(Adds Tiffany comment)
ZURICH, April 25 A Dutch appeals court ruled on
Tuesday that Swatch Group deserved compensation in a
$400 million row with U.S. luxury goods maker Tiffany over a
failed watch venture.
Tiffany said it was considering an appeal.
An arbitration panel in the Netherlands had ordered Tiffany
in December 2013 to pay Swatch 402 million Swiss francs ($404.5
million) in damages over the aborted project to produce and
Swatch had booked the money as one-off income in 2013,
before a lower Dutch court overturned the panel's ruling in
Swatch appealed against that decision and has now won the
appeal, a spokesman for the court in Amsterdam said.
"Swatch Group was convinced that the arbitration award of
December 21, 2013 was issued correctly and contained no formal
error. This was confirmed by the judgement of the Court of
Appeal of Amsterdam today," the Swiss group said in a statement.
But Tiffany said the case might still go to another round.
"We have the right to appeal the Appellate Court's decision
to the Supreme Court of the Netherlands and are evaluating that
option," a company spokesman said by email in response to a
Swatch shares rose 1.9 percent by 1225 GMT, while Tiffany
shares had not started trading.
($1 = 0.9939 Swiss francs)
(Reporting by Zurich newsroom; Editing by Adrian Croft)