3 Ways to Protect Your Company from Ad Fraud
30 January، 2020
How Did Jeff Bezos Put Amazon Ahead of the Competition?
30 January، 2020
In Saudi Arabia, the Fتيحي family name has long been associated with gold and jewelry. It began with a modest shop in the heart of Jeddah about 110 years ago, and grew into major companies
At home and abroad, they rival the finest European brands. Success in this world takes more than business acumen: above all, it calls for refined taste.
and expert craftsmanship to keep up with fashion and satisfy the tastes of an open-minded world.
The rise of the Fتيحي family was no accident. It traces back to the great-grandfather, known for his passion for silverwork as early as 1887. However, the step
The journey began in 1907, when Hassan F. Fityahi opened the first shop bearing the family name in the famous Gold Souk in the heart of Jeddah. The business grew and expanded over time,
with the family’s craft and trade flourishing and passing from one generation to the next.
.
تبخير الدكان
From an early age, son Ahmed Hassan Fitaihi (born in 1942) began learning the trade from his father. He accompanied him to the shop every day, which played a major role
in developing his business acumen. At first, his duties were limited to preparing incense and perfuming the shop—a common practice in the old markets of Jeddah—but
In addition to fumigating, he observed and learned how to sell, welcome customers, and treat them well, picking up from his father and the shop workers everything related to
trade and jewelry making.
Later, his son Ahmed began helping craft silver using an old-fashioned manual blowpipe. Little by little, he found himself immersed in the world of gold and jewelry, and he
worked for the Fattihi family alongside Indonesian workers who had been in the profession for many years. They would come to perform Hajj, while the family traded in gold in Mecca and lived in Jeddah.
ومع ازدياد الأرباح وتوسع الأعمال، اشتد مرض الوالد حسن فتيحي، فطلب من الابن التفرغ للعمل معه وترك الدراسه، واستجاب الابن لوصية والده
and became a familiar face among customers, at a time when there were few shops.
But despite his work and his regular presence at his father’s shop, Ahmed did not give up his education. He continued studying at home and managed to earn his
secondary school certificate in 1960. Four years later, he got married, and his father rewarded him by making him a one-third partner in the business.
.
Italian gold, Clio
الانطلاقة الخارجية لأحمد فتيحي كانت من خلال زيارته أوروبا لأول مرة في عام 1962، فقد شعر برتابة “الموديلات” التي يتم طرحها في أسواق
and began thinking about introducing something new. This inspired him to travel to Italy before he had even turned 20, hoping to discover the latest
European jewelry designs and adapt them for his father’s shop.
عاد إلى البلاد ومعه كيلو ذهب إيطالي مشغول ليصبح أول صائغ سعودي يستورد الذهب الإيطالي, وبعد تلك الزياره فكر في الطريقة المثلى للتوسع
Because of his business activities, he suggested that his father establish a limited liability company. His father was persuaded by the idea, and the company was founded in 1965, becoming the first company
in Saudi Arabia to be established as a limited liability company under the Companies Law. That same year, the limited liability company became a general partnership
تضامنية لتصبح “شركة حسن وأحمد فتيحي التضامنية” واستمرت تلك الشراكة نحو 13 عاما ثم انتهت هذه عام 1978.
.
Operating independently
التحول المهم في مسيرة صعود أحمد فتيحي كرجل أعمال، بدأت من خلال الاستقلال بأعماله، حيث افتتح أول محل خاص به يحمل اسم “أحمد حسن
فتيحي” في عام 1970 برأسمال قدره مائتي ألف دولار أمريكي (200.000 دولار أمريكي ) آنذاك.
After his first successful experience working independently, he opened a second store in Jeddah in 1973. However, business does not always follow a single path,
His first business setback came in 1975, when he lost everything he owned—US$550,000—and was forced to sell his home.
But that setback did not dampen his ambition or determination. He worked tirelessly until he opened two more stores in 1976, followed by another two in
1977، وثلاثة فروع أخرى في عام 1978، ليبلغ عدد المحلات التي تحمل اسم “أحمد حسن فتيحي” تسعة محلات منتشرة في مدينتي جده ومكة،
with annual rents totaling nearly four million.
.
مركز تجاري
In 1980, he came up with the idea of bringing his stores together in a single, multi-story location where he could personally oversee distinctive, individualized services. In 1984,
“شركة أحمد حسن فتيحي” أول مركز متكامل بأدوار متعددة يدار بواسطة شخص واحد في مدينة جدة على طريق المدينة، وقد بُني على طراز عالمي
تحت إشراف شركة أوربية مشهورة على غرار مبني متجر “هاوردز” في لندن الذي يمتلكه المصري الملياردير محمد الفايد و”جالاري لافييت” في
Paris. Considered the height of luxury, it offered every indulgence, from gold, jewelry, watches, accessories, perfumes, men’s clothing and fabrics
وملابس نسائية، بلغ عدد موظفيه آنذاك 350 موظفاً منهم 115 فني صياغة في مصنع الذهب والمجوهرات.
