Fossil Group Inc and PUMA SE signed a global license partnership agreement for the design, development and distribution of PUMA watches and smartwatches through 2028. For more information see the IDTechEx reports on wearable technology and digital health.
"PUMA is one of the world's leading sports brands. We are excited to partner with them and bring our world class design and distribution capabilities to the PUMA watch collection," said Kosta Kartsotis, chief executive officer, Fossil Group.
PUMA and Fossil Group will collaborate on the design and manufacturing of PUMA-branded watches and smartwatches, with products planned to hit the market in 2019. The new products will be available through select department stores, specialty retailers and e-commerce channels in Fossil Group's extensive global network.
Bjørn Gulden, CEO of PUMA says: "Time makes or breaks athletes, which is why the right partner for watches and wearables is particularly critical to our brand. We are pleased to team up with Fossil Group, whose strong focus on innovation will help us make products that fit the needs of our consumers and the world's fastest athletes."
Since 1997 when Fossil Group engaged its first licensing partner, the company has expanded its portfolio of brands to more than 17, now including PUMA. Many of the world's most recognizable brands look to Fossil Group as the premier partner for timepieces and accessories, which now include wearables for 14 brands in more than 300 styles, distributed in 50 countries and in 21 languages.
Source and top image: Fossil Group Inc
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