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Swatch Group and Tiffany & Co. end partnership
Both feel the other did not stand committed to business development
By: Diamond World News Service
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Sep 13 2011 9:00PM
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Reference: 6318  

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Swatch Group & Tiffany & Co. have terminated their partnership, which had come into being to develop a luxury watch line. Both entities point that the other has failed to keep up its commitment, and rather delayed business development.

Swatch stated that as per the agreement it had formed the Tiffany Watch Co. Ltd., an entity for the development, production and distribution of Tiffany & Co. brand watches and the sales were to be handled through points of sale by Tiffany & Co., the Swatch Group and independent retailers. Tiffany argues that Swatch had failed to ‘provide appropriate distribution for Tiffany & Co. brand watches’ affecting its current business forecasts and also that it wanted Swatch to honor its obligations towards Tiffany's rights regarding brand-management and product design.''

Following the ed of the partnership, Swatch is hopeful that Tiffany Watch Co. e allowed to wind down its existing business over two years.

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