By  on February 4, 2013

Movado Group Inc. said Monday that it increased its ownership interest in its U.K. subsidiary MGS Distribution from Swico Ltd.

The Paramus, N.J.-based watchmaker grabbed a 90 percent stake in MGS, up from 51 percent. Since 2007, MGS has been operated as a joint venture between Movado and Swico, but the latest transaction terminated the venture between the two companies.

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