Swatch and Tiffany & Co. announce Stratigic Alliance The Swatch Group Ltd. and Tiffany & Co. today announced a strategic alliance to further the development, production and worldwide distribution of TIFFANY & CO. brand watches.

Michael J. Kowalski, chairman and chief executive officer of Tiffany & Co., stated “This alliance will place TIFFANY & CO. within the distinguished collection of luxury watch brands manufactured and distributed by the Swatch Group. Nick Hayek Jr. and I began discussing possible collaboration between our two companies over a year ago and I am delighted that these discussions have led to this historic agreement. Swatch Group is the best conceivable strategic partner for Tiffany’s long-planned re-entry into watch distribution. It is the leader in the high-end watch business with unparalleled distribution capabilities and experience in the luxury segment of the watch business.”
Under the agreements announced today, Swatch Group will incorporate a new watch-making company in Switzerland. The new company will be authorized to use Tiffany’s trademarks and operate under the Tiffany name. Tiffany will participate in the watch company’s before-tax profits and in its governance through one seat on its board of five directors, and seats on both the product design and marketing committees. The Watch Company will be wholly-owned by Swatch Group.

The two companies will host a press conference in Tiffany’s flagship New York store at 727 Fifth Avenue on Wednesday, December 5th at 11:00 a.m. to provide additional details about this arrangement.
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