In addition, its specialized jewelry workshop could bring any design a customer imagined to life. Ahmed Hassan Fitaihi succeeded in developing the brand and expanding its success
not only across the Kingdom, but also throughout Arab and Asian countries, through extensive advertising and promotional efforts
alongside the quality and distinctiveness of its products.
FATEHI Jeddah Center was considered the first Saudi advertiser on Egyptian TV channels whose broadcasts reached the Kingdom of Saudi Arabia. When
advertising was approved on Saudi television, FATEHI Center was among the first advertisers there as well.
.
Growth through the years and in numbers
In 1990, the company opened a wholesale center in Jeddah to serve all its branches. Its design incorporated the latest storage systems. In
1993, the company opened a similar commercial center in central Riyadh, after its opening had been delayed by two years because of the circumstances affecting the region, including
economic difficulties resulting from the Gulf War.
وتحولت في عام 1992إلى شركة ذات مسؤولية محدودة تحمل اسم “شركة أحمد حسن فتيحي المحدودة” برأسمال مدفوع بالكامل قدره 200 مليون
Saudi riyals. In 1994, the company was valued at SAR 600 million, equivalent to approximately USD 165 million. Twenty percent of
the company’s shares were sold to 28 other partners, while he and his family retained the remaining 80%.
اشترت شركة “أحمد حسن فتيحي المحدودة” في عام 1996 الاسم التجاري العالمي العريق في مجال المجوهرات الماسية “مارينا بي” وسلسلة
الفروع الخاصة به التي تتواجد في جنيف وميلانو ونيويورك وباريس وأرقى شوارع لندن التجارية في “نيوبوند ستريت”، وينتشر وكلاء وموزعوا هذا
Japan, the United Arab Emirates, India, and several major world capitals.
Leading international radio stations have discussed Ahmed Hassan Fitaihi, and prominent newspapers and magazines have written about him as one of the world’s foremost jewelry collectors. The name was registered
“أحمد حسن فتيحي” في موسوعة الأرقام القياسية “جينس ريكوردز” .
.
Becoming a joint-stock company
Ahmed Hassan Fitaihi wanted to convert his limited company into a joint-stock company. He faced opposition from family, friends, and even employees, who
felt that no one else had the right to join them in the company. He encountered many difficulties with both government and non-government entities, but ultimately
he overcame these challenges and became a role model for many other family-owned trading companies to follow.
وصدر في 7/1/1998 قرار معالي وزير التجارة السعودي بالموافقة على تحول شركة “أحمد حسن فتيحي المحدودة” إلى شركة مساهمة مغلقة، وتعد
شركة “أحمد حسن فتيحي – شركة مساهمة سعودية” أول شركة تجارية سعودية تتحول إلى شركة مساهمة، تتكون من 41 مساهماً، يمتلك أحمد حسن
Fitaihi and his family own 85% of its shares, while the remaining 15% are held by 34 shareholders.
وبذلك أصبحت أول شركة سعودية تنتقل من نظام “الشركات العائلية” إلى “الشركات المساهمة”، مما أتاح لها مساحة كبيرة من التحديث والتجديد
It also brought greater speed and transparency, and established the company as a strong competitor to both Arab and international companies.
.
Owner of the world’s largest diamond
Fitaihi often travels in person to European trade fairs to select merchandise for display at the Fitaihi centers in Jeddah and Riyadh, as well as at its branches.
He has a distinctive eye for selecting colors. He is also constantly on the move and full of energy. Often, he personally makes sales and works
hands-on alongside the staff.
ويعرف عن الشيخ أحمد فتيحي تواجده الدائم في دور المزادات العالمية أمثال “سوثبي” Sotheby’s و”كريستي” Christie’s و تملكه لعدد من
المجوهرات والحجارة النادرة كمقتنيات شخصية، حتى أنه سجل في موسوعة “جينيس” للأرقام القياسية باعتباره صاحب أكبر ماسة في العالم على
شكل “دمعة”، كما تم تقليده بوسام “نجمة التضامن” لما له من أثر في تقوية العلاقات الاقتصادية بين السعودية وإيطاليا، وهذا الوسام يعد أرفع وسام
awarded to distinguished individuals by decree of the President of the Italian Republic.
.
From a family business to a global enterprise
In its most recent phase, the group pursued a policy of expanding and diversifying its investments by establishing several major companies in the real estate and commercial sectors.
