Puma licences watches and wearables line to Fossil
today Apr 25, 2018
German sport brand Puma and US watches and accessories group Fossil have recently signed a worldwide licence deal for the design, development and distribution of Puma’s traditional and connected watches and wearable accessories. The agreement is set to last until 2028, and the first Fossil-designed Puma watches will be available next year at select department stores, specialised retailers and online.
Bjørn Gulden, CEO of Puma, said: “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.”
Puma, which in the first quarter 2018 recorded a revenue of €1.131 billion, up 12.5 %, previously worked with the Mywa group for its watches lines.
As for US watches and accessories group Fossil, which features 17 labels in its licence portfolio (among them Armani Exchange, Diesel and Kate Spade), as well as producing its own brands Fossil and Misfit, in the 2017 financial year its sales fell by 14%, down to $2.78 billion. With the watches segment alone, the US group generated a revenue of $2.19 billion, equivalent to a 6% decrease.
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