Saudi Arabia-based jeweler L’Azurde expects to invest $26.7 million (SAR 100 million) in expanding it diamond store network, tripling the number of locations to 30 in the next three years. L’Azurde opened its flagship store in Riyadh on Olaya Street this week and during the gala launch, it reported an annual growth rate of more than 30 percent this past year.
L’Azurde produces more than 3,000 various jewelry items annually in Riyadh, according to L’Azurde's chief executive, Selim Chidiac. “The company is always seeking to develop new products that reflect the Saudi culture yet that are of the highest international standards,” Chidiac said.
L’Azurde's general manager, Ayman Al-Haffar, added, “The goal of our ambitious expansion in the retail sector is to provide diamond jewelry to different types of consumers and for different occasions. For example, we offer marriage sets and gem fashion sets like sapphire, rubies and pearls.”