والتي تمتلكها بالكامل مثل شركة “صدوق العالمية للاستثمارات القابضة”، والتي تأسست برأسمال 100 مليون ريال بهدف الاستثمار داخل
the Kingdom and abroad.
وكذلك شركة “مدماك الخليجية للاستثمار العقاري”، والتي تأسست برأسمال قدره 100 مليون ريال بهدف الاستثمار العقاري داخل المملكة وخارجها،
واستحوذت المجموعة أيضا على نسبة 80% من رأس مال “شركة تجارة السلع الكمالية الثمينة المحدودة”، بقيمة إجمالية تبلغ 4 ملايين ريال، وشركة
Luxury Goods Trading Company Limited is engaged in buying and selling precious metals, gemstones, jewelry, accessories, antiques, household goods,
and décor supplies. It operates nine stores in Jeddah, Riyadh, and Al Khobar under the names Fathihi Junior and Baby Fathihi.
.
And investments in Egypt
أما خارجيا فقد سعت “مجموعة فتيحي القابضة” إلى الاستثمار الاستراتيجي في السوق المصرية حين استحوذت على 5% من رأسمال “شركة
النساجون الشرقيون المصرية”، وهي شركة مساهمة بقيمة إجمالية تجاوزت 153 مليون جنيه مصري، أي ما يعادل 105 ملايين ريال سعودي.
كما استحوذ الشيخ أحمد فتيحي -بصفته الشخصية- على نحو 10% من رأسمال “بنك التعمير والإسكان المصري”، في صفقة بلغت قيمتها
EGP 670 million (the dollar was equivalent to EGP 5.3), making him the largest individual shareholder in the bank, one of Egypt’s most important
banking and development institutions.
.
مجمع طبي للابن
Although Walid, Sheikh Ahmed Fitaihi’s son, grew up in a family with a long history in the gold and jewelry trade, he chose a different path. And because distinction is a hallmark
ونهج العائلة، أصبح واحدا من أشهر أطباء المملكة على الإطلاق، أنهى وليد دراسة الهندسة من جامعة “جورج واشنطن” الأمريكية، وتخرج الأول على
دفعته بـ”مرتبة الشرف الأولى”، ثم التحق بكلية الطب في الجامعة، حيث حاز على شهادة الدكتوراه في الطب، ثم أتم تدريبه وزمالته من المستشفيات
التابعة لكلية طب جامعة “هارفارد”.
His father, Fتيحي, conceived the idea of establishing the International Medical Center in Jeddah and oversaw every stage, from agreements, meetings and contracts to design and construction. The
center opened in 2006 under the patronage of the Custodian of the Two Holy Mosques, King Abdullah bin Abdulaziz, may he rest in peace. The King praised its advanced devices
and medical equipment, which rival those of the world’s largest hospitals and clinics.
.
يدريب 120 فتاة
Ahmed Fitaihi formed a team of women specializing in selling gold and jewelry to meet the wives of heads of state and other prominent figures who visit
المملكة.
يقول فتيحي”حاولت أحضار 56 فتاة من بنات العلائلات السعودية للعمل في هذه المهنة وأحمد الله أن عددهن الآن وصل الى 120 فتاة تعمل في هذه
profession after I personally trained them. My training was not focused on the jewelry trade; instead, I taught them how to conduct themselves in their lives with
الآخرين وعودتهن على أن يكون هذا السلوك ليس في المحل فقط انما ايضا في بيوتهن”.
.
And a return to childhood memories…
Businessman Fitaihi looks back on his childhood, recalling a visit by King Fahd bin Abdulaziz (may God have mercy on him) when he was Minister of Education. He visited the school where Fitaihi studied, and young student Ahmed Hassan Fitaihi was chosen to welcome him. Nervous, he did not deliver the prepared speech
and instead set it aside, welcoming him with an impromptu speech of his own that was well received
Appreciation and encouragement from those in attendance.
During a meeting with young business leaders at the Jeddah Chamber, Feteihi shared his memories of Akash Mosque and recalled how people would leave through its southern gate.
Merchants would chat and buy from the vendors around the mosque to make them feel appreciated. Feteihi also spoke about his life with his mother, who was
his first teacher in life, noting that people cannot choose their mother, father, or appearance; these are all part of God Almighty’s will.
ويتحدث فتيحي كيف تعلم من والديه التعامل مع الناس والتعامل مع الشارع والتعامل في المدرسة مشيرا الى ان هناك عشر اشياء يجب ان يحافظ عليها
to succeed in life, including: actions are judged by intentions; one should wish for one’s fellow person what one wishes for oneself; and what is lawful is clear, as is what is forbidden. A person should also
Admit when you’re wrong, think well of God Almighty, be loyal, and honor your parents. These principles are essential for success, and a person must control their
desires, because God created us with purpose and knows everything about us. We must be mindful of God in all matters.
