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Friday, 20th March 2009 (2377 views)

Asset management company Investcorp has purchased a 70 per cent stake in gold and jewellery manufacturer L'azurde, it has been announced.

The Middle Eastern brand produces a range of jewellery products made from the precious metal and, according to a recent study by Forbes Arabia, is the world's fourth largest designer, manufacturer and distributor of such items.

The firm has 18 retail stores across the region - along with two production facilities in Riyadh and Cairo - and founder, chief executive and chairman of the company Abdul Aziz Al Othaim has welcomed Investcorp's move.

"Not only is Investcorp tremendously respected as the pioneer of private equity in the region, but it also has extraordinary relevant experience in growing global consumer brands," he explained, noting that the partnership will herald the "next successful chapter" in the history of the company.

Elsewhere in the jewellery sector, Dubai is to showcase pieces from some of the world's elite jewellery manufacturers as part of an exclusive event, which is due to take place in October.

 

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