Page 42 - Gulf Marketing Review

C - S U I T E

“The beauty of the watch In 1915 by Seddiqi & Sons stores, we have Have the operating expenses of your business
business is that it has a captive watches that start at AED 700, whereas in gone up in the UAE?
JVM TWaJT LTRNV\NTN _QW SNNX WV Ahmed Seddiqi & Sons boutiques, we have The UAE, especially Dubai, is an expensive place
LWURVP KJLS \W \QN [\WZNu watches that go up to AED5 million. to live in. That also makes retailing a high-cost
business to run. Retailers have a number of
And how has been your growth, year on year overhead costs and the high rents are increasing
brands and designers through 1915 by so far, and compared to last year? the cost of doing business.
Seddiqi & Sons, which is a subsidiary of Ahmed It’s been good and steady this year. The beauty
Seddiqi & Sons. of watch business is that it has a captive and What is the profile of your customers especially
loyal clientele who keep on coming back to the loyal customers that buy your watches?
And do you also advise customers what your store to buy watches that they have been At Ahmed Seddiqi & Sons we welcome customers
brands they should wear? waiting for. from a range of different backgrounds and cultures,
We do not steer our customers towards however, they all have one thing in common – an
buying a specific brand, but we definitely Have the prices been impacted due to the appreciation for luxury Swiss watches.
advise them. prevailing economic condition?
Our sales staff are trained to understand At Ahmed Seddiqi & Sons, we regularly mon- So what exactly do your customers look for
what the client is looking for, their style and itor the prices of Swiss watches compared to -- the product or the experience?
budget. We understand what the client’s need other markets and we do not set the prices Most of our customers look for both. When it
is and we cater to it. on our own. comes to the luxury sector, customer service
Our retailing model is based on an agreed plays a key role in the overall journey, particu-
What is the price range of watches sold at price list with the brands, which keeps our larly in the watch industry, where the purchase
your boutiques? prices aligned with the international level. being made is considered an investment.

42 I GULF MARKETING REVIEW I DECEMBER 2017/FEBRUARY 2018