By Hallie Engel
Tiffany & Co. and Swatch have officially severed ties after a protracted legal battle, leaving the jeweller free to seek new opportunities for its line of branded watches.
The two brands originally joined forces in 2007, with Tiffany stating the deal would make them a leading name in watches. However, the agreement fell apart in less than two years, leading to a lengthy fight in court. Initially, Swatch sued for $4 billion in lost revenue and Tiffany countersued for $600 million, claiming breach of contract.
The companies then took the case to a European court, participating in a confidential arbitration in the Netherlands. On October 11th, Tiffany told the Securities & Exchange Commission that its relationship with Swatch automatically ended on the first of the month, leaving it in control of its timepiece collection.