New acquisition for Swatch Group

On 31 March the Swatch Group SA has acquired the Johannesburg-based company Swiss Precision (Pty) Ltd, which is responsible for the distribution of watches in South Africa. Already the owner of 10% of the share capital of this company set up in 2003 for the purpose of distributing the Swiss watch giant's watches, the Group wants to expand its presence in this country. With this acquisition, it will also take control of a small network of nine Swatch franchise shops operated by the distribution company. The contract will become effective after approval by the responsible South African authorities.

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