ZURICH Dec 22 Swatch Group said a
Dutch court has sentenced Tiffany & Co. to pay it 402
million Swiss francs ($448.79 million) in damages in a lawsuit
following the end of a collaboration between the two groups.
The Netherlands Arbitration Institute sentenced Tiffany to
pay Swatch damages after it pressed claims against the U.S.
jeweller in December 2011, the world's largest watchmaker said
in a statement on Sunday.
Swatch said the court had integrally dismissed a
counter-claim filed by Tiffany in March 2012.
Tiffany could not immediately be reached for comment.
Swatch and Tiffany had struck an agreement to develop
watches under the Tiffany brand together in 2008, but Swatch
terminated the partnership in 2011, blaming Tiffany for blocking
and delaying development of the business.