The UAE's leading timepiece retailer Ahmed Seddiqi & Sons today announced that it had acquired Al Manara Jewellery of Abu Dhabi in partnership with HAMG.
The move came as a result of a strategic business partnership between the two companies who aligned their strategy with Abu Dhabi given the market is well on its way to providing world-class retail experience for the capital’s savvy luxury enthusiasts.
Since its inception in 1973, Al Manara Jewellery has been regarded as one of the most respected chains of luxury watch and jewellery boutiques in Abu Dhabi with a strong portfolio of brands.
The transaction had the full support of Al Manara’s senior management who commended the decision by the new management to retain the existing workforce. The newly appointed Board of Directors also took the decision to revise the name to Al Manara International Jewellery.
“We are a family-owned and run company which has been built on passion, trust, loyalty, and to be entrusted by Al Manara Jewellery is a testament to their confidence and sharing of the same values and principles. The acquisition was a strategic decision for Ahmed Seddiqi & Sons and the partnership with HAMG in Abu Dhabi was a natural fit given their experience in the luxury sector and the synergies brought to the partnership which will accrue to Al Manara International Jewellery,” said Abdul Hamied Seddiqi - Vice-Chairman, Ahmed Seddiqi & Sons and Chairman of the Board of Directors at Al Manara International Jewellery.
Hasan Abdullah Mohamed, Vice Chairman of the Board of Directors at Al Manara International Jewellery, said: “HAMG believes in long term investments, ensuring all partnerships are built and fostered with the right values, preserving the identities and uniqueness of all ventures. We trust that Ahmed Seddiqi & Sons, the region’s leading luxury Swiss watch retailer, will fully complement Al Manara International Jewellery’s positioning within the Abu Dhabi community, further enabling its distinguished and loyal clientele to benefit from an expansion of the brand lines and locations.”