Here’s why a company paid $25,000 for Westerly.com.
Every week, I publish a list of end user domain name sales. I research Sedo’s public sales to find domains that are now in end users’ hands.
I rarely hear from the buyers after writing about their acquisitions. But over the weekend, I got a note from Ziad AlMalki of Al Malki Group, which purchased the highest-price domain in last week’s list, Westerly.com.
Ziad AlMalki, Director of Al Malki Group, wrote in an email:
In regards to the domain, we have just launched department store devoted to luxury in Riyadh which is the capital of Saudi Arabia. The department store is called Westerly, this domain will be its ecommerce platform.
I asked him what role domain name availability played in choosing the store’s name. AlMalki wrote:
We worked with a branding agency to come up with a name that had .com domains available for purchase, before buying Westerly.com we had purchased variations of it in case we couldn’t reach an agreement with the seller.
The availability of the .com domain was crucial in selecting the name for our new department store.
He also explained more about the business:
Al Malki Group has grown to become a major player in the Middle East luxury business scene, trading and marketing over 100 international brands by a highly skilled and dedicated staff of more than 1,200 employees. AMG operates these brands with a variety of different business models, be it Franchise Agreements, Distribution Agreements and Joint Venture Agreements.