Sentence passed on Swatch Group vs Tiffany & Co
SHORTLY before Christmas, the Dutch Arbitration Institute passed judgement on a lawsuit between Swatch Group vs Tiffany & Co, sentencing the Fifth Avenue jeweller to pay the titan of Swiss watchmaking damages totalling CHF402m (£273.8m). This brings a lengthy dispute to an end, waged since September 2011 when Swatch terminated its collaboration for breach of contract and pressed claims for CHF3.8bn damages for future profits lost, citing Tiffany’s “systematic efforts to block and delay development of the business.”