Login

Search

We have 4078 groups in 289 locations listed on this site! Knit on, everyone!

Latest Groups Added

1. Cartier Love Bracelet & Bangle
    Created: Apr 18, 2014
2. mens+new+balance+shoes | eBay
    Created: Apr 18, 2014
3. CSSS.NET Changes Name to Constellation West
    Created: Apr 18, 2014
4. Swatch Jumps as Outlook Boosts Optimism for China Demand
    Created: Apr 18, 2014
5. Swiss watchmaker Swatch isn’t afraid of the rise of smartwatches
    Created: Apr 18, 2014

Recently Updated Groups

1. New Castle, IN
    
2. Athens
    
3. Midland / Tri Cities / Mid-Michigan
    
4. Bedford
    
5. Colorado Springs
    

Stitch 'n Bitch Groups

Watch retailer Ahmed Seddiqi & Sons keeps family legacy growing with time | The National

Group Name
180
Meeting Location
180
Address
180, New York, 180, 180, 180
Meeting Day
180
Meeting Time
180
Contact E-mail
Group Website
[b][url=http://www.topcopywatches.com/]swiss replica watches[/url][/b]
[b][url=http://www.topcopywatches.com/]replica watches[/url][/b]
high quality swiss replica watches
| swiss Mechanical movement replica watches
| high quality replica watches for men

My National
Register
Sign in
Subscribe
My National
Sign out
Subscribe
Text size:
UAE
Sections
Courts
Education
Environment
Health
Heritage
National Day
Government
Science
Technology
Tourism
Louvre Abu Dhabi
Transport
Latest UAE Headlines
Weight-loss champions in Dubai cash in with 16.9kg in gold
Your Weight in Gold winner sheds 26kg and pockets nearly Dh10,000
Super sportscar to be made in Dubai
Ministry helps thousands of divorced women in Abu Dhabi ‘find their way’
Fast & Furious 7 begins filming in Abu Dhabi
Closing ceremony of Fifa U17 World Cup promises to be a lavish display
Dh1.5 million ‘private jet on wheels’ on display at Dubai Motor Show
Mers coronavirus diagnosed in patient in Abu Dhabi hospital
UAE-made horror movie Djinn takes Dh1 million in its first week
Charity’s student network allows young volunteers to give back to society
Popular Stories

Mercedes 6x6 will be king of UAE’s roads
Fast & Furious 7 begins filming in Abu Dhabi
Bodybuilder appeals Dh25,000 fine for ‘mocking the state’
World
Sections
Middle East and North Africa
South Asia
Americas
Europe
Asia Pacific
Africa
Central Asia
East Asia
Southeast Asia
Latest World Headlines
Kerry warns of violence should Israeli and Palestinian talks fail
Philippines braces for super typhoon Haiyan
Who killed Yasser Arafat?
Iran claims some sanctions to be lifted in nuclear talks breakthrough
UK’s enemies ‘rubbing their hands with glee’ over Snowden leaks
Iranian prosecutor killed in revenge attack for hangings
Musharraf freed from months-long house arrest
Tunisia’s revolution of youth confiscated by the old
French principal flees Qatar after claims of anti-Muslim attitudes
Syrian militias are robbing civilians
Popular Stories

Philippines braces for super typhoon Haiyan
Assad ‘has lied about Syria’s chemical arsenal’
French principal flees Qatar after claims of anti-Muslim attitudes
Business
Sections
Personal Finance
Industry Insights
Aviation
Banking
Economy
Energy
Markets
Media
Property
Retail
Technology
Telecoms
Travel & Tourism
Latest Business Headlines
Aldar profits on the double but revenues slide
Qatar Holding interest brings relief for BlackBerry but questions remain
India offers helping hand to foreign banks
Al Habtoor introduces premium Chinese SUVs to Dubai at low cost
Pakistan keen to build gas pipeline but wants Iran to finance project
Need a building on the Moon? Send for the 3D printer
Dubai restaurateur raises the steaks across Middle East
Tourist numbers in Dubai grow 10% over first nine months of year
Luxury real estate developments are changing Kolkata’s landscape
Houses in space and noodles for lunch from the 3D printer
Popular Stories

