Roger Federer's 15-match winning streak came to an end on Sunday with his defeat at the hands of Jiri Novak in the Allianz Suisse Open.

So perhaps now the Swiss can finally celebrate the Wimbledon victory he completed just a week ago.

Federer has barely had time to step back and appreciate his maiden grand slam victory, secured on the immaculately-tailored lawns at the All England club.

But following his 5-7 6-3 6-3 1-6 6-3 defeat by Novak in Gstaad on red clay, the Swiss star can now soak up the glory.

He will doubtless use the time to build a trophy cabinet and a cowshed for the heifer named Juliette he was given by Gstaad organisers in recognition of his performance at Wimbledon.

As well as getting to grips with Juliette, Federer also finally has time to milk the applause despite his failure to win what would have been his first tournament victory on home soil after defeats at the hands of Thomas Enqvist and Tim Henman in separate finals in Basle.

"Right now I'm just disappointed, I was so close," said Federer.

"I hoped to win my first title in Switzerland. I gave it all I had. It's a pity I couldn't finish off in style but I still think it was a good performance.

"It was a great week for me. Now I will just relax and reflect on my Wimbledon title."

Sportingly, the top seed refused to blame his defeat in a two-hour 49-minute match on his exertions over the previous fortnight in London.

"He played a superb match, he deserved to win this year. He made me work hard. The best player won today, he was returning as good as anybody," said Federer.

He thus missed out on what would have been his sixth tournament win of the year but can console himself with the fact that he still leads the ATP Champions Race and that his win-loss record of 53-10 for the year is the best in the world this year.

As for Novak, this was his first triumph since his previous victory which also came in Gstaad two years ago when he defeated Juan Carlos Ferrero of Spain in the final.

In the intervening period he has lost three finals.

And the Czech, like Federer considered one of the true artists of the game, was delighted to have beaten the new Wimbledon champion.

"I'm the happiest person in the world!" said Novak.

"It was a fantastic week. It's my second title here in a row. Gstaad is something special for me, having won two singles and two doubles titles here."

Gstaad is a town in the Alps region and Novak admits it is one of his favourite venues.

"I'm enjoying this place. I think the altitude is the key for me playing well here," he said.

"I was expecting a great match. I'm in great shape and I had nothing to lose. I think the key was that I was fighting until the end.

"I beat the Wimbledon champion, it's the greatest.

"Roger played excellent tennis all week, I was a little bit lucky at the end.

"He is one of the best players in the world. I think he wanted the title here in Switzerland. I'm really sorry for the Swiss people but such is sport."

Federer was seeking a tournament hat-trick following his victories on grass at Halle and Wimbledon, while Novak is on a roll in Gstaad, having not defended his title last year because of 'flu.