Tiffany & Co.

New York, Dec 2
An interesting move had been made by Tiffany & Co.

Currently, Tiffany produces their own classic watches under their brand. Now, they had announced an alliance with the Swiss holding Swatch Group for the development, production and worldwide distribution of them.

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The head of the American jeweler, Michel Kovalsky said Tiffany watches, manufactured and promoted by Swatch Group, will take a more powerful stand in the world market. He said the association agreement is a "historic event" for both companies.

With only a year of negotiations, the agreement will last for 20 years (with an option to extend the deal for another 10 years). Swatch will incorporate a new watch-making company under the name of Tiffany in Switzerland, and the trademarks of Tiffany will be used.

source: reuters