• Saudi Arabia is one of the world’s largest consumer of gold and jewellery


• The Gulf Diamond market is dominated by Saudi Arabia where Riyadh alone is estimated to spend $323m in PWP (Polished Wholesale Price).


• Saudi Arabia has always been a top consumer of Jewellery. Saudis consume more than three grams of gold per person.


• Share of Saudi Arabia’s jewellery market has jumped 35 percent of overall Arab region’s market with sales amounting to SAR 3 Billion on yearly basis due to high purchasing power.


• The volume of Saudi Market is exceeding the combined GCC market due to demographic factors and availability of different tastes.

Apart from the OIL that Saudi Arabia produces, the Kingdom is also best known for the manufacturing and Retailing of exquisite and exclusive Gold and Diamond Jewellery. The Gold and Jewellery industry of the Kingdom dates back centuries and is regarded for safeguarding the architecture and heritage in its jewellery. Saudi jewellers have, with sheer passion and dedication, diversified in the Global market and have taken pride in extending the “Made in Saudi Arabia” brand across geographic borders.

The various Gold and Jewellery associations under the respective Chambers of Commerce in Saudi Arabia play a vital role in the business expansion of the industry. Apart from organising important exhibitions and shows in the country, the association also plays an important role in informing and communicating to the trade, the latest in events and programs that are being organised internationally. This in a way has been detrimental to the growth of the Saudi Arabian gems and jewellery industry.

The Saudi Arabian jewellers are today well known in the International jewellery sector for churning out exquisite quality pieces that are produced keeping in mind the highest quality standards. Every leading brand from the Kingdom adheres to the International quality standards such as ISO and is the only reason that the leading brands such as L’Azurde, GHASSAN, TAIBA etc have been successful in marketing their respective products to the Global buyers. Saudi Arabia’s jewellery dominance is witnessed not only in the GCC region, but also countries like Azerbaijan, Armenia, Egypt and other North African countries. Saudi Arabian jewellery industry also boasts of premium ‘jewellery designers’ who have been successful in taking their exclusive designed jewellery across borders to cater to high net worth customers in the gulf region.

Saudi Arabia is also home to the finest of International certification and grading companies which again shows the effort that the industry is putting in to up keep the quality and integrity of the produce and the industry as a whole. The global certification and grading companies in a way play a big role in Saudi manufactured jewellery entering the International markets. In a first of series showcasing leading Saudi Arabian Jewellery industry, The New Jeweller team has in this edition brought to you some of the leading jewellers from the Kingdom. With further developments and expansion, our team will be treating you regularly with News from one of the world’s finest and important gems and jewellery economy – SAUDI ARABIA.

L’azurde’s offering comprises a vast array of jewellery products with different karats and colours in gold, diamond and precious gem jewellery. The Group’s pool of award-winning designers and model-makers ensures that its distribution channels are constantly supplied with fresh varieties of models every month. L’azurde sells its products through its wholesale network and its own retail showrooms. The Company’s products are sold in more than 15 countries across the MENA region, through exclusive distributors and wholesalers. The Company’s retail operation currently consists of 14 showrooms across Saudi Arabia (Riyadh, Jeddah, Dammam), UAE (Abu Dhabi and Al Ain), Kuwait and Egypt to reinforce the brand image and gain consumer knowledge.

The Company currently employs close to 3,000 people, including those located in Egypt. In 2004, the Company started its Egyptian operations (Oro Egypt) with a second manufacturing unit in Cairo. In 2005, the Company received the ISO 9001 : 2000 certification for quality standards. In 2006, L’azurde was converted from a sole proprietorship company into a Saudi closed joint stockc ompany. The Company received several awards over the last decades which have contributed significantly in promoting and improving L’azurde’s brand name. A selection of these awards is shown below:

2007:  First Prize in “Tahitian Pearl Trophy – The Fire Works” contest organised by Perles de Tahiti

2006:  First Prize in “Tahitian Pearl” contest fourth edition (set category) organised by Perles de Tahiti

2002:  Award for design excellence in gold jewellery (technology category) granted by Gold Virtuosi International Jewellery, Italy

2001:  First Prize in Saudisation from the Ministry of Internal Affairs, Saudi Arabia

