Sélim Chidiac, C.E.O. of the L'azurde jewellery group, which has historically focused on wholesale, presents his strategic directions for increasing direct distribution. This includes deployment of BNPL, launch of a new website in 2023, development of QR codes in stores and a launch into digital marketplaces.
You joined L’azurde in 2010, after having held several positions in two FMCG companies: Procter & Gamble and Red Bull. Tell us about the retail activity of this jewellery network.
Sélim Chidiac: L’azurde is a jewellery group, which manages the brands of L’azurde, Miss L plus the Tous brand via a franchise agreement. Our core market is Saudi Arabia and Egypt. The group has been listed on the Saudi Arabian Stock Exchange since 2016. We only sell 18 and 21 carat gold jewellery. Our uniqueness is how we are vertically integrated. We operate from design to sales, through manufacturing with 3 factories (2 in Egypt, 1 in Arabia). For the past 4 years, our distribution activity has been evolving from wholesale to direct distribution (or D2C).
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Article authors
Sophie Baqué
Chief Editor of mind Retail