L’Azurde Company for Jewelry will set up a new limited liability company in Oman to strengthen its GCC wholesale expansion business, the company said in a bourse filing on Monday.
The new Omani subsidiary – L’Azurde Company for Jewelry - will have a share capital of SAR 100,000 and will start commercial operation in Q3 2018.
The principal activities for the new entity will include wholesale, retail and export, import of gold jewellery, precious and semi-precious stones and distribution of jewellery, accessories, watches, glasses and perfumes.
The financial impact will be reflected in Q4 2018 earnings, the statement added.
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