In 2007, their partnership was announced with the superlative nonsense typical of the luxury goods industry.
Tiffany, the world’s most famous jeweller, and Swatch, maker of Omega and other fine Swiss watches, had “married” to make a range of “timepieces” including “a horological jewel with a curvaceous silhouette and a shower of diamonds that would have caught the eye of Audrey Hepburn in Breakfast at Tiffany’s.” But now the pair are at daggers drawn over the total collapse of the relationship.
Swatch sued first, seeking damages of Sfr3.8 billion and declaring the partnership at an end. Tiffany had been too slow to make decisions and did not even being display the £2500-a-pop watches at its famous store on Manhattan’s Fifth Avenue, it howled.
Today was Tiffany’s turn, countersuing for Sfr541.9 million amid claims that it was the injured party. Swatch quickly rebutted the suit later this morning. Expect a costly divorce for all sides.
