Tiffany & Co. to pay Swatch Group damages totalling CHF 402 million

According to a statement received earlier today from 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. In March 2012, Tiffany filed a counterclaim with the court of arbitration in charge.