New Dh1.8bn Dubai skyscraper to rise high in emirate’s top 10 tallest
Dubai economy on course to grow at fastest rate in six years
Aldar profits on the double but revenues slide
Sport
Sections
UAE Sport
Football
Arabian Gulf League
Formula One
Abu Dhabi Grand Prix 2013
Cricket
Golf
Horse Racing
Tennis
Rugby
Motorsport
North American Sport
Other Sport
Latest Sport Headlines
Jazira leave it almost too late before snatching victory from Al Ain
First Emirati pair comes to grips with GP3 cars at Yas Marina test
Al Wasl close in on their man, Hector Cuper
Dubai Hurricanes have something to prove in UAE Premiership final
Manchester United’s plan yet to come together while Arsenal surged with Ozil
Trainer Musabah Al Muhairi fast out of gates
Roger Federer takes step towards semi-finals and shots at drug testing
There is no shortage of confidence for Nigeria coach Manu Garba
New Ireland duo O’Neill and Keane a match made in Tinseltown
Fans can channel their inner teenage girl at Lord’s sleepover
Popular Stories

Manchester United’s plan yet to come together while Arsenal surged with Ozil
Nigeria and Mexico’s focus firmly on bringing home U17 World Cup trophy
Mourinho ‘educates’ Hazard with Schalke omission
Lifestyle
Sections
Motoring
Travel
House & Home
Fashion
Food
Well Being
Family
Latest Lifestyle Headlines
Five things to do today: Get in shape with BuggEFit and attend the opening of the exhibition Soshana Forever
Mesas and minimalism in Utah
Travel news: A new social network for travellers and Lonely Planet’s 2014 tips
An uprising of art in the Cambodian city of Siem Reap
Hotel Insider: The Ritz-Carlton, Dubai
Hospitality starts at home: taking cues from hotels in your space
The hot list: floral accents in full bloom
On the market: Five-bedroom villa on the edge of Khalifa City A
Home improvements: Make a snow globe
MY UAE: Hamda Al Hashemi, a calligraphy master in the making
Popular Stories

Travel news: A new social network for travellers and Lonely Planet’s 2014 tips
Hotel Insider: The Ritz-Carlton, Dubai
Ms Cupcake is taking baking in new directions
Arts & Culture
Sections
Art
Books
Television
Film
Abu Dhabi Film Festival 2013
Music
On Stage
Latest Arts & Culture Headlines
Fast & Furious 7 begins filming in Abu Dhabi
UAE-made horror movie Djinn takes Dh1 million in its first week
Sharjah Book Fair draws reading fans from all over
Elizabeth Gilbert novel on exotic plants, familiar relationships
Murder on a mountain by an 11-year-old boy
Ann Patchett essay colection shows us how we can change the world
With the world discovered, three great writers worry
Pricey false eyelashes made by vastly underpaid Indonesians
Brazilian police want to question Justin Bieber over graffiti report
Ancient Bedouin verse, the ‘people’s poetry’, has found a new audience
Popular Stories

