L’Azurde invests SAR 2 mln in new accessories line

11/05/2017 Argaam

L’Azurde for Jewelry Co. has invested SAR 2 million to launch a new line in men’s accessories, the company said in a statement on Tadawul.

 

The investment will cover finance working capital and support products’ development and marketing in the initial stage.

 

The new line will include men’s accessories such as silver and steel cufflinks, rings, bracelets, wallets and pens. The products will be manufactured in Europe and Asia. 

 

The financial impact of the new line is expected to materialize in second quarter of 2017, the company said, anticipating that it will account for 10 percent of retail sales.

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