WatchBox and Ahmed Seddiqi & Sons Announce Joint Venture in the Middle East
Fueled by the rapid growth of the high-end secondary watch market, this exclusive partnership will introduce WatchBox's pre-owned timepieces, services, and expertise to the Middle East
PHILADELPHIA, Nov. 11, 2019 /PRNewswire/ -- WatchBox, the global leader in pre-owned luxury timepieces and Ahmed Seddiqi & Sons, the Middle East's most respected and established luxury watch retailer, today announced a joint venture to launch WatchBox Middle East. This partnership brings expertise in the secondary watch market to the region through WatchBox's signature 'electronic trading' platform, and also marks the debut of its retail footprint. A flagship WatchBox boutique dedicated to luxury pre-owned timepiece services—including buying, selling, and trading—will be unveiled in the Dubai International Financial Centre (DIFC) in November 2019.
"This partnership signifies a very important milestone for the luxury watch market in the region," stated Mohammed Abdulmagied Seddiqi, Chief Commercial Officer of Seddiqi Holding. "We want to create a safe space for those looking to invest in a second-hand luxury watch, and we believe that it is our duty to drive this movement into the second-hand space. WatchBox is a renowned global leader in the industry and we are thrilled to join forces with them, not only to provide this exciting concept to Ahmed Seddiqi & Sons' customers, but to revolutionize the sector across the Middle East."
"WatchBox's expansion strategy is built upon developing a truly connected global marketplace and targets geographic regions with a strong growth forecast for the luxury watch segment," shared Amanda Ellison, Global President and Chief Operating Officer of WatchBox. "The Middle East represents a massive opportunity for the pre-owned watch category, and there is no better partner to help us deliver a standard of excellence for both product and service than Ahmed Seddiqi & Sons."
The boutique and partnership will expand offerings and services available to Ahmed Seddiqi & Sons' clients through an elevated approach to the pre-owned sector. "Through the relationship between WatchBox and Ahmed Seddiqi & Sons, customers will be granted many options beyond purchasing new watches. They will be able to initiate trades with pieces from their personal collections for new timepieces from Seddiqi-owned boutiques, sell pre-owned watches directly to WatchBox, and trade or purchase pre-owned watches from WatchBox's $80 million global inventory—all with transparency and ease," Danny Govberg, co-founder and CEO of WatchBox, shared.
By striking a balance between technology and white-glove service, WatchBox Middle East will offer a personalized approach for watch buying, selling, and trading according to customer needs. The trading platform is designed for today's connected customer and will enable access to highly trained, educated concierge-style associates by the client's preferred method; phone consultation, email, live chat, in-app messaging; as well as the option for a click-and-buy transaction.
These services will also be available in the flagship boutique, where local watch enthusiasts, consumers, and international visitors can anticipate a truly unique experience in education and enjoyment. Interactive technology and multimedia will allow visitors to gain a deeper knowledge of horology as they browse a curated inventory of pre-owned watches for sale. Visitors will also enjoy streamlined access to WatchBox's global inventory, which provides guaranteed authenticity and a 2-year international warranty on each piece purchased.
"Dubai has observed an unprecedented interest in high-end horology," added Govberg. "The success of Dubai Watch Week and the arrival of several important watch auctions in the region affirm our belief that the UAE consumer is eager for watch knowledge and access to unique product, both of which we are thrilled to bring to Ahmed Seddiqi & Sons."
WatchBox Middle East will make its formal debut in the region during Dubai Watch Week, with several events and activations scheduled to mark the occasion.
Translations + Images: Access French and German versions — http://bit.ly/2qyGvpm
ABOUT WATCHBOX
WatchBox is the world's leading platform for the buying, selling, and trading of pre-owned luxury timepieces; fueled by technology, innovation, and unmatched global experience in the high-end watch market. WatchBox offers an unrivaled selection of pre-owned luxury timepieces for sale and its client services for selling and trading timepieces are streamlined and readily accessible both on and offline, with private showrooms and buying offices in Philadelphia, Hong Kong, Singapore, Switzerland, South Africa, and the Middle East. Trust, pricing transparency, and authentication are central tenets to WatchBox's platform, with each watch thoroughly evaluated by in-house master watchmakers and accompanied by a 2-year international warranty. www.thewatchbox.com
PRESS CONTACT
Caroline Kallman Joffe | [email protected] | +1 717 951 2259
ABOUT Ahmed Seddiqi & Sons
Ahmed Seddiqi & Sons is the UAE's leading retailer of luxury watches & jewellery. Established in 1950, the company has continuously developed and nurtured the needs of its clients through the combination of expert curation of its portfolio and commitment to service excellence. Today, the company is recognised as a pioneer amongst retailers in the region, with an extensive collection of over 60 luxury timepiece & jewellery brands across 50 locations in the UAE. Led by the dynamic members of the second, third and fourth generations of the Seddiqi family, the organisation commits to servicing the region's collector base whilst doing its utmost to promote the skill, craftsmanship & innovation associated with fine watchmaking for decades to come.
PRESS CONTACT
Shruti Dileep | [email protected] | +971 4 511 8605
SOURCE WatchBox
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