Jewellery retailer L’azurde Company has signed an exclusive operating agreement with Saudi French Duty Free Operations and Management, a division of Lagardère Travel Retail.
The agreement sees L’azurde become the exclusive supplier of gold and jewellery in the international terminals of Saudi Arabia airports – including King Khalid International Airport, King Abdulaziz International Airport and King Fahd International Airport.
David Bisset, CEO, Lagardère Travel Retail in Saudi Arabia, and Selim Chidiac, CEO, L’azurde, signed the agreement at L’azurde’s headquarters in Riyadh.
Under this agreement, L’azurde will become the exclusive supplier of jewellery and gold at the international showrooms in Riyadh, Jeddah and Damam, providing new revenue streams to the company and diversifying its revenues by expanding its retail operations, and targeting a new segment of customers.
“We are proud to be working with Lagardère Travel Retail, a pioneering and leading travel retail player with global reach. With retail sales expected to start by Q3 2017 at Saudi airports, our agreement with Lagardère Travel Retail is anticipated to increase L’azurde’s annual revenues by 10%,” says Chidiac.
“As we continue to expand our travel retail business in the Middle East, we are delighted to partner with L’azurde, their reputation as a leading manufacturer and retailer of gold and jewellery products makes them the perfect fit for our expanding business.” adds Bisset.
The total number of passengers passing through Saudi airports is growing. On April 25, 2016, Saudi Arabia announced Vision 2030, an ambitious economic plan, which seeks to diversify the Kingdom’s sources of income through a number of pillars, including increasing the number of pilgrims and Umrah, strengthening the position of the Kingdom as an ideal tourist destination and leveraging its geographical position in increasing the flow of international trade between Asia, Europe and Africa and maximizing its economic growth.
“The 2030 Vision will enhance the Kingdom’s global economic standing, create business opportunities as the Kingdom leverages its geographic location, as well as diversify Saudi Arabia’s sources of income and support airport traffic. This will further enhance the importance of Saudi airports and provide great opportunities for us,” states Chidiac.
According to a report by the United Nations, the fashion industry accountsFebruary 18, 2021 | By Shruthi Nair
The jewellery making industry has been under tremendous scrutiny over the yearsFebruary 11, 2021 | By Shruthi Nair
UAE-based Carrefour will become the first retailer in the region to offer new levels
The Organic Farmers’ Market is back in Bay Avenue for its 12th
UAE-based Lulu Group recently inaugurated its first-ever all-female staff store in Jeddah,
Jones the Grocer, the gourmet grocer and cheese retailer launches the Jones
UAE-based Al Maya Supermarkets is hosting a two-week food festival at select
Locally-owned supermarket Spinneys has launched its ‘Power of Plants’ initiative in the
Carrefour UAE has launched “Cookit Yourself” — a curated recipe box created
UAE-based Al Islami Foods, one of the largest frozen food companies in
Marks & Spencer’s plant-based range now offers over 25 vegan products including meat-free
World’s largest fully integrated online brand in fresh fish and meat e-commerce
Homegrown, organic and plant milk company, Koita has announced its expansion into
British brand Marks & Spencer, operated by the Al-Futtaim Group has launched
According to a report by the United Nations, the fashion industry accounts
The issue of climate change and the environmental crisis we are in
Unprecedented – that’s probably one of the most common adjectives for the
Tighter restrictions on hotels, restaurants, shopping malls and entertainment venues on account of
Retail Abu Dhabi, the dedicated retail platform of the Department of Culture
All hotels and restaurants have been directed to temporarily hold entertainment activities
The new Dubai Gold Souk is “very much on track”, according to
H&M has announced its collaboration with American denim brand LEE to push
Research from beauty comparison website, Cosmetify, has just revealed that the UAE
Gone are the days of traditional brick-and-mortar as well as purely e-commerce
The Dubai Gold & Jewellery Group’s ongoing jewellery campaign, held in association