Fourth generation takes the helm at renowned regional jewellery group; outlines new brand direction and growth plans
Dubai, November 2nd, 2010: Mouawad, the 120 year old jewelry house, today discusses the official handover of the company reins from Robert Mouawad to his sons, Fred and Pascal. The brothers are now the fourth generation family members to lead the business.
Founded in Lebanon in 1890, the company first made its name as jeweler to royal families across the region, and now counts Hollywood 'royalty' including Nicole Kidman and Angelina Jolie among its clientele. Today, the Mouawad brothers take control of a family business; retail interests and manufacturing centers across Europe, North America, Asia and the Middle East.
With a new direction for the fourth generation, the brothers and co-guardians of the brand today unveiled their plans for Mouawad's evolution. "It is an honor to take over the leadership of the Mouawad Group, whose prestigious reputation has been built by three previous generations of our family," said Fred Mouawad. "As co-guardian of the brand with my brother Pascal, together we aim to continue the rich heritage of Mouawad while taking it to new heights and increasing the reach of the brand internationally."
"Both Fred and myself have spent more than a decade contributing to the Mouawad success story and are grateful for the trust placed in us by our father to carry the Mouawad Group into the future," said Pascal Mouawad. "Our vision is to broaden the reach and audience of the Mouawad brand through more accessible price points and by expanding into other luxury goods while maintaining our obsession for quality and perfect craftsmanship.
"Next week, we are opening the first new Mouawad generation store in Dubai Mall," continued Pascal. "For 2011, we have even more ambitious plans, with the opening of three new stores in Beirut, a major refurbishment of our outlets in Riyadh and Jeddah, the diversification of the Mouawad brand into accessories, and launches of new watch and jewellery collections."
"We have a loyal and trusted customer base here in the Middle East, and it is vital for us to retain our regional roots while establishing Mouawad in its rightful position as a world-leading jewellery house and luxury goods company," said Fred Mouawad. "With the growth and diversification of the brand, we will not only introduce Mouawad to a wider global audience but also bring jobs and opportunities here to the Middle East."
Over the past 40 years, Robert Mouawad (the grandson of Daoud Mouawad) - a master jeweller and diamond collector - transformed his family business into a global empire, and the decision to retire from the family business and the industry to which he dedicated his life to was not an easy one. After a lifetime of achievements, he leaves his sons one of the world's most prestigious jewellery houses, built from scratch over more than a century.
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About Mouawad
Backed by more than a century of excellence in its field, Mouawad designs, manufactures and sells its own exclusive jewelry collections ranging from boutique items to objets d'art and magnificent haute joaillerie pieces. Founded in 1890, the company rose to prominence by supplying important jewels to many royal houses and wealthy individuals across the world. Today, in its fourth generation of the Mouawad family, it counts modern day 'royalty' - iconic Hollywood celebrities - among its prestigious clientele. In addition to crafting fine jewelry, over the years the Mouawad family has acquired a collection of diamonds that is arguably the world's finest in private hands. The family's support of the global industry through research and education led to third generation Robert Mouawad receiving a Lifetime Achievement Award from the Gemological Institute of America (GIA) and of having the GIA campus named in his honor. The vision of the fourth generation Fred and Pascal Mouawad as guardians of the brand is to continue the rich heritage of Mouawad by maintaining the focus on haute joaillerie and also widen distribution through contemporary and accessible price points to reach a broader customer base worldwide.
For media information contact:
Zeina Hakam or Emma Jones at ASDA'A Burson-Marsteller
T: +971 4 3344550 | M: +971 50 877 3400 /+971 50 850 1273
Email: z.hakam@asdaa.com / e.jones@asdaa.com
www.mouawad.com
© Press Release 2010
