L'azurde acquires Amazing Jewelry franchise for KSA

31/01/2017 07:49 AST

L'AZURDE Group, largest gold and jewelry designer, manufacturer, and distributor in the Middle East, has announced Monday 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 SR100 to less than SR1,000, 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 homegrown diamond jewelry value-brand Kenaz in 2016.

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."

Saudi Gazette