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L'azurde Acquires Saudi Arabia Franchisee for TOUS (Spain) Brand

09 Aug 2018 - L’AZURDE Company for Jewelry, the largest gold and diamonds jewelry designer, manufacturer, wholesale and retail distributor in the Middle East, announced Tuesday it has signed the Share Purchase Agreement (SPA) to acquire 100% of the equity of Izdiad Commercial Company of Arabia (Izdiad), the KSA franchisee of the TOUS international jewelry brand. This represents a major development for the Company, establishing a strong presence in the affordable luxury jewelry segment and adding a new source of growth and profitability. Izdiad has demonstrated continuous solid growth in revenues and profits since its establishment, with its 2017 net income reaching SR18.8 million.

Saudi Gazette