Swiss watchmaker Swatch Group says it is being sued for SFr541.9 million ($590 million) by its former business partner Tiffany over a contract dispute.
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Swatch says the New York-based jeweller is striking back after it last year claimed SFr3.8 billion in damages from Tiffany. The watchmaker accuses Tiffany of obstructing a joint venture the companies created in 2007.
Swatch said in a statement on Monday that Tiffany’s counterclaim “has no factual or legal basis and will be vigorously contested”.
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The Basel fair provides around 2,000 exhibitors from 45 countries with a unique opportunity to showcase their newest products and the latest trends. (Pictures: Christoph Balsiger, swissinfo.ch)
You can find an overview of ongoing debates with our journalists here. Please join us!
If you want to start a conversation about a topic raised in this article or want to report factual errors, email us at english@swissinfo.ch.