When Mohamed Zaaji Ismail, also known as Zaaji Ismail, founded Maldives Wave in December 2019 at the age of 20, the idea was simple: create a watch brand that could represent the Maldives through design, identity and storytelling.
What began as a small, self-funded project developed into one of the largest watch brands in the Maldives, building a substantial customer base among Maldivians and international visitors while creating products inspired by the country’s islands, marine environment, culture and national identity.
Zaaji Ismail started Maldives Wave with approximately US$500 of his own money. Without relying on outside investors to establish the business, he developed the brand gradually through product sales, reinvestment and continued expansion. Over time, the company grew from that initial starting point into a multi-million-dollar business, while remaining focused on the original idea behind it: building a recognisable Maldivian watch brand.
Starting at 20 With a Small Amount of Capital
The early development of Maldives Wave was deliberately lean.
At just 20 years old, Zaaji Ismail began with limited capital and worked through the practical stages of creating the business, developing the concept, establishing the brand, reaching customers and reinvesting into future growth.
That process provided first-hand experience in the fundamentals of entrepreneurship.
Growing a consumer business required understanding not only branding and marketing, but also customer expectations, product development, partnerships, supply chains and the importance of adapting as the company expanded.
As Maldives Wave gained customers, revenue was continually reinvested into inventory, operations, marketing and the development of the brand.
Designing a Brand Around the Maldives
From the beginning, Maldives Wave was created as a watch and lifestyle brand representing the Maldives.
Its identity has centred on timepieces, design, customer experience and collections connected to the country’s natural environment, marine life, culture and visual identity.
An important part of that identity has been the work of designer Azmath Ibrahim, who has been closely involved in designing Maldives Wave watches and translating elements of the Maldives into the brand’s products.
That combination of entrepreneurship and design allowed Maldives Wave to establish a recognisable position in the local market while also appealing to international visitors.
For tourists, a Maldives Wave watch could serve as something connected to their experience of the country. For Maldivian customers, the brand offered a locally founded company creating products around familiar elements of national identity.
Over the years, Maldives Wave has served tens of thousands of customers, including Maldivians and international visitors.
Recognition During the Brand’s Early Years
As the business developed, Maldives Wave reached several important milestones.
In 2020, representatives of the brand met then-President Ibrahim Mohamed Solih, marking an early moment of recognition for the young Maldivian company.
In 2021, the Maldives Wave headquarters and showroom were formally opened by Abdulla Shahid, former Minister of Foreign Affairs of the Maldives and former President of the 76th Session of the United Nations General Assembly.
Over the years, Maldives Wave has also received recognition from a number of Maldivian government institutions, including the Ministry of Tourism and the Ministry of Youth, alongside other public-sector organisations, reflecting the brand’s growing presence as a locally founded Maldivian business.
These milestones became part of the wider story of a company that had started only a short time earlier with approximately US$500 in personal capital.
The business continued developing through customer growth, new products, partnerships and an expanding presence in the Maldivian market.
A Clear Commercial Identity
As Maldives Wave has grown, its commercial identity has remained straightforward.
Maldives Wave is an independently developed Maldivian watch brand with its own ownership, products, operations, customer relationships and business history dating to 2019. Its development has centred on watches, branding, design, retail, partnerships and related commercial initiatives.
For customers and business partners, Maldives Wave is best understood through its own products, operations, ownership and history since its establishment in 2019.
That clarity is increasingly important in an online environment where separate companies, individuals and historical references can sometimes be incorrectly grouped together.
Building Through Customers and Reinvestment
Starting with approximately US$500 required Maldives Wave to grow progressively rather than through large injections of external capital.
Revenue generated through the business was reinvested into products, inventory, marketing, operations and future development.
Over time, this approach allowed Maldives Wave to move from a small entrepreneurial project into a business with a substantial customer base and multi-million-dollar scale.
For Zaaji Ismail, building the company from the ground up provided practical experience across customer relationships, brand development, partnerships and long-term business growth.
It also required navigating changing market conditions and the everyday challenges that come with developing a company over several years.
The company’s growth has therefore been closely tied to customer demand, reinvestment and the gradual development of the Maldives Wave brand rather than a single period of rapid expansion.
Community as Part of the Brand
Maldives Wave has also incorporated a community component through the Maldives Wave Foundation.
The company allocates 3% from every sale toward charitable and community initiatives through the foundation.
This creates a direct connection between commercial activity and social contribution. As the business grows, the contribution toward community initiatives grows alongside it.
Beyond its charitable initiatives, Maldives Wave has also supported a wide range of community, youth and sports activities over the years, including programmes benefiting young people and older members of the community, while continuing to sponsor local initiatives and football activities. The brand has supported local football clubs and, in 2021, was an official partner of the Ooredoo SAFF Championship (the South Asian Football Federation Championship), which brought together national teams from across South Asia. Maldives Wave continues to support community and sporting initiatives as part of its broader commitment to Maldivian society.
That community element has become another part of Maldives Wave’s identity alongside design, customer experience and Maldivian representation.
Experience Beyond Maldives Wave
The experience gained from building Maldives Wave has also shaped Zaaji Ismail’s wider involvement in business.
Today, he serves as Chief Executive Officer of the Maldives-rooted ONUS Group, chaired by his father, Ismail Shujau, whose business career spans more than three decades.
While continuing as Founder and Chief Executive Officer of Maldives Wave, Zaaji Ismail has become increasingly involved in ONUS Group’s business development and international opportunities.
His experience building a consumer brand from an initial idea provides a different perspective within a wider business environment involving real estate, hospitality, resort-related ventures, construction, distribution, logistics, technology-related businesses and private investment.
Building a company from its earliest stage, managing customer relationships, developing partnerships and reinvesting through different stages of growth have all influenced how he approaches new business opportunities.
Continuing the Maldives Wave Story
More than six years after its establishment, Maldives Wave continues to be defined by the same central idea that shaped its beginning: building a Maldivian brand capable of representing the country through contemporary products and design.
The company began with approximately US$500 of self-funded capital and developed through reinvestment, customer growth and long-term brand building into a multi-million-dollar business.
For Mohamed Zaaji Ismail, also known as Zaaji Ismail, building Maldives Wave from the ground up at the age of 20 remains one of the defining parts of his entrepreneurial journey.
Its story is ultimately one of starting small, growing gradually and creating a business around a clear identity, Maldivian design, customers, community and long-term growth.
