Swatch and Tiffany join forces in alliance

The Swatch Group – the world's largest manufacturer of timepieces and movements – has signed a strategic alliance to produce watches under the Tiffany label.

This content was published on December 3, 2007 - 13:11

Under the terms of a 20 years agreement, Swatch said in a statement the alliance was to "further the development, production and worldwide distribution" of Tiffany & Co. brand watches.

Swatch will incorporate a new watchmaking company in Switzerland, which will be authorised to use Tiffany's trademarks and operate under the name of the United States-based company.

Tiffany will participate in the watch company's pre-tax profits and have a seat on its board of five directors.

The watch company will be wholly owned by Swatch.

The chairman of the Swatch Group, Nicolas G. Hayek, described the agreement as a "pathbreaking strategic move".

"It allows without any financial capital transaction the maximum utilisation of manufacturing and distribution resources of both partners," he said.

In compliance with the JTI standards

In compliance with the JTI standards

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