etihad Rail station in Fujairah.'This rising attractiveness will also draw in local capital for property upgrades, generating jobs and stimulating grassroots economic activity, Kocher added. 'In parallel, smaller cities will benefit from increased domestic tourism, giving them a platform to showcase their unique identity. This not only drives foot traffic and spending but also strengthens appreciation for Emirati culture and national unity.'Kocher also predicted a healthy rebalancing of property prices across the country.'With improved inter-emirate mobility, citizens and residents now have the freedom to live in one emirate and work in another. This shift will allow more families to align their home location with lifestyle preferences and family priorities,' he explained. To maximise the benefits, Kocher advised developers to focus on high-density, mixed-use developments near stations that combine housing, retail, and public services. 'Incorporating retail outlets or a small mall will create healthy commercial diversity and support local businesses,' he said. 'A strong residential offering and a thriving small business ecosystem will continue to reinforce each of the emirates' appeal to both residents and long-term investors.'
Al Etihad
6 hours ago
- Al Etihad
AD Ports Group opens Islamabad office, expanding its strategic presence in Pakistan
5 Aug 2025 20:09 ISLAMABAD (WAM)AD Ports Group officially launched its first representative office in Islamabad, the capital of Pakistan, marking a significant milestone in the Group's international growth journey and its long-term commitment to enabling trade and logistics across South and Central the Group's global network of more than 140 offices, and strategically located in close proximity to Pakistan's key federal ministries, regulatory bodies, and state-owned enterprises, the new office will serve as a critical platform for deepening engagement with government stakeholders and advancing priority infrastructure and trade initiatives. As a client-facing and administrative hub, the Islamabad office will also support ongoing operations and facilitate strategic partnerships in the ports, maritime, logistics, and industrial development inauguration ceremony was attended from Pakistan's side by Muhammad Ishaq Dar, Deputy Prime Minister and Minister of Foreign Affairs; Muhammad Junaid Anwar Chaudhry, Federal Minister for Maritime Affairs; Muhammad Hanif Abbasi, Federal Minister for Railways; Jam Kamal, Federal Minister for Commerce; Attaullah Tarrar, Federal Minister of Information and Broadcasting; Khalid Hussain Magsi, Federal Minister for Science and in attendance were Hamad Obaid Al Zaabi, the UAE Ambassador in Pakistan; Abdulaziz Zayed Al Shamsi, Regional CEO, AD Ports Group; AbdulAziz Al Balooshi, Regional CEO, AD Ports Group, and other senior officials, reflecting the depth of the bilateral relationship and shared vision for long-term economic opening of the Islamabad office follows a series of high-impact investments by AD Ports Group in Pakistan, including US$295 million committed towards the development and enhancement of container, bulk, and general cargo terminals at Karachi Port's East Wharf. These investments are central to the Group's strategy to support the transformation of Pakistan into a regional trade and logistics Mohamed Juma Al Shamisi, Managing Director and Group CEO, AD Ports Group, said, 'The opening of our Islamabad office represents a key milestone in our global expansion strategy and underlines our deep and enduring commitment to Pakistan." He added, "This move will enable closer collaboration with government entities and strategic partners, positioning AD Ports Group as a key contributor to Pakistan's economic transformation. Our growing footprint, underpinned by significant investments in critical port infrastructure, aligns with our wise leadership vision for trade facilitation, industrial diversification, and sustainable development.'Pakistan holds a strategic geographic position as a maritime gateway to Central Asia, making it a vital component of AD Ports Group's broader vision for developing an integrated trade corridor spanning from China to Europe. The Group has already made strategic inroads into key markets along this corridor, including Kazakhstan, Uzbekistan, and 2022, AD Ports Group entered the Pakistani market through a landmark 50-year concession to develop and operate container terminal berths 6–10 at Karachi Port's East Wharf, in partnership with Kaheel Terminals. This was followed by a second 50-year concession signed in 2023 to develop and manage berths 11–17 for general and bulk cargo. Through its operating entity, Karachi Gateway Terminal Limited (KGTL), the Group has introduced world-class operational systems, advanced equipment, and global best practices to significantly enhance terminal productivity, reduce vessel dwell times, and increase cargo enhancements have elevated Karachi Port's standing as a key logistics hub, boosting the resilience and competitiveness of Pakistan's export infrastructure and contributing to the country's economic diversification parallel, AD Ports Group has signed several high-level agreements aimed at expanding its integrated logistics and digital trade ecosystem in Pakistan. These include:• A Memorandum of Understanding with the Pakistan Board of Investment to explore the development of a dedicated industrial zone near Karachi Port and Port Qasim.• A strategic agreement with Pakistan Single Window to co-develop a unified digital trade platform, streamlining customs and trade procedures.• A collaboration with the Bahria Foundation to enhance dredging, vessel pooling, and marine services.• An initiative by Noatum Logistics, a subsidiary of AD Ports Group, in partnership with KGTL, to establish a multi-modal logistics corridor linking Pakistan with Central Asia via integrated air, sea, and land transport solutions, along with warehousing, distribution, and cold chain these initiatives, AD Ports Group aims to catalyse the modernisation of Pakistan's logistics and trade infrastructure, unlock new avenues for foreign direct investment, and promote greater regional connectivity. The Islamabad office represents a strong foundation for furthering these objectives, enabling the Group to engage more closely with key stakeholders, accelerate project delivery, and support Pakistan's journey towards becoming a leading regional trade gateway.
Zawya
7 hours ago
- Zawya
Indian jeweller Titan eyes shifting some manufacturing to Gulf as US trade tensions escalate
India's biggest jeweller and watchmaker Titan is exploring shifting some manufacturing to the Middle East Gulf to maintain low-tariff access to U.S. markets amid trade tensions between Washington and New Delhi, Managing Director C.K. Venkataraman said on Tuesday. Titan, part of the Tata Group conglomerate, announced this month plans to acquire a majority stake in Dubai-based luxury retailer Damas, which operates 146 stores across the Gulf. In light of the deal, valued at $283 million, Venkataraman told Reuters the region is being considered 'as a manufacturing base to export to the U.S.' His comments reflect how global companies may seek new routes to navigate trade barriers, as the U.S. levies or threatens tariffs on international trade partners. Last month, U.S. President Donald Trump slapped a surprise 25% tariff on imports from India and threatened further hikes this week over India's purchases of Russian oil. In contrast, the United Arab Emirates faces a 10% tariff under Trump's baseline rate. Titan's Tanishq brand has several U.S. stores and is planning a major expansion, while its diamond-focused label CaratLane launched in the U.S. in October, the company said. Titan began talks to buy Damas in 2024, before U.S. trade policy shifts came into focus. Shifting some manufacturing to a Gulf Cooperation Council country would be a way to mitigate recent rises in U.S. tariffs, Venkataraman said in a video call with Reuters. The U.S. is a less feasible manufacturing base due to cost and skills constraints, especially for artisan-made jewellery, he said. "If the tariffs remain like what they are currently threatened to be, then any arbitrage on a tariff ... any significant arbitrage would be meaningful for us to consider," Venkataraman said. (Reporting by Luke Tyson; Editing by Susan Fenton)
