Swatch Group acquires strategic stake in Rivoli Group
The Swatch Group Ltd, the world’s largest watch manufacturer, has today announced the acquisition of an important stake in the Rivoli Group, one of the leading lifestyle luxury goods retailers in the GCC (Gulf Cooperation Council) which operates over 245 retail outlets. The strong partnership will support Rivoli’s regional expansion strategy including its entry into the Kingdom of Saudi Arabia and India.
Headquartered in Dubai, Rivoli is a private retail company with a diverse portfolio of international luxury brands and an extensive retail network in the UAE, Bahrain, Oman and Qatar. Established in 1988, the Rivoli Group has built a strong reputation as a leading luxury retailer. Rivoli is a portfolio company of Dubai International Capital.
The Swatch Group is the world’s largest watch manufacturer with over 19 brands, going from the luxury and prestige segment with Breguet to the basic range with Swatch with over 160 factories in Switzerland (23,000 employees worldwide) and delivering movements apart from the own brands to the while Swiss watch industry. Last year, the turnover of the Swatch Group was record 6 billion Swiss Francs. ■
