The partnership between the Swatch Group and Tiffany & Co. New York ends today. The decision became necessary due to Tiffany & Co.'s systematic behaviour in blocking and delaying business development. In the spring of 2008, as part of a long-term partnership, the Swatch Group had founded the Tiffany Watch Co. Ltd. which was responsible for the development, production and distribution of watches under the Tiffany & Co. brand; worldwide sales were ensured both by a network of shops operated by the latter and by independent retailers. Tiffany Watch Co. will terminate its current business within the next two years, following the effective termination of the cooperation agreements. Swatch Group and Tiffany Watch Co. will seek damages from Tiffany & Co. New York in compensation for the loss of long-term business.
