Supervisor Elham AbolFateh
Editor in Chief Mohamed Wadie

Lamar Launches Latest Collection of Gold, Jewelry with 1000 New Pieces


Thu 03 Mar 2022 | 03:23 PM
walid Farouk

Lamar for the manufacture of gold and jewelry launched its latest collection with around 1,000 new models studded with precious stones last January.

Essam Abdel Aziz Al-Ashrafy, Chairman of the Company said that Lamar is a Saudi company that has been investing in the Egyptian market for five years; due to its attractiveness and its suitable investment climate.

Al-Ashrafy pointed out that the company initially relied on light weight and plain gold products, which were not studded with lobe jewelry or precious stones, so the company was not affected by the rise in prices because the weights were suitable for market demand and the purchasing power.

The chairman added that the company offers products of rings ranging between 2-7 grams, or typically 5 grams in the Egyptian market, noting that the parure start from 15 grams.

He explained that the company did not raise the prices of its own workmanship on all products, but on some of them only, and the increase did not exceed EGP 2-3; in order to maintain the competitiveness of its products.

He said that Egypt witnessed a huge development in infrastructure, which was the biggest obstacle for investors, which will help in making Egypt the gate to Africa, especially since it is the most dynamic country in the MENA region.

Meantime, a slight drop in gold prices is expected in the event that the Federal Reserve increases interest rates, however there are other factors too that cause prices to rise.