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Saudi Arabian jewellery firm L’Azurde is to invest SAR100m (US$27m) in expanding its network of retail outlets across the GCC, it announced on Thursday.
The Riyadh-based diamond specialist said it will increase its number of stores in the Gulf from its current ten to 30 over the next three years.
L’Azurde, established in 1980, has shown an annual growth rate over the past three years of more than 30 percent, it said. With its latest expansion it aims to capture 40 percent of the Saudi jewellery market. The firm did not specify where the next crop of outlets would be located.
"The goal of our ambitious expansion in the retail sector is to provide diamond jewellery to different types of consumers and for different occasions,” L’Azurde’s executive general manager Ayman Al-Haffar said in a statement. “For example, we offer marriage sets and gem fashion sets like sapphire, rubies and pearls."
L’Azurde made the announcement during the opening of a new flagship store on the Saudi capital’s Olaya Street.
The company currently has nine outlets in Saudi and one in Al Ain, UAE.
Contrary to all their claims of massive sales I get the feeling they need this money to pay their staff salaries. What sense does it make to restrict... more
Tuesday, 18 June 2013 7:44 PM - peter peterGood boy! Very Good boy! Nice poodle! more
Tuesday, 18 June 2013 1:16 PM - Dildo DagginsSpot On Bobby more
Tuesday, 18 June 2013 4:21 PM - AliIt's typical and pretty sad that people here only blame the Saudis. What these people seem to forget is that Indian institutions and contractors are the... more
Monday, 17 June 2013 9:06 AM - narendramodi
@anguilla: Kalba town is part of the Sharjah Emirate.
along with khor fakkan and dibba al hisn.
http://en.wikipedia.org/wiki/Sharjah_%28emirate... more
I am wondering why this article is being published here? it is really useless. anyway, I in certain ways agree with the Mufti. god bless Saudi Arabia more
Tuesday, 18 June 2013 9:27 AM - Faisal@ Henry, enough of whining, the host country does not need you, it is your employer that needs your services and you know well enough that you can be made... more
Saturday, 1 June 2013 11:32 AM - ZainOrganizations like HRW, Green peace, ILO, UNHCR are so self serving that it is amazing they still exist! they spend 60/70 percent of their budgets (meant... more
Thursday, 30 May 2013 7:53 PM - NavinIf one wants to visit or live in Bahrain one must abide by the laws. Living without pork is no huge sacrifice. Muslim and Jewish nations subscribe to this... more
Saturday, 25 May 2013 6:05 PM - Jeffrey Kershaw
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