Arab Today, arab today swatch rejects counter lawsuit by tiffanyco
Last Updated : GMT 21:21:01
Arab Today, arab today
Arab Today, arab today

Swatch rejects counter lawsuit by Tiffany & Co.

Arab Today, arab today

Arab Today, arab today Swatch rejects counter lawsuit by Tiffany & Co.

Berne - AFP

Swatch, a leading watchmaker, said on Monday that a lawsuit by US jeweller Tiffany had no legal basis and that it would contest the action in a battle between the luxury product groups. A counter-claim by Tiffany for 541.9 million Swiss francs (449.5 million euros, $589 million) \"has no factual or legal basis and will be vigorously contested by Swatch Group and Tiffany Watch Co. Ltd.,\" a statement said. Tiffany Watch is an affiliate of Swatch that was established in 2008 in cooperation with the US firm. In September however, Swatch broke off a cooperation agreement with Tiffany & Co. for \"breaches of its obligations and duties,\" and sought compensation of 3.8 billion Swiss francs in damages. Swatch said it had invested \"millions to develop, distribute and sell Tiffany & Co. watches\" but that the venture was undermined by \"systematic efforts to block and delay development of the business\" by Tiffany & Co. Tiffany has alleged that Swatch broke its promises and failed to provide appropriate distribution for Tiffany-branded watches, depriving it of the increase in watch sales and royalty income it had been seeking. Shares in Swatch slipped by 0.35 percent to 423.50 Swiss francs in early trading on Monday, while the Zurich stock exchange was off by 0.16 percent overall. Analysts at the Zurich cantonal bank ZKB said it was difficult to judge which company would prevail.

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today swatch rejects counter lawsuit by tiffanyco Arab Today, arab today swatch rejects counter lawsuit by tiffanyco

 



Arab Today, arab today
Arab Today, arab today Reveals his participation in "Fashion Star" TV show

GMT 12:49 2017 Wednesday ,01 March

Reveals his participation in "Fashion Star" TV show
Arab Today, arab today Egyptair and Etihad Airways sign partnership

GMT 21:08 2017 Wednesday ,01 March

Egyptair and Etihad Airways sign partnership
Arab Today, arab today Sheds light on major steps in 12-year career

GMT 06:07 2017 Monday ,27 February

Sheds light on major steps in 12-year career
Arab Today, arab today UN report confirms war crimes were committed

GMT 20:43 2017 Wednesday ,01 March

UN report confirms war crimes were committed
Arab Today, arab today NUMP's conference to discuss proplems

GMT 13:40 2017 Wednesday ,01 March

NUMP's conference to discuss proplems
View News in Arabic - Business: أخبار الشركات
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Parliament considers solutions to overpopulation

GMT 20:27 2017 Monday ,27 February

Parliament considers solutions to overpopulation
Arab Today, arab today Lasers flesh out dino-bird profile

GMT 12:24 2017 Wednesday ,01 March

Lasers flesh out dino-bird profile
Arab Today, arab today Pluto's unruly moons

GMT 06:31 2015 Thursday ,04 June

Pluto's unruly moons
Arab Today, arab today Final Phantom VII signals end of an era

GMT 14:31 2017 Tuesday ,28 February

Final Phantom VII signals end of an era
Arab Today, arab today 'Constructive' Vauxhall talk with union

GMT 08:54 2017 Saturday ,25 February

'Constructive' Vauxhall talk with union
Arab Today, arab today Najla Badr will participate in “30 Days” drama

GMT 06:23 2017 Monday ,27 February

Najla Badr will participate in “30 Days” drama
Arab Today, arab today Humans spark most US wildfires

GMT 14:58 2017 Tuesday ,28 February

Humans spark most US wildfires

GMT 05:14 2017 Thursday ,23 February

UK appoints 1st Scotland Yard chief in 188 years

GMT 11:44 2017 Saturday ,25 February

Penguins in the age of dinos

GMT 19:45 2017 Monday ,20 February

Sarah Belamesh designs antiques of "ceramic"

GMT 07:54 2017 Wednesday ,01 March

Shanghai expands public smoking ban

GMT 10:08 2017 Tuesday ,28 February

As Olympics loom,China plunges into biz

GMT 13:12 2015 Saturday ,09 May

Sheikh Sultan opens Sharjah Centre

GMT 06:27 2017 Wednesday ,01 March

GSMA: 5 billion mobile phone users in 2017

GMT 18:23 2017 Friday ,24 February

Fadi explains secrets of  Nancy Ajram's newlook
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday