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How do you plan to use the DJWE as a launch pad for expanding sales in the state of Qatar?
Doha Jewellery and Watches Exhibition is the most ideal platform for us to showcase our most reputed and applauded brands. The exhibition attracts attendance from some of the most influential and affluent people who appreciate luxury and have a keen eye for the very best in modern design and aesthetics. This helps us introduce our new collections as usual and market our products to a wider audience, thus expanding the sales.
What will you be showcasing at the DJWE 2015?
This year, Fifty One East’s pavilion stands out with a new concept that cleverly blends the international appeal of the world’s three most prestigious brands of Rolex, Chanel and Boucheron clubbed with Fifty One East’s distinctive more than 65-year heritage of service excellence, taking inspiration from Qatar’s history as its theme.
Our esteemed patrons will witness the perfect blend highlighting our rich Qatari culture and the allure of the globe’s most respected and impressive watches and jewellery makers. Guests will be left enchanted with our breathtaking selection of timepieces and our equally impressive jewellery collections featuring trusted brands like Rolex, Rolex Cellini, Boucheron, Chanel, Tudor, Pasquale Bruni, H. Moser & Cie, Bremont and much more.
What is your corporate message at the DJWE 2015?
Doha Jewellery and Watches Exhibition is an important platform to show our capabilities and brands and to reiterate that we are the leading choice and destination for watches and jewellery that appeals to everyone’s taste and personality in an elegant and private environment. We aim to showcase our rich legacy in Qatar; we are the dealers of high-end international brands, and offer something for everyone, regardless of the age, style, or trend. Fifty One East, along with all of our partners, symbolizes luxury, modernity, uniqueness and perfection.
In the past year, the transition to the new exhibition center had faced some challenges for visitors and exhibitors. Are incentives different this year?
There has been great and close cooperation with the QNCC team to guarantee a smooth transition of our goods and items and finish the preparations. Organizing the exhibition this year will be different and we will take advantage from the past years’ experience to avoid any gaps that have occurred. At the same time, we are confident of the organizer’s wise decision of choosing the appropriate venue and we will support that decision.
The GCC market is witnessing a remarkable increase in retail spaces, how do you evaluate this movement in Qatar and what are your expectations?
GCC market is an important market for any kind of business especially retail. In Qatar this business is witnessing an impressive growth. But we are confident of our position and strength, relying on our successful history in the market and deep knowledge of our patrons’ needs and requirements, the brands that we solely represent since decades, and the very high quality of service that make us their favorite and first choice. We have been able to successfully retain our market leadership over the years due to the trust of our patrons and are confident that our unparalleled services, unique initiatives and commitment to the local market will keep us ahead of the game.
The Qatari market is attracting more jewellery and watch brands, what is the reason for it? Do you think the local market can take more?
Qatar is the richest country in the world with the highest per capita income. The market is witnessing a healthy growth, increased liquidity and increased awareness and acceptance of luxury brands with significant contributions to the global luxury market that confirms the need for international brands to be present in the market. Our local market is a high spending one, and there is a window to embrace more global brands, although at present Fifty One East offers access to some of the most recognized and lauded international brands.
What is your expansion strategy for promoting the image and boosting retail sales in Qatar?
In Qatar and the region, Fifty One East is a very well recognized store that is acknowledged by all. We are well positioned in Qatar since the late 1940s. Our stores are located now at Al Maha Center, City Center Doha and Lagoona Mall. At Lagoona Mall we have our anchor store with state-of-the-art technologies and most sophisticated style of display. We are taking the luxury retail business in Qatar to the next level, and creating a new concept that is in line with our vision to be the most exclusive address for a style-savvy population seeking the best life-enhancing elements.
Fifty One East represents many elite brands, do you plan to expand, add more names to this portfolio?
The brands that Fifty One East represents are the most re-known brands in the world. We have a long-standing history with most of them which resulted in a strong and unique relationship of mutual trust. At the same time, Fifty One East is growing and so is our portfolio of the prominent names. Many brands expressed their will and interest to make Fifty One East their favorite retail store. We are open of course to add more names to our portfolio, but we always take care of what we add to our bouquet as our core philosophy is anchored on the belief that only the finest attracts the best.
Planned for March 2015 is the opening of the new CHANEL Watches & Fine Jewellery boutique which is set to be the biggest in the Middle East region with a store size of 160 sq.m. The new state-of-the-art boutique is designed by the internationally renowned architect Peter Marino.
The local and regional markets particularly in the gold, watches and jewellery arena are intensely competitive. How does Fifty One East intend to stay ahead of the pack?
Fifty One East is and will remain Qatar’s favorite department store. Driven by unfaltering customer loyalty, immeasurable retail know how and a diligent belief in its commitment towards providing its community with nothing short of the most quality brands, Fifty One East epitomizes modernity fused with the essence of the Orient. We have a very strong relationship with our clients; give them the best products and services from all over the world and from some of the most reputable fashion and jewelry houses. We will continue to move forward and keep up with the latest trends and styles. Competition is part of the business and what we focus on is to maintain our existing customers, give them the best experience ever, and attract more categories that appeal to our products.
What is your assessment of the jewellery and watches trend among young people? Are more young people being attracted towards gold and jewellery?
Of course the style preferences vary between the old and the young. Maybe young people are attracted more to fashion or modern, minimal jewellery, and that’s why they still look for nice designs that appeal to their style and age. Also, when it comes to watches, the younger generation shares a quest for innovative models with a merging point of quality, modern technology, traditional elegance and trusted reliability. Gold is Gold! It will never lose its brightness and importance in terms of decoration, value or luxury.
Are ‘Special Orders’ an important constituency of your retail business? What percentage of sales do ‘Special Orders’ constitute?
Indeed, many people would like to have something unique, something that reflects their own personality and individuality, and something that they only acquire or at least a few only own. This is a trend which is becoming more popular these days and at Fifty One East, we give special attention to these orders and constantly engage with our clients to understand their needs and cater to their specific requirements. Our bespoke service, which we have been offering for a long time is done at the discretion of our patrons.
What is your vision for Fifty One East for the near and long-term future?
At Fifty One East, we are indebted to our loyal customers who have trusted us over the years. We never forget that our customers have chosen us, motivating us to work even harder to deliver the best in service together with exceptional products. We will continue to be the first choice for all those looking for uniqueness, exclusivity and aesthetics.