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Ahmed Seddiqi & Sons and HAMG acquire Al Manara Jewellery of Abu Dhabi

Abu Dhabi May 2^nd, 2012 - The UAE's leading timepiece retailer, Ahmed Seddiqi & Sons , today announced their partnership with HAMG in acquiring Al Manara Jewellery of Abu Dhabi.

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," says 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."

Along with outstanding service being a cornerstone of Al Manara International Jewellery's and Ahmed Seddiqi & Son's philosophies, both corporations continue to place enormous value on their employees, manifested through a series of tailored trainings and workshops scheduled to take place over the next few months. Osama Seddiqi - VP, Finance & Administration at Ahmed Seddiqi & Sons and member of the Board of Directors, at Al Manara International Jewellery, elaborated: "Not only does this add to the already alluring ambiance of our boutiques, but also makes for a pleasant and welcoming shopping environment that personifies each clientele's experience" and he continued: "This is part of Ahmed Seddiqi & Sons overall commitment to supporting Abu Dhabi Vision 2030, aiming to transform Abu Dhabi into a global hub of commerce."

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About Ahmed Seddiqi & Sons
Established in 1950, Ahmed Seddiqi & Sons is a family owned and run business synonymous with exquisitely designed watches. From its humble beginnings as a single store in Souk Bur Dubai, Ahmed Seddiqi & Sons has thrived to become the largest retailer of Swiss Brand watches in the Middle East, boasting a portfolio of over 50 prestigious brands across 52 locations in the UAE. The passion for luxury Swiss watches is deeply embedded in Ahmed Seddiqi & Sons family. The Board of Directors and Executive Committee is comprised of the second, third and fourth generation of the Seddiqi family.

About HAMG
HAMG is a diversified investment company headquartered in Abu Dhabi. The firm is headed by its Chairman, Hasan Abdullah Mohamed, and has a broad mandate to invest in various sectors with a particular focus on the Middle East. HAMG's primary focus is on direct investing but maintains an opportunistic element to its investment approach.

About Al Manara Jewellery
Since its inception in 1973 Al Manara Jewellery has fully lived up to the vision of its founder and has come to stay as a distinguished brand serving a most exclusive and dignified clientele. Its success has ensued out of a perfect harmony of creativity, exclusivity and service excellence.
Al Manara has its exclusive showrooms in Al Khalidiya, Hamdan Street, Abu Dhabi Mall, Marina Mall in Abu Dhabi and Al Ain where they showcase these prestigious brands for elite customers. It is associated with some of the most renowned brands in the world including Patek Philippe, Chopard, Audemars Piguet, Harry Winston, Piaget, Christian Dior, Officine Panerai, Baume & Mercier, Hublot, and Tag Heuer.

For Press Enquiries:
Joelle Mehchi
Account Manager
Joelle.m@rawajinternational.com
+971 4 3913560

For more enquiries:
Melika Yazdjerdi
Corporate Marketing Manager
Ahmed Seddiqi & Sons
melika@seddiqi.com
+971505575510

© Press Release 2012

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