By Abdel Qader Ramadan
Jewelry manufacturer L’Azurde, a member of the Egyptian-Saudi Business Association, plans to inject new investment into the Egyptian market, the association said on Sunday.
According to a statement by the association: “The company plans to open its new plant in the free trade zone,” which will help it expand exports while the previous factories satisfy the needs of the local market. “The new factory will provide thousands of jobs,” the statement added.
During its visit to a plant in Obour City, the company told a delegation from the association, headed by Secretary-General Ahmed Darwish, that it is also investing in Egyptian labour through establishing a centre for vocational training. The centre aims to train 500 workers every 3 months.
L’Azurde will open its first stores in Egypt’s Cairo Festival City Mall in the Al-Tagammu Al-Khamis area of New Cairo.
L’Azurde opened its first plant in Egypt 10 years ago, and has achieved a number of successes since this time, capturing 40% of the Egyptian market. Over the coming period it seeks to increase this market share and its volume of exports in jewelry. The company’s volume of exports in gold was approximately one ton over the past year.
L’Azurde produces three lines of jewelry. The first, its diamond line, produces approximately 1,000 pieces per year; the second, its 21-karat gold line, produces approximately 3,000; its 18-karat gold line produces 1,000 pieces per year.