Tuesday, September 13, 2011
Swatch Group Breaks Ties with Tiffany & Co.
As per the original statement by Swatch Group, see below, both Swatch Group and Tiffany & Co, were highly optimistic about there vision of a long term alliance. This partnership failed to such an extent that "Swatch Group and Tiffany Watch Co. LTD will press claims for damages against Tiffany & Co., New York, in compensation for the loss of planned long-term future business." It seems to me, Swatch Group expected "more" from Tiffany & Co. - A "more" Tiffany & Co did not provide. Tiffany & Co's watches are not bad watches. They may suit the taste of some, and the watches would be quite fitting on the sales floors of less prestigious companies, but being Tiffany & Co. (established in 1837), the watches do not live up to the brand. If their watch brand means to excel, I think they should look to Louis Vuitton, Harry Winston, Cartier and Van Cleef & Arpels - companies which have made waves in the world of watches.
Original Statement at Partnership Commencement:
In December 2007 Swatch Group and Tiffany & Co. announced a strategic alliance to further the development, production and worldwide distribution of Tiffany & Co. brand watches. Under the agreement, the new watch company, known as Tiffany Watch Co. Ltd and wholly owned by Swatch Group, will design and manufacture in Switzerland a complete range of high-end luxury watches.
The enormous prestige of the Tiffany & Co. brand and the Swatch Group’s watchmaking expertise and experience in the luxury segment form a powerful platform on which to build one of the world’s top luxury watchmakers.
Tiffany Watch Co. Ltd is a Swiss company. Its products are designed and manufactured in Switzerland and distributed selectively through Swatch Group and Tiffany & Co. retail distribution networks, including monobrand Tiffany & Co. watch boutiques in certain markets outside the United States. (Source: Swatch Group. com)