The majority of the company’s customers are UAE residents and residents of other countries, such as India, China, Germany, and the United Kingdom. Dubai Rolex watches
You might expect a member of the royal family or a sheik to be placed at the top of the 4,000-person waiting list in the United Arab Emirates when they want a Rolex. Right?
Not always, according to Mohammed Abdulmagied Seddiqi, a chief commercial officer of Seddiqi Holding, which owns a Swiss watch retailer in the United Arab Emirates. A royal will get a watch for themselves if they want one. However, according to Seddiqi, the company may be more selective if they are looking for watches to give as gifts to dignitaries or perhaps royalty from other nations.
He states, “Some people really take it personally.
Ahmed Seddiqi & Sons, which operates the world’s largest Rolex store and is the only authorized Rolex distributor in the emirate of Dubai, is currently dealing with this as one of many positive issues. By the value of exports, the Swiss watch industry is on track for its best year ever thanks to rising demand over the past two years.
According to the Federation of the Swiss Watch Industry, the value of Swiss watch exports in the 30 largest markets of the industry during October was 13.3% higher than during the same time last year. With 13.8%, the UAE’s growth slightly exceeded that. Because of this, the nation of approximately 10 million people is the ninth-largest market for Swiss watches worldwide.
According to Seddiqi, “We’ve reached a point where we’ll have a watch available, and we call a client and say we have a watch, and they say, ‘Yes, I am coming.'” They never inquire about the model. Anything we get, they take it.”
Since opening its first UAE location in 1960, Seddiqi & Sons has operated more than 50 locations throughout the nation, including four Rolex boutiques. One of the two Rolex stores in Dubai Mall is the world’s largest Rolex store, which is three stories tall.
The majority of watches on display at Rolex boutiques are not for sale. According to sales associates, none in the store last longer than a day or two.
The stores were closed at the beginning of the Covid-19 pandemic. Soon, bored customers at home began placing delivery orders and spending their money on luxury goods without seeing them. Because everyone else was buying them, people who had no knowledge of watches desired one.
Seddiqi exclaims in disbelief, “I was with a client a week ago, and he was wearing a Rolex Daytona, and he didn’t know the function of the watch.” The Daytona is a chronograph, which is a type of watch that is both a stopwatch and a regular timepiece. Collectors consider it to be one of their most sought-after models.) It has nothing to do with functionality. It’s all about being hot. They only want it for that reason.”
The organization keeps up with arrangements of clients who get certain watches and arrangements of the individuals who don’t. There are a maximum of 4,000 Rolexes on the company’s waitlist. Patek Philippe watches can only produce between 20 and 30 times as many watches as Rolex does annually. customers.
One thing that will undoubtedly result in your shadow ban or discrete removal from the list:
is a watch turning? The watches must be sold by the Seddiqi company at the suggested Swiss retail price. Seddiqi claims that he has witnessed individuals flip watches for a few thousand dollars, some of whom have more wealth than you could possibly imagine in a lifetime. How can he be sure? He claims that over the course of decades working in the industry, he has developed contacts who are knowledgeable about flippers.
The majority of the company’s customers are UAE residents and residents of other countries, such as India, China, Germany, and the United Kingdom.
Seddiqi is undertaking a sort of educational mission in order to convert all of these new customers into watch enthusiasts for life. He says he wants to make the second floor of the Rolex store in Dubai Mall, which used to have a lot of other watches made of gold and precious stones, a place where people can learn more about watchmaking. According to him, the company could fly in experienced horologists to open watches, conduct demonstrations, and explain aspects such as the gears’ technical movement.
Seddiqi claims that the procedure would help customers comprehend why it takes so long to obtain a watch. He recently flew some devoted customers to Switzerland to observe watchmakers at work. World News Spot