Rivoli targets ambitious Middle East, India expansion plans despite recession

Despite the current economic recession, top UAE-based and GCC luxury lifestyle goods retailer Rivoli, nurtures ambitious expansion plans for Saudi Arabia, Lebanon, Syria, Egypt, Morocco & India. In an interview with a local UAE daily, Adel Al Zarouni, Managing Director, Rivoli was upbeat about the companys partnership with the Swatch Group and Dubai International Capital (DIC), who together hold a 50 percent stake in the company. According to Al Zarouni, the company aims to have between 60 to 80 retail outlets in the first phase of the business expansion to reach up to 300 stores within three years. Rivoli imports, distributes and retails more than 60 international luxury brands of high-end watches and accessories but 70 percent of its business is watches.