Time for a chat
Kipp speaks with Mohammed Abdulmagied Seddiqi, vice president of Sales and Retail at Ahmed Seddiqi & Sons about the watch industry, and how it’s been affected by the crisis.
August 22, 2009 6:55 by Dana El Baltaji
Kipp: What’s the difference in sales trends between locals and expatriates?
Seddiqi: It depends on the brand. There are some brands Emiratis focus on, which expatriates are generally not interested in. For instance, Emiratis make up 65 to 70 percent of Chopard buyers, whereas expatriates and tourists prefer Tag Heuer.
Kipp: Do you think buyers in the region are aware of how intricate luxury watches are, or do they purchase these watches as status symbols?
Seddiqi: Ten years ago, people would have bought watches because they were a status symbol, or because Mr. X has a similar one, but that attitude is fading.
Today, we feel that people are more educated about the watches they buy; they want pieces because of their craftsmanship, and not because they’re expensive and fashionable. It’s an important shift.
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