L’azurde targets 9% sales growth in 2023

Daily News Egypt
3 Min Read

Ihab Ibrahim, Chief Operating Officer of L’azurde Group in Egypt, has stated that the company aims to achieve a growth rate of 9% in its sales next year.

The company has imported 3D printer machines, so that the company can keep up with the latest developments in the gold industry, he said. “Moreover, the company seeks to enter export markets, especially in Africa, in line with Egypt’s orientation to increase exports to the continent.”

Ibrahim noted that the company will continue directing more investments in 2023, with the adoption of strategic plans and transformational initiatives that will enable the company to be a leader in the gold and jewelry sector in the Arab region and Middle East.

In 2019, the company launched an online selling platform, after the high rates of e-commerce in Egypt, he said, adding that online sales range between 15% and 20% of the group’s total sales, which is the global average for online sales.

He explained that the platform has begun to attract foreign buyers in the Middle East and Africa, especially central and west Africa, and pointed out that the company will rely on its online platform to enhance its exports.

Ibrahim disclosed that 14-carat gold has received great demand since its launch, in addition to the launch of new products in the Egyptian market weighs less while maintaining its size through modern technologies to keep pace with changes in the gold market at competitive prices.

In Egypt, the group owns three factories in Obour city, a factory for the production of gold jewelry, with a production capacity of about 10 tonnes annually, and a factory specialized in the production of diamonds, which serves the group’s jewelry only and is not for sale to traders.

Ibrahim added that the group aims to produce silver rings in addition to the gold ones, especially due to the high demand for them and the direction of a large part of purchasing power. The company owns three brands in the Egyptian market, namely L’azurde, Miss L’ and Instyle.

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