(MENAFN - Khaleej Times) The UAE ranks among the top 10 countries importing Swiss watches, translating into a value of 488.8 million Swiss francs for watch imports alone.
This is according to the 2012 first-half results released by the Federation of the Swiss Watch Industry.
The luxury timepiece retail sector within the UAE is going from strength-to-strength and is currently the only Middle Eastern country to be featured in the top 10 round-up, ahead of Saudi Arabia (14) and Qatar (21).
As the leading retailer of luxury timepieces, Ahmed Seddiqi & Sons offers the largest portfolio of Swiss watches, including A. Lange & Shne, Patek Philippe, Audemars Piguet and Rolex. It remains optimistic about the future of the Middle East's consumer market.
Encouraged by the appetite of patrons and growing consumer interest, Ahmed Seddiqi & Sons opened eight new retail outlets in the first half of 2012 and currently operates 58 outlets across the UAE.
"The UAE's consumer market has witnessed a shift in buying patterns similar to the global market, but it is a positive sign that consumers from both the domestic and overseas market are once again interested in luxury Swiss timepieces. We have seen a steadying of demand and returning of consumer confidence and are pleased to be able to offer one of the largest selections of Swiss timepieces in the region," said Mohammed Abdulmagied Seddiqi, vice-president for sales and retail at Ahmed Seddiqi & Sons.
"Our mandate remains to surpass the expectation of our customers and we are confident that through the introduction of new brands, limited editions and established favourites, we will continue to attract watch enthusiasts and fashion forward customers... we look forward to sharing our extensive range of timepieces with customers," he added.