Arab Finance: MAGRABi Retail Group, the Middle East's eyewear retailer, has announced a merger with Rivoli Vision, a lifestyle retailer in the Lower Gulf, as per a statement.

The merger aims to reshape the region's eyewear industry, focusing on improving customer experience and industry standards.

The MAGRABi-Rivoli Enterprise will work to enhance service and quality across the Middle East.

The business will see MAGRABi Retail Group expand to over 290 locations by the end of 2024, adding 89 Rivoli Vision stores across the UAE, Qatar, Oman, and Bahrain.

This merger strengthens MAGRABi's presence in seven countries namely, Saudi Arabia, the UAE, Qatar, Kuwait, Oman, Bahrain, and Egypt.

Rivoli will remain a minority shareholder, with Vice Chairman and Managing Partner Ramesh Prabhakar joining MAGRABi's board and Investment Committee.

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