The known company Swatch Group has announced its victory in the framework of the trial of the jewelry brand Tiffany & Co. The last as damage will be obliged to pay about 402 million francs.
Disagreements between the world-renowned companies affected by the treaty of 2007, under which the two watch company under the brand Tiffany & Co entered into a partnership for the sale of watches in the medium price segment. The company Swatch undertook to produce watches, and direct product sales in stores owned Swatch and Tiffany and other brands. In September 2011, the company Swatch Group refused further cooperation with the jewelry company, citing the fact that Tiffany “systematically sabotaging the joint project".
Swatch Group won arbitration at Tiffany & Co
The Swatch brand through the satisfaction of the claim of damage is made to compensate for losses from the forced termination of cooperation, and Tiffany said they are currently analyzing their lawyer’s decision. Chapter of the American concern expressed disappointment, noting at the same time that the company has sufficient funds to pay the amount.
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