Sportswear and equipment company PUMA has entered into a global license partnership agreement with Fossil Group on a range of wearables.
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The duo will collaborate on design, development and distribution through 2028, the two companies said in a statement. A range of PUMA-branded sports-watches and other wearables are set to launch next year.
“Time makes or breaks athletes, which is why the right partner for watches and wearables is particularly critical to our brand,” said Bjørn Gulden, chief executive officer of PUMA.
“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.”
Fossil Group has made a big bet on wearable technology in recent years and it seems to be paying off. Its sales of smartwatches and fitness trackers nearly doubled last year to more than $300 million, representing 14% of its watch revenue.
The Group, which has an incredible 300 wearables under its belt, is home to many brands. This includes Fossil, Relic, Abacus, Michele Watch & Now Coach NY, Skagen, and Zodiac Watches. Fossil also makes watches for brands such as Adidas, Emporio Armani, Karl Lagerfeld, Michael Kors, Marc by Marc Jacobs, Burberry, DKNY, Diesel, Armani Exchange and others. We can now add PUMA to the list.
“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.
The PUMA timepieces will be sold through select department stores, specialty retailers and Fossil’s e-commerce channels. Its more than likely the watches will be running on Google’s Wear OS.
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