Investcorp and its partners have acquired a 70% stake in L’azurde, a leading Middle Eastern gold and jewellery manufacturer, positioning the company for significant growth in the expanding MENA jewellery market.

Target Information

Investcorp, in partnership with Eastgate Capital Group and The National Investor, has acquired a 70% stake in L’azurde, a prominent gold and jewellery manufacturer based in Riyadh, Saudi Arabia. Founded by Abdul Aziz Al Othaim over three decades ago, L’azurde has grown into a leading brand in the Middle East and ranks as the fourth largest gold jewellery company globally. Known for its high-quality products, exceptional design, and robust manufacturing capabilities, L’azurde serves a mass market and distributed its products through a network of 4,200 wholesale accounts, alongside a retail presence with 18 flagship stores across the region.

In 2008, L’azurde generated revenues exceeding $500 million, demonstrating a 14% year-over-year growth in EBITDA. The company has also invested in extensive advertising campaigns in collaboration with the World Gold Council, enhancing its brand recognition and market presence in the region. With state-of-the-art manufacturing facilities in Riyadh and Cairo, L’azurde employs over 2,000 personnel, showcasing its capacity to meet the demands of the growing gold jewellery market.

Industry Overview

The Middle East and North Africa (MENA) region is becoming one of the largest and fastest-growing markets for jewellery globally. It accounts for approximately 12% of world consumption, with an impressive compound annual