Ahmed Hasan Fitaihi Company, a highly-respected local jewelry manufacturer and dealer of famed international jewelry and luxurious gifts, opened the company's first showroom at Al-Olaya Street, Riyadh, as part of its grand expansion plan to have several showrooms in the Kingdom.
Sheikh Ahmed Hasan Fitaihi, Chairman of Fitaihi Company, some members of the Board of Directors and the company's executive group attended the opening ceremony.
Engineer Anis Jamjoom, Managing Director and Chief Executive of Fitaihi Co., said: "The opening of the new showroom comes in the framework of our new strategy to expand geographically. We plan to open other similar showrooms in Jeddah and Al-Khobar in the coming months."
Jewelry consumption is a barometer of the country's economic condition and Fitaihi's expansion is a manifestation of the Kingdom's solid economic growth. Jamjoom estimated the market value of jewelry in the Kingdom at about SR6 billion annually, this is in accordance to the latest statistics prepared by DTC who are specialized in this area. He expected the growth in this market to continue in view of the stable value of diamond and model varieties which satisfy the most demanding tastes.
Fitaihi are well known pioneer jewelers in luxury products including crystals, chinaware, fashion, textile, leather items, accessories, bed linen and home furnishings, antiques, silver ware and others. It is the first public joint stock company in Saudi Arabia for jewelry and luxury items.
Over the years, Fitaihi has become synonymous with global quality and exclusive jewelry. It took the company almost a year to design and decorate the Fitaihi Al-Olaya just to ensure harmony between customers' needs for luxury items and shopping freedom yet with privacy.
"The new showroom offers the people of Riyadh a distinguished and easily accessible location," Sheikh Ahmed Hasan pointed out. The showroom contains distinctive collections of diamond jewelry, watches, artworks, antiques, in addition to men's and women's accessories.
A special section in the new showroom is devoted for Scintilla Monaco, the renowned diamond jeweler brand from Monaco. Fitaihi is the official dealer in Saudi Arabia for this globally famous name. The Scintilla Monaco boutique, designed to reflect the ambience of other Scintilla boutiques in the rest of the world, will offer new collections for 2007 which feature distinguished individuality and uniqueness.
Fitaihi Company owns two top-class department stores, one in Jeddah and the other one in Riyadh under "Fitaihi" brand name. In addition, it has two jewelry outlets in Jeddah. Fitaihi also owns the Geneva-based Marina Bvlgari chain and the "Marina B" brand name, which was established by the globally-renowned designer Marina Bvlgari, the granddaughter of the famous brand owner. Marina B exports its products around the world including Europe, GCC and Japan.
In late 2003, Fitaihi launched the first jewelry outlet in Saudi Arabia managed entirely by Saudi women.
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The history of Fitaihi represents the strong and unique relationship with the classy communities in Saudi Arabia in particular and the Arab world in general. The name goes back to 1907 when Sheikh Ahmed Fitaihi, grandfather of Sheikh Ahmed Hasan Fitaihi, opened the first silversmith shop in Makkah.
In 1964 Sheikh Ahmad, jointly with his father, established a limited liability company under the brand name "Fitaihi". Since then, Fitaihi has become a part of the social fabric of the Saudi community. In 1984 Fitaihi opened the first department store in Saudi Arabia, which permanently defined the Fitaihi name as a provider of luxury items and services to society's elite. Fitaihi followed with a second department store in Riyadh in 1993.
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© Press Release 2007