Fast & Furious 7 begins filming in Abu Dhabi
Sound affects: the growing popularity of ambient music
Fish-out-of-water experience for Iran-born, US-raised author
Opinion
Sections
Comment
Editorial
Feedback
Sport Comment
Culture Comment
Lifestyle Comment
Cartoon
Latest Opinion Headlines
Dubai property deal points the way forward
Questions need to be answered in Arafat plot
Free spirited football in the Fifa U17 World Cup
New US accusations to Assad: reality or a political ploy
Every dog will have its day and ‘Azkals’ say theirs is coming soon
Egypt begins to redraw its relations with its partners
The dark side of the online world, where nothing ever dies
Does Rouhani’s smile exude a real spirit of compromise?
Reports praising bitcoins raise many questions
The right location at the right time
Popular Stories
There is nothing light about the dark art of black magic
Every dog will have its day and ‘Azkals’ say theirs is coming soon
Egypt begins to redraw its relations with its partners
Business Industry Insights Retail
Connect:
Radio:
Feed:
Editor's Picks
Who killed Yasser Arafat?
watches Speculation will now turn from whether late Palestinian leader died an unnatural death to who was responsible for poisoning him. Analysis by Hugh Naylor
Every dog will have its day and ‘Azkals’ say theirs is coming soon
replica watches They sit more than 50 Fifa ranking places behind the UAE, but the Philippines national team, or the “Azkals”, as they are known, go into the friendly football international between the two nations at Zayed Sports City on Saturday with very little fear.
Dubai International Motor Show gears up on the world stage
replica watches Jack Hammond reports from this week’s biennial motor show, which is playing host to a total of 17 global car model launches and 150 of the world’s biggest automotive brands.
In pictures: Amangiri in Utah, USA
cheap watches Adriaane Pielou makes the long journey to the Utah desert to be pampered in the gloriously stark landscape surrounding the Amangiri hotel.
Meet the would-be heroes of the Gulf Roleplaying Community
top brand watches Defying geeky stereotypes, a healthy community of role-playing enthusiasts is flourishing in the UAE. Jessica Hill meets one prominent group’s members and finds that they are far from socially awkward.
Intolerances-friendly restaurants herald a new food dawn in the UAE
replica watches A handful of restaurants across the UAE are finally catering for diners with food intolerances, writes Erin McCafferty.
Blogs
Hesham Malik at The H Hotel
Scene&Heard
AB de Villiers and Faf du Plessis on the convincing South Africa ODI performance in Abu Dhabi
Kit Bag
The best photography from around the region this week: Nov 7, 2013
National View
Look today, own tomorrow: Rihanna for River Island
All Dressed Up
Icons Coffee Couture opens in Dubai
Scene&Heard
Sound & Vision
Video: A preview for UAE Rugby Premiership final
Full screen
In Pictures: The path for Nigeria and Mexico to the Under 17 World Cup Final
Full screen
In Pictures: Wednesday’s Champions League action
Full screen
Video: International Franchise Conference 2013
Full screen
In Pictures: Tuesday’s Champions League results
Full screen
Video: Ford’s latest lineup of vehicles
Full screen
Events
To add your event to The National listings, click here
Topics (What is this)
Abu Dhabi Film Festival
Abu Dhabi Grand Prix Latest
Rent
Restaurant reviews
E-paper
View the paper as it appeared in print
Register here
Download the iPad ereader
Here
App
Keep up to date with the latest news on the move
Get your iPhone app here
Get the most from
Ahmed Seddiqi & Sons, where Abdul Hamied Seddiqi is vice-chairman, has been synonymous with Rolex since the 1950s. Jumana ElHeloueh / Reuters
Watch retailer Ahmed Seddiqi & Sons keeps family legacy growing with time
Frank Kane

