Swatch Group plans to appeal a ruling by a Dutch trial court on Wednesday that set aside an arbitration award issued in December 2013 against Tiffany & Co. The award in Swatch’s favor — Tiffany was required to pay Swatch 402 million Swiss francs, or $416.7 million — was issued by a three-member arbitration panel in connection with claims and counterclaims between Swatch and Tiffany under a joint venture agreement they entered into that became effective in December 2007. The agreement foresaw a 20-year alliance that created a new Swiss-based company to manufacture, design and market luxury watches under the Tiffany name. But sales failed to meet expectations and the venture was scrapped in 2011. The parties went to arbitration in 2012. While arbitration awards are typically final, limited grounds are available under Dutch law in which the awards can be set aside. Tiffany chose to go that route, filing a petition in March 2014 to annul the award. A hearing on the matter was heard in January by a three-judge panel and the decision was issued Wednesday. Tiffany did not respond to requests for comment on Swatch’s decision to appeal. In a Form 8-K regulatory filing with the Securities and Exchange Commission, however,
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