Decision in favor of Swatch Group
The NAI Netherlands Arbitration Institute passed judgement in the lawsuit Swatch Group vs Tiffany & Co.:
Tiffany & Co. is sentenced to pay Swatch Group damages totalling CHF 402 million.
The counter-claim of Tiffany & Co. is integrally dismissed.
In September 2011, Swatch Group had terminated the collaboration with Tiffany & Co. for breach of contract and pressed claims for damages in December 2011 against Tiffany & Co. In March 2012, Tiffany & Co. filed a counterclaim with the Court of arbitration in charge.
Group net sales for the full year of CHF 5 595 million, -28.7% compared with the previous year at constant exchange rates, or -32.1% at current rates. The currency-related sales loss amounted to CHF 286 million. Operating result of CHF 52 million (previous year: CHF 1 023 million), or CHF 99 million, excluding the discontinued business unit Calvin Klein.…
This content is not available in English. Please see the German version below or the French version. Wir gratulieren unseren Lernenden zur bestandenen Lehrabschlussprüfung! Die Firmen und Marken von Swatch Group Assemti, Blancpain, Breguet, CHH Microtechnique, Comadur, Diantus, Dress Your Body, EM Microelectronic-Marin, ETA, Longines, Manufacture Ruedin…
After 31 years with Swatch Group, Kevin Rollenhagen, member of the Extended Group Management Board, has decided to retire at the end of August, 2020.