Fossil Group has today signed a further 10-year global licensing agreement with Michael Kors Holdings Limited, with the group set to continue to produce its watches and jewellery through to 2024.
The Michael Kors brand, known for its luxury fashion and accessories, has been working with Fossil Group since 2004 on a line of fashion-forward timepieces that are designed, developed and distributed by Fossil Group. The Michael Kors label has become one of the bestselling watch brands in the UK, with its newly-launched jewellery collections following this trajectory throughout 2014.
The relationship was expanded to encompass jewellery in 2010 and the two companies are in the process of collaborating further to grow their men’s watch offer.
Chief executive officer of Fossil Group Kosta Kartsotis said: "We are very proud of our partnership with the Michael Kors brand and our role in contributing to the brand’s explosive growth over the years. This global licensing agreement allows us to further grow the Michael Kors brand and extensive line of watches and jewellery and explore other opportunities in the accessories category. We are pleased to extend our partnership and look forward to collaborating for years to come."
According to Michael Kors chairman and chief executive officer John D. Idol, the fashion house plans to build on the already solid base of fashion watches and jewellery established in partnership with Fossil. He said: "Accessories are central to the Michael Kors brand DNA, and we will continue to build on that positioning as we grow globally. Fossil’s position as a leader in the global watch market has made them an ideal partner in the design and development of innovative watches and jewellery that capture the sophistication, energy and style of the Michael Kors lifestyle. We have enormous confidence in the future growth of our relationship and the many opportunities that lie ahead."