Capillary Technologies eyes Saudi market

Capillary Technologies Founder and CEO Aneesh Reddy with Veda Holding Founder Fahad Alhokair signed the joint venture agreement.
Updated 23 September 2019

Capillary Technologies eyes Saudi market

Capillary Technologies, a software product company headquartered in Singapore, has entered the Saudi market, offering cloud-based software solutions to retailers and manufacturers.

Capillary has signed a joint venture agreement with Veda Holding, leading to the formation of a Saudi entity named “Capillary Arabia.”

The Riyadh-based Veda Holding was established in 2017 by Fahad Alhokair.

Capillary Technologies Founder and CEO Aneesh Reddy told Arab News: “Capillary is a 11-year-old firm, we started in 2008 from India and expanded to about 30 countries globally. We have 14 offices across China, Middle East and Southeast Asia.

“Over the decade, we have worked with hundreds of retailers, consumer brands and manufacturers on cloud-based software solutions, helping them to collect their customer data, derive actionable insights, connect one-on-one with consumers, set up an omni-channel store and build loyalty with consumers.” 

He said artificial intelligence forms an integral part of their platform. “We have built the VisitorMetrix product, which accurately measures store visitors, gives detailed information on visitor demographics and stores conversion metrics. In the online world there are many tools available. We are the first one to build an offline click-stream, helping retailers know everything from store visit to purchase,” Reddy added.

He said that the company has worked with a number of large retailers in the Kingdom, such as Pizza Hut, Majid Al-Futtaim Group, KFC, Landmark Group, Herfy, and Alhokair group.

The company has had operations in the Middle East since 2012 and was dealing with customers in Saudi Arabia through its Middle East office.

“Saudi Arabia seemed to be a market where we did not have much of a presence, which is why we felt we should do a joint venture with one of the larger groups here and we saw great synergy with Veda Holding,” Reddy said.

“Under the joint venture with Veda, the product and the technology comes from us, while the local understanding and support comes from Veda. So it is a win-win situation for customers as most customers want us to have a local presence here and provide local support,” he added.

Reddy said consumers in the Kingdom are digitally aware as Saudi Arabia has one of the highest number of internet users in the world (80 percent).

“A very clear goal of Saudi Vision 2030 is the generation of more jobs in the retail sector and the focus on organized retail penetration up to 80 percent. This is aligned with what we aim to do in the retail market here. Vision 2030 also focuses on e-commerce and our products help in accelerating digital transformation in the Kingdom,” he added.


IWC Schaffhausen opens new boutique in Riyadh

Updated 05 July 2020

IWC Schaffhausen opens new boutique in Riyadh

Swiss luxury watch manufacturer IWC Schaffhausen has launched a new boutique at Mode Al-Faisaliah Mall in Riyadh. Known for their timeless innovation and technical ingenuity, IWC’s latest addition to its client experience-centric boutiques in the region has opened in partnership with Attar United. The store is strategically located in the capital city’s ultimate luxury retail destination.

“At Mode Al-Faisaliah IWC Boutique, watch enthusiasts and collectors can expect to embark on a memorable shopping experience with personalized attention from client advisers who focus on every discerning customer’s requirement,” a statement said.

“Guests can discover our latest Portugieser collection with novelties such as The Portugieser Perpetual Calendar 42. With storytelling at the core of the brand and its numerous successful partnerships, each experience at the boutique is interesting and educational from the moment you walk through the doors until the end of every visit. With the aim of catering to the needs of every trusted client and prospective new customer in Riyadh, the Mode Al-Faisaliah boutique is committed to making every exciting and emotional journey of buying an IWC Schaffhausen watch, a special one.”

Stretching across 110 square meters over a single story, the boutique will house limited-edition timepieces. The store pays homage to the brand’s expertise and craftsmanship in watchmaking. Every corner of the new boutique is designed by IWC Schaffhausen’s in-house architects and aesthetically aligns with the brand’s unique identity, which is seen through personalized touches, finishes and textures including soft beige hues and dark wooden accents. This offers both a masculine and welcoming atmosphere that is the perfect setting to showcase IWC Schaffhausen timepieces.

“IWC is excited to unveil this new boutique in Saudi Arabia with our partner Attar United. We consider the Saudi market to be one with strong growth potential and have been eagerly awaiting this boutique opening for a long time. The layout of the space is centered around luxury with a cozy feeling, to make it welcoming to all customers and keep them at ease. With shoppers in Saudi wanting more close and trusted brand relationships, the arrival of this new boutique falls in line with IWC Schaffhausen’s pivotal goal to foster strong client loyalty,” said Mehdi Rajan, regional brand director of IWC Schaffhausen for the Middle East, India and Africa.

CEO of Attar United Company Mohammed Saddik Attar said: “Our partnership with the Swiss watchmaking brand, IWC Schaffhausen, is one that is of great importance to us as this signifies the first of many collaborations in the booming landscape of luxury boutiques opening in the Kingdom.”

With a growing community of loyal customers, collectors and fans in the Middle East, Saudi Arabia is indeed an ideal location for IWC Schaffhausen.