Tiffany loses arbitration battle with Swatch

|About: Tiffany & Co. (TIF)|By:, SA News Editor

An arbitration panel in the Netherlands orders Tiffany (TIF) to pay Swatch (SWGAY) $449M to settle a dispute over a contract.

An ambitious plan by the companies to sell watches together under a joint venture went sideways back in 2011.

Reps with Tiffany say the they are shocked by the ruling and note the luxury retailer plans to review potential legal actions.