A universal licensing collaboration agreement between PUMA, a company that makes sportswear and equipment, and Fossil Group, a firm that makes a variety of wearables, has been signed.
According to a joint statement released by both organizations, the two will work together through the year 2028 on product design, development, and distribution. The next year, PUMA will release a new line of sports watches and other wearables.
According to Bjrn Gulden, Chief Executive Officer of PUMA, “Time will make or break sportsmen, and that is why the appropriate partnership for timepieces and wearables is so crucial to our brand.”
“We are excited to tell you that we will be working with Fossil Group. Their strong focus on development will help us make products that meet the needs of our customers and the needs of the fastest competitors in the world.”
In recent years, Fossil Group has placed a significant bet on wearable technology, and so far, it appears that this gamble is paying off. The company’s sales of timepieces and fitness bands more than doubled in the past year, reaching more than $300 million and accounting for 14 per cent of the company’s income from watches.
The Group is home to a number of different businesses and boasts an astonishing collection of 300 different wearables. The brand’s Fossil, Relic, Abacus, Michele Watch & Now Coach NY, Skagen, and Zodiac Watches are included in this category. In addition, Fossil manufactures timepieces for other companies’ brands, including Adidas, Emporio Armani, Karl Lagerfeld, Michael Kors, Marc by Marc Jacobs, Burberry, DKNY, Diesel, Armani Exchange, and more. PUMA is now eligible to be added to the list.
“PUMA is among the most successful sports brands in the world. According to Kosta Kartsotis, Chief Executive Officer of the Fossil Group, “We are pleased to work with them and offer our world-renowned innovation and marketing skills to the PUMA wristwatch line.”
There will be a limited number of department stores, specialized merchants, and online sales channels via which the PUMA timepieces can be purchased. It is highly likely that the watches will use Google’s Wear OS as their operating system.