Thursday February 27, 2020

Tiffany ordered to pay Swatch €328m in watch case

Swatch Group won an arbitration award of 402 million francs (€328 million) from Tiffany & Co, more than the New York-based jeweller earned last year.

23rd December, 2013
“This is great news for Swatch,” said an analyst.

Swatch Group won an arbitration award of 402 million francs (€328 million) from Tiffany & Co, more than the New York-based jeweller earned last year, after the Swiss watchmaker claimed a breach of contract at a joint venture.

Tiffany said it will take a charge of $295 million to $305 million in the fourth quarter for the decision by an arbitration panel in the Netherlands. The charge may reduce earnings by as much as $2.35 a...

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