October 22, 2013
Updated: October 22, 2013 17:43:00
Save this article

 
Topic
Business Profiles
Entrepreneurs
Business People
What makes Ahmed Seddiqi & Sons tick? I realised it was a rather silly question as soon as I posed it to Abdul Hamied Seddiqi, the vice chairman of the watch retailer omnipresent in every top-end shopping destination in the UAE. But he took it in his stride.“Rolex is the number one product in our portfolio, and the distribution deal we have with them was the basis of the business,” he said, deliberately overlooking my little pun.
We were speaking after a rather grand reception in the Gate Village of the Dubai International Financial Centre for the launch of one of the world’s biggest events of the watch business: the “Grand Prix d’Horlogerie de Genève”, where 69 of the world’s finest watches were on show. The event is known as the “Oscars ceremony” of the worldwide industry, and it was the first time it was being held in the Middle East.
All the top brands were there. But for Mr Seddiqi’s company, Rolex will always have a special place. His firm has been synonymous with the glittering brand since the 1950s, when his father, the late Ahmed, first got the distribution deal that was the making of the business.“My father started with one counter in the souq in Bur Dubai, and we just grew along with the emirate. Now we have 65 shops, either mono-brand [Rolex, for instance] or multi-brand. As the UAE grows, so do we,” he said.
From those humble origins grew one of the great trading names of the region. Now Mr Seddiqi has all the northern emirates covered, and he has recently branched out into Abu Dhabi with a jewellery store.Rolex was the first big brand, but many others followed, and they have remained within the Seddiqi portfolio: Patek Philippe, Chopard, Harry Winston, Audemars Piguet, Hublot, Tag Heuer and Baume & Mercier. The brands read like a watch aficionado’s birthday wish list.
The range was extended with other “fashion” brands to give Seddiqi a full portfolio, from the ultra top-end down to more affordable timepieces.The most expensive single item on regular sale is a diamond-encrusted Rolex, which Mr Seddiqi placed at “around Dh1 million”.As anybody who frequents Dubai’s luxury malls will testify, the watch business is very big in the emirate, as it is worldwide. One estimate of about US$50 billion per year was almost certainly an underestimate, and did not take into account the growing market for vintage and antique timepieces, which has become one of the new trends for wealthy investors.
Customers in Seddiqi stores sometimes seem to comprise overwhelmingly of Emiratis, with a high proportion of female buyers. But Mr Seddiqi believed it extended further than that: “We have all sorts of nationalities – local of course, but also other GCC clients, as well as Chinese and Russian. And we still get other Europeans – British and German – though maybe fewer than before.”Mr Seddiqi is himself a cosmopolitan character. He had worked in the Foreign Ministry of the UAE in the 1970s, then went to Switzerland, the capital of the global watch business, to augment the business acumen his father had already instilled in him.
A bachelor’s degree in business management from Lemania College in Lausanne finally equipped him for a senior role at the company, which the family still manages and controls. Many family businesses in the UAE are struggling with the issues of succession. As the vitality of the founding generation fades, there is often a debate over who should take on the business that has been the foundation of the wealth of the younger generation, which may not be equipped or inclined to run it.
It is not a problem that appears to have troubled Mr Seddiqi, or at least not yet. “We already have four generations on board, and we have been actively restructuring our company all the time. It is well run … [in line with] modern management, and we’ve done everything possible to ensure the future growth of the business,” Mr Seddiqi said.Growth looks likely to come from outside the northern emirates hinterland. Mr Seddiqi has done deals with two jewellery firms in Abu Dhabi – Graff Diamonds and Al Manara – but could go farther afield. “In the future we will probably go outside the UAE. Saudi Arabia is my target for the next phase,” said Mr Seddiqi.
The company has largely been growing organically over the decades, with new stores opening and new brands acquired courtesy of the handsome cash flow the business generates.There have been rumours in the Dubai financial community that Ahmed Seddiqi would be the next family business in the region to consider an initial public offering, enabling it to raise new capital on the local stock exchanges.Mr Seddiqi did not rule it out. “I’ve been thinking, maybe one day. But we’re not ready now. Maybe that will be the job of the next generation. But for now, we want to keep it in the family,” he said.
fkane@
Pages:
Related
■ Opportunities and pitfalls in luxury-sector investments
On the road, in restaurants and on wrists swiss replica watches
replica watches
Advertisement

 


 
 Introducing: Raging Wool
150x150ad.gif

 T-shirts and Gifts for the Fiber-Obsessed

www.ragingwool.com

Polls

Which are you?
 
Webdesign auf Usedom and Joomla