Tiffany Lobs $589M Claim At Swatch In Battle Over JV Deal

Law360, New York (March 12, 2012, 6:49 PM EDT) -- New York-based luxury jeweler Tiffany & Co. has lodged a 541.9 million Swiss franc ($589 million) contract counterclaim in a Dutch arbitration suit revolving around a failed joint venture with Swatch Group Ltd., the companies said Monday.

Tiffany filed its claim Friday in the Netherlands, saying Swatch had failed to provide appropriate management, distribution, marketing and other resources in a licensing agreement to develop and sell Tiffany-branded watches. Swatch and its wholly owned subsidiary Tiffany Watch Co. Ltd. had originally sued the luxury retailer for up...
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