Ethos Ltd acquires 6.25% in Haute-Rive Watches

Ethos Ltd has completed the acquisition of 6.25% stake in Haute-Rive Watches SA, a new specialized watch making brand and a company incorporated under Swiss Laws having registered office at Chemin des Virettes 11, Corcelles, NE. The stake was purchased for a cash consideration of Rs 11.5 crores approximately. The Company has commenced its operations. The main purpose of the Company is in Switzerland and/or abroad:-
a) any business in connection with all high end watch and jewellery products including but not limited to research, development, manufacturing, repair services, assembly, promotion (advertising, etc.), marketing of whatsoever nature, export, import;
b) the procurement of all related goods (components, semi–finished products, finished products, etc.) and/or services for third parties, including – but not limited to creative services, data services and project management services;
c) to file, acquire, hold and sell patents or any intellectual property rights as well as acquire, hold and grant licenses;
d) to grant loans and/or other kinds of financing or guarantees and/or other kinds of securities to shareholders, group companies and/or third parties for the direct or indirect benefit thereof, provided this furthers the interests of the Company.