News Technocorp Holding Ltd, a Swatch Group company, is increasing its stake in the Dubai-based company Rivoli Investments LLC by purchasing a block of shares and is thus taking control of Rivoli Investments LLC. Swatch Group previously held a 40% equity interest in Rivoli Investments LLC through its Technocorp subsidiary.
In the Middle East, Rivoli operates a network of over 360 retail businesses, predominantly active in the watch segment. The company, which has a workforce of over 1,500 employees, has for a long time offered Swatch Group watch brands for sale in this region.
December 05, 2013