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· L’azurde acquires the Scandinavian franchise for KSA, Egypt and 7 other countries in the MENA region
Jeddah, Saudi Arabia, January 25, 2017: L’azurde Group, largest gold and jewelry designer, manufacturer, and distributor in the Middle East has today announced the launch of its first ever franchise with ‘Amazing Jewelry’.
Amazing Jewelry was founded in Copenhagen, Denmark by Jesper Nielsen, former co-founder of Pandora Central Western Europe, a part of the Pandora Group. The brand is currently sold in mono-branded retail shops in several countries including Denmark, Germany, Norway, Sweden, and China.
Amazing Jewelry offers contemporary and price-conscious designs catering to youth and affordable luxury segments. Targeting price points from as low as SAR 100 to less than SAR 1,000, Amazing Jewelry boasts a new price revolution concept in the jewelry category, offering sterling silver, rhodium, gold- plated jewelry and even some with diamonds at amazing prices and the latest designs.
L’azurde acquired the franchise to sell Amazing Jewelry pieces in Saudi Arabia, Egypt and seven other countries in the MENA region for a period of 25 years. This new franchise provides new sources of revenues for the L’azurde Group and diversifies its revenues by expanding its retail operations and targeting new segment of consumers.
Sélim Chidiac, CEO of L’azurde, said: “We are delighted to launch our first ever franchise with Amazing. The addition of the Amazing complements our portfolio as we advance on adopting a classic House of Brands model. While we maintain our status as a leading manufacturer of premium gold and diamond jewelry, we find it important to build a robust offering that meets the requirements of all target groups and market segments. Amazing now provides a branded solution that targets a younger and price driven consumer and we anticipate a high demand from customers.”
Amazing is Lazurde’s second venture into a new category, following the launch of their home-grown diamond jewelry value-brand Kenaz in 2016.
Commenting on the venture Mr. Nielsen, Founder of Amazing Jewelry, said: “Middle East markets are traditionally big consumers of jewelry and luxury goods, however with shrinking budgets and reduced spending, we believe there is currently an even bigger appetite for affordable luxury products and as such are pleased to partner with the leading jewelry manufacturer to expand our footprint in the region.”
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Since it was founded in 1980, L’azurde has excelled at the art of jewellery design. Today, it is the largest gold and jewellery designer, manufacturer, distributor and retailer in the MENA region, and the fourth largest gold manufacturer in the world, selling over one million pieces of jewellery per annum.
L’azurde has over 2,100 employees and produces more than 5,000 different jewellery models every year in 21-karat, 18-karat gold, 14-karat gold and diamond jewellery. The pieces are manufactured at the company’s factories in Saudi Arabia and Egypt, using advanced high-technology equipment, and distributed to more than 2,000 retailers across the GCC and MENA region, as well as being exported to more than 15 countries outside the region. L’azurde also has its own network of more than 20 Mono Brand retail shops at top malls in KSA, Egypt and the UAE, where it is focused on the sale of diamond jewelry.
L’azurde’s fusion of traditional craftsmanship, top design and the use of precision technologies has been a key driver to its international expansion and evolution, and the Company has won many awards for its intricate designs over the years.