2000:  “King Abdul Aziz Prize for the Ideal Factory”, Saudi Arabia

1998:  Best Design Prize “Turn Your Idea Into Gold” contest by World Gold Council

1997:  Prize of International Quality of gold and jewellery by Trade Leaders’ Club, France

1996:  Best Trade Name prize by European Entrepreneurs’ Association, Spain

1995:  Best Design Prize “Signs of the Desert” gold jewellery contest by World Gold Council, Bahrain

Market leadership in a highly fragmented market

The Middle Eastern jewellery market is highly fragmented and characterised by a number of small, local players that lack critical mass and distribution reach. With a total production of c.30 tons of gold jewellery, L’azurde is one of the largest jewellery manufacturers in the world, amongst the most important players in the Middle East and the leading company in the Saudi Arabian market. L’azurde is one of the very few players that are present in the 21K as well as the 18K gold jewellery segments, far superior to anyother competitor. The Company offers a wide variety of products including gold jewellery through its wholesale operations and diamond products through the Company’s own retail showrooms.

Excellent brand awareness in the Middle East

L’azurde is a well-known gold and jewellery brand in the entire Middle East and has the highest brand awareness in Saudi Arabia. The Company invests significantly in advertising and promotion in order to maintain and strengthen its strong brand image in the region. L’azurde has adopted since 2007 a successful marketing campaign involving Lebanese celebrity “Elissa” which has further improved the brand image and awareness in the region. L’azurde has pioneered the celebrity endorsement strategy in the region by being the first company to launch this concept. L’azurde has revived it’s partnership with the Lebanese super star in November 2014 with the intent of spending in excess of SR 30 million on its marketing support. The Group’s retail network represents a very important marketing channel to promote the L’azurde brand in major urban centres. The Group has a vision to significantly expand its retail network across the GCC and reach 30 to 40 shops in 3 years.

Broad, diversified product offering

L’azurde offers a wide variety of products including gold jewellery in the 18K and 21K categories as well as jewellery with pearls and precious stones such as diamonds, emeralds, sapphires and rubies. L’azurde also offers diamond jewellery with semi-precious stones (topaz, citrine, amethyst, and tourmaline). L’azurde’s jewellery products offering includes different styles of sets as well as rings, wedding rings, earrings, pendants, necklaces and bracelets sold separately (“Nowaim”).

Superior design, Technology and innovation capabilities

L’azurde has the reputation of being one of the most innovative jewellery companies in the Middle East with highly experienced and skilled designers operating in the Company for many years. Over the last decade, the Company has received a number of awards for its widely recognised creativity such as the “Gold Virtuosi International Jewellery Award for Design Excellence in Gold Jewellery” (category of technology) awarded in Italy in 2002 and the “Prize of International Quality of Gold and Jewellery by Trade Leaders” awarded in France in 1997.

L’azurde has been added to the prestigious LBMA (London Bullion Market Association) Good Delivery List as of June 1st, 2010. L’azurde is the first company in the Middle East to obtain the LBMA accreditation. The LBMA accreditation will help L’azurde expand its presence in the bullion trade and scrap gold market by offering new services to traders, customers and investors. Announcing the accreditation, the LBMA communicated end June 2010: “L’azurde has satisfied the LBMA as to its production capability and financial standing. It has also passed the LBMA’s exhaustive testing procedures, under which its gold bars were examined and assayed by independent referees, and its own assaying capabilities have been tested.“ The manufacturing facility in Saudi Arabia has a production capacity of 30 tons of gold and jewellery per year. The 10,000 sqm facility offers appropriate level of flexibility and available capacity to increase production as needed.

Quality Control

Since 2005, L’azurde is ISO 9001 : 2000 certified. Product quality is the focus throughout the entire production process. As a final check, all finished products are systematically inspected to guarantee they have all details of the original design and no tangible damages with regard to strength, durability and finish. Once approved, the products are tagged with the L’azurde brand name. About 50 selected employees, based on their process knowledge and performance, are in charge of the quality control during the production process. All defects are independently evaluated and cases where re-work is either not possible or too expensive are melted and recycled.

