Fossil and Puma Combine to Develop Watches and Smartwatches
Fossil and PUMA recently agreed to a global license partnership to design, develop, and distribute PUMA watches and smartwaches to 2028. “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 of Fossil Group.
The agreement will involve the coordination of both brands on the design and development of PUMA watches and smartwatches. The first products of this joint venture is expected to see their first market debut in 2019. Consumers will find the products in select department stores, specialty retailers and e-commerce platforms in Fossil watches retail network.
“Time makes of 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,” said Bjørn Gulden, CEO of PUMA.
Fossil Group has expended to over 17 brands in their watch portfolio since 1997 – which now include PUMA. Fossil Group’s total watch collection includes 14 brands in 300 plus styles, distributed across a global network of 50 countries.