Bad Breakup: Tiffany & Co. and Swatch exchange words
Tiffany & Co. and The Swatch Group Ltd. traded barbs Monday after the Swiss watchmaker said it ended its three-year partnership to manufacture watches for the American luxury jeweler. Swatch took the first jab, blaming Tiffany for “systematic efforts to block and delay the development of the business.” As a result, the company vowed to pursue a claim against Tiffany to recoup compensation for the loss of future business.
The American jeweler fired back in what is shaping up to be a he said, she said back-and-forth, denying that it neglected its obligations in the agreement. “Since Tiffany & Co. and The Swatch Group Ltd. entered upon this venture more than three years ago it has become increasingly clear that Swatch is unwilling to honor the terms of our agreement, make the necessary commitments and work cooperatively to develop the business for Tiffany & Co. watches in the luxury space,” the retailer said. “Despite assurances to the contrary made in 2007, Swatch has failed to provide appropriate distribution for Tiffany & Co. brand watches, with the result that our current business forecasts do not include any meaningful increase in watch sales or royalty income. “
The New York-based luxe jeweler “insisted that Swatch honor its own obligations, particularly its obligation to respect Tiffany’s rights regarding brand-management and product design.” Well, ouch.Who’s really to blame? Stay tuned…
Juicy Gets Blogger for New Ads
To coincide with the release of its fall accessory collection, Juicy Couture commissioned blogger Jamie Beck of From Me To You to create a series of cinemagraphs that will double as ads on style.com and fashionista.com starting today.
The photos, which feature video elements on a loop, were co-designed with Beck’s Web designer Kevin Burg. In addition to the display adds, the content will be featured on various social channels, Juicy Couture’s Tumblr and other online media. Additionally, YouTube’s StyleHaul network made a corresponding video – documenting the making of the project at the brand’s studio.
Richemont Wins Against Fakes
Compagnie Financière Richemont scored a $37.4 million default judgment against Concept Designs Unlimited Inc., a jeweler that sold counterfeit Cartier and Van Cleef & Arpels baubles at the same price as the originals — in some cases fetching as much as $30,000 for the fakes.
“If you look at all of the counterfeit cases, people know they are buying counterfeits and they don’t care,” said Stacey Hallerman, Richemont North America’s vice president and chief legal counsel. “This is a very unique case because the counterfeits were sold at retail prices.”
New Jersey District Judge Jose Linares entered the default judgment on Sept. 1 and ordered the New York-based jeweler to stop infringing the plaintiff’s trademarks after CDU failed to respond to the complaint, which was filed in April.
– Taneisha Jordan
Source & Photo: WWDSee the Top Ten Summer 2016 Trends for Women Over 40
Tags: Cartier, Concept Designs Unlimited Inc., counterfeit, Fashion Headlines, Jamie Beck, Juicy Couture, Kevin Burg, Richemont, Stacy Hallerman, The Swatch Group Ltd., Tiffany & Co., Van Cleef & Arpels