Vertically-integrated business model

L’azurde maintains full control over the entire value chain including design, the entire production process, marketing and distribution. This ensures process efficiency and alignment of product characteristics and design to the Company’s brand image. Each design is defined in conjunction with the marketing experts to ensure saleability and success. The Company has a structured manufacturing process involving the creation of a 3D template that allows for serving timely reorders of earlier models. The core production process involves four stages and enables high flexibility and efficient production of a multitude of the same jewellery model. With its ISO 9001:2000 certification, L’azurde assures the highest quality standards for its products. Each individual jewellery piece is accurately controlled to guarantee that it has all details of the original design and has no tangible damages. The Company’s in-house marketing department collaborates with leading agencies (JWT is the advertising agency for L’azurde) to promote its products through the adequate communication channels and maintain its strong brand identity. L’azurde’s products are supplemented by a wide range of after-sale services which support the Company’s commitment to maintain high customer loyalty.

Management

The Company is run by an experienced international leadership team consisting of the CEO, Executive General Manager, CFO the Director of Administration and Government Relations. The Board of Directors oversees the function of the CEO. The Chief Internal Auditor has a general role in the Company overseeing processes throughout all departments.

At Ghassan our craftsmen are highly skilled artisans; passionate makers of jewellery that carry on a tradition passed through the generations. We share a love and dedication for what we do along with a diverse set of skills and artistry. From crafting gold to setting each individual stone, every piece is handcrafted with care. At Ghassan we believe exquisite is in the detail. So at Ghassan we make a wide range of limitededition jewellery to suit every woman. Whether it’s for a formal engagement, a wedding, or for every day, each piece of Ghassan jewellery has the same level of craftsmanship, materials and attention to detail. The end result speaks for itself. Stunning, unique jewellery created for women to express their individuality.

Asala: A new collection of 21 Karat Gold

For the first time, Asala 21 Karat Gold from Ghassan Jewellery. Ghassan jewelry celebrates the launch of the new and distinctive line of 21 karat gold named "ASALA". This name was inspired by its heritage of authentic and its unique experience in making the best quality and the finest models of gold. This collection is characterized by exceptional models studded with finest kinds of stones, which made by hand and by the latest jewellery machines, and outsourcing efficient gold designers to come with designs that reflect the taste of the East and the West at the same time.

Amal Zimmo, Marketing Manager of Ghassan Jewellery, stated that “We believe in the role of jewelry in exposing the beauty and femininity of women, and this is what always motivates us to design special models to satisfy different tastes and personalities. Asala is considered the outcome of previous experience in understanding women's requirements, in addition to following the global fashion line to fulfill women's aspirations. Hence, we expect unrivaled success for this line in Arab and Gulf market”.

Classic 1885 collection

There are few kinds of ornaments that have fascinated and amazed women with their beauty and charm. Throughout centuries and across the continents, the pearl is considered as one of the ornaments and gemstones that ladies fall in love with. The secret of pearls has inspired a plethora of myths: one of the famous old Arabic legends tells us that the pearl is formed when dewdrops filled with moonlight fall to the ocean and are swallowed by oysters to produce the best kinds of pearls. Moon, fortune, love, wisdom, luxury and wealth are just a few things that this extraordinary gemstone symbolises. Now Ghassan's master craftsmen have turned to this natural wonder for inspiration. The result is lots of sets and models that are decorated with the pearls. Classic 1885 is considered one of the most prominent collections that have excelled by Ghassan Jewellery. Formed from 18 Carat gold, studded with Swiss Zircon and decorated with the best pearls, the collection is a perfectly balanced marriage of opulence and elegance. It's a modern translation of the ancient belief that pearls keep a woman forever young, allowing her inner beauty to shine through.

Venice Collection

Ghassan turns the beautiful moments of your life to be remembered through the launching of Venice Collection Ghassan Jewellery launched its new range (Venice) for dreamy and romantic woman, who dreams to acquire a distinctive and valuable piece of gold that reveal her inner beauty in the elegant way to attract her husband, and to be the most beautiful woman in his eyes. This collection has inspired from the latest fashion lines in the world of global gold and Jewellery comes to us with unique designs and colors that give the gown a special charm and elegance. As the wedding day is the most beautiful day of life, Venice Collection is considered the perfect gift from husband to his wife, that expresses his love and passion for her.