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UAE gold retailer Joyalukkas has secured a 500 million UAE dirhams ($136 million) revolving facility with Emirates NBD to facilitate its expansion across key markets including the GCC, the UK, US, Canada, and Australia.
Emirates NBD said it will work with Joyalukkas’ retail network to provide inventory financing and operational liquidity during peak times and swift settlement of supplier obligations without funding constraints.
Launched in 1987, Joyalukkas Jewellery is a family-owned business with stores in 13 countries.
In 2012, the company raised $100 million in a syndicated loan from a consortium of banks to expand its network of stores.
(Writing by Bindu Rai, editing by Brinda Darasha)
