WatchBox used Dubai Watch Week to announce it will open an additional outpost in the capital of Saudi Arabia, Riyadh, next year.
Dubai Watch Week is run by Ahmed Seddiqi & Sons, WatchBox’s joint venture partner in the Middle East, and the two companies will also work together on the Riyadh venture.
WatchBox says it has achieved remarkable growth since opening its first retail outlet in Dubai in 2019. It has grown on the back of establishing relationships with collectors across the region, and curating a dynamic inventory to meet the tastes of the local market.
“We’ve witnessed fantastic success and response to our joint venture with WatchBox over the last two years,” says Mohammed Seddiqi, chief commercial officer of Seddiqi Holding.
“We look forward to the next chapter as WatchBox Middle East continues to expand across the region and appeal to a wider audience of collectors and enthusiasts new to the space.”
WatchBox recently announced a successful funding round that raised $165 million from private equity firms and existing investors.
That money is being put to work opening WatchBox lounges in several cities across the United States as well as locations around the world.
“Our strategy revolves entirely around the interests of our community, sharing in their collecting journey, and bringing to life personal, high-touch experiences. We’re excited to bring the WatchBox concept to Saudi Arabia with the support and guidance of the Seddiqi family, who have paved the way in delivering a standard of excellence for product, service, and sharing in the passion of watch collecting,” says Justin Reis, WatchBox co-founder and global CEO.
