L’azurde Company for Jewelry [4011.SE], which recently listed on the Saudi stock exchange, is planning to almost double its branches to reach 30 shops in the Middle East and North Africa by 2018, CEO Selim Chidiac said. As Saudi market conditions became challenging following the drop in oil prices, the company is looking to expand into new markets, primarily in the Gulf, where there are opportunities in Qatar, UAE and Kuwait. Chidiac further added that L’azurde is also planning to expand in Egypt, Morocco and Algeria. On another note, the company aims for its retail operations to generate 30-35% of annual revenue within three to five years; wholesale operations currently contribute c80% of revenues. (Reuters)