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NEW YORK — Watchmaker Swatch Group said Monday it has ended its partnership with Tiffany, accusing the legendary jeweler of trying to “block and delay” a joint venture the companies entered about four years ago.
Tiffany responded that it was Swatch that was unwilling to “work cooperatively.” The companies’ partnership goes back to 2007, when they announced a 20-year agreement under which Swatch would create a new company, Tiffany Watch Co., to make and sell watches under the Tiffany brand. Swatch was to sell the watches at Tiffany stores and other high-end retailers and share the profits with Tiffany.
Swatch said Monday that it would file claims against Tiffany for compensation for lost future business. The Associated Press
