End of Partnership with Tiffany & Co.

Swatch Group terminates partnership with Tiffany & Co. New York for material breach of contract

Biel / Bienne, September 12, 2011 – Today Swatch Group terminated its cooperation contracts with Tiffany & Co. This action became necessary following Tiffany & Co’s systematic efforts to block and delay development of the business.

Within the framework of the long-term partnership agreement, in spring 2008, Swatch Group founded Tiffany Watch Co. Ltd., which was responsible for the development, production and distribution of «Tiffany & Co.» branded watches. Worldwide sales were handled through points of sale operated by Tiffany & Co., by The Swatch Group Ltd and by independent retailers.

Tiffany Watch Co. Ltd. will be permitted to wind down current business over the course of two years following effective termination of the cooperation contracts.

Swatch Group and Tiffany Watch Co. Ltd. will press claims for damages against Tiffany & Co., New York, in compensation for the loss of planned long-term future business.

Contacts

Media

Béatrice Howald, Spokesperson
The Swatch Group Ltd, Biel / Bienne (Switzerland)
Phone: +41 32 343 68 33
E-mail: please use our «Contact Form»

Investors

Thierry Kenel, CFO
The Swatch Group Ltd, Biel / Bienne (Switzerland)
Phone: +41 32 343 68 11
E-mail: please use our «Contact Form»

PDF Document (62 KB)

Back to the List

End of Partnership with Tiffany & Co.