Abdulmagied Ahmed Seddiqi, co-owner of Seddiqi Holding, has passed away according to a statement issued by the family. His legacy of leadership is carried on by his brother, Abdul Hamied Seddiqi, Chairman of Seddiqi Holding, and by his son, Mohammed Abdulmagied Seddiqi, who is Chief Executive Officer of Ahmed Seddiqi, the leading luxury watch retailer in the United Arab Emirates.

Abdulmagied Seddiqi (right) with his brother Hamied Seddiqi. Image – Ahmed Seddiqi

Empire builders

Now the most important retailer of luxury watches in the Middle East, the Seddiqi family business was founded in 1950 as Ahmed Seddiqi & Sons. The original location was in Dubai’s historic Bur Dubai souk, a market that opened in the late nineteenth century.

Ahmed Seddiqi operates the world’s largest Rolex boutique at the Dubai Mall. Image – Ahmed Seddiqi

In 1960, Ahmed Seddiqi & Sons became the first retailer of Patek Philippe in the UAE, expanding its portfolio beyond Rolex, which it had carried since 1952.

The move to establish a luxury watch retail empire in Dubai the 1950s was prescient. This early foothold positioned Ahmed Seddiqi & Sons for the region’s extraordinary growth, but it was the leadership of Abdulmagied Seddiqi and his brother, Abdul Hamied Seddiqi, that led to the commanding position the firm now occupies.

Abdulmagied Seddiqi prepared to inherit the mantle of the family business by attending university in Switzerland and mastering French, cultivating experience and connections that would later make him an impactful leader.

Seddiqi today

Now known simply as Ahmed Seddiqi, the third-generation retailer carries more than 100 brands in dozens of boutiques across the UAE. The group evolved into Seddiqi Holding in 2007, bringing the watch business and the family’s other interests, including a real estate investment firm, under one roof.

Ahmed Seddiqi Chief Executive Officer Mohammed Abdulmagied Seddiqi.

It’s worth noting that Ahmed Seddiqi played a crucial role in the development of regional interest in independent watchmaking, and was among the first retailers to support independent brands like MB&F, helping them establish a presence in an increasingly important market.

The Seddiqi family has also been the driving force behind Dubai Watch Week, which has emerged in recent years as one of the industry’s most important events under the leadership of Hind Seddiqi.