The CEO of “L’azurde Company for Jewelry”, Sélim Chidiac, elaborated about the Company’s retail and digital transformation over the last years at the 10th Retail Leaders Circle MENA Summit held from February 19 to 20, 2024 at the Ritz-Carlton in Riyadh.
Mr. Chidiac presented the significance and magnitude of the retail and digital business at L’azurde during a panel discussion with the participation of top sectors leaders. He shed light on how, over the past years, L’azurde embarked on a major growth program to expand beyond its core wholesale and grow its retail and e-commerce businesses which represent today 50% of the Company’s revenues. This Direct-To-Consumer expansion is a strategic development to strengthen the Company’s relationship and understanding of its consumers while enhancing is working capital, cash flow and financials.
“I had the privilege to join very experienced and successful retail professionals with whom we shared the latest expertise, trends and opportunities in ever evolving retail sector,” he emphasized.
Sélim Chidiac added that the Company has an ambitious growth program to continue growing its brands and developing all its distribution channels to continuously enhance the shopper journey and engagement with its brands. The panel discussion showcased Saudi retail market dynamics, the great opportunities over the coming 5 years with its fast growing you population, tourism expansion and foreign investments.
The RLC MENA Summit is an opportunity for retail leaders to meet. The Retail Leaders Circle is a trusted and influential community of prominent retail leaders. It is committed to providing the world’s retailers, brand owners and suppliers with the intellectual and social capital they need to succeed. Retail Leaders Circle is fueled by a community of senior-level decision-makers across the entire spectrum of the retail industry who come together for thought-provoking discussions and networking. Industry powerhouses, disruptors and innovators can connect with an audience of key stakeholders, policymakers, business leaders and investors to rewrite the industry agenda.
