RICHARDSON, Texas, Aug. 12, 2014 (GLOBE NEWSWIRE) -- Fossil Group, Inc. (Nasdaq:FOSL) (the "Company") announced today that it has extended a global watch licensing agreement with Giorgio Armani S.p.A through 2023.
The Armani Group, a leading fashion and luxury goods group, first partnered with Fossil Group, a global design, marketing and distribution company specializing in fashion accessories, in 1997 to design, develop and distribute watches under the Emporio Armani label. Over the history of the relationship, jewelry was added in 2002, watches under the Armani Exchange (A/X) brand in 2008 and a Swiss made collection of timepieces under the Emporio Armani Swiss Made label launched in 2014.
Kosta Kartsotis, Chief Executive Officer of Fossil Group, commented on the partnership: "We are very proud of our longstanding history with the Armani Group and extremely pleased to extend our partnership for another 10 years. Our history with the Armani Group runs deep and this global licensing agreement will allow us to continue to leverage our strengths in design, innovation, production and global distribution to further grow the Armani brand and extensive line of timepieces."
Livio Proli, Chief Executive Officer of Giorgio Armani S.p.A. said: "We are very pleased to continue our partnership with the Fossil Group given their position as a leader in the global watch market. Their ability to design innovative products that reflect the spirit and style of Armani, as well as their ability to create and market Swiss made timepieces gives us great confidence in the future growth of our relationship."
Certain statements contained herein that are not historical facts, including future earnings guidance, constitute "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995 and involve a number of risks and uncertainties. The actual results of the future events described in such forward-looking statements could differ materially from those stated in such forward-looking statements. Among the factors that could cause actual results to differ materially are: changes in economic trends and financial performance, changes in consumer demands, tastes and fashion trends, lower levels of consumer spending resulting from a general economic downturn, shifts in market demand resulting in inventory risks, changes in foreign currency exchange rates, and the outcome of current and possible future litigation, as well as the risks and uncertainties set forth in the Company's Annual Report on Form 10-K for the fiscal year ended December 28, 2013 filed with the Securities and Exchange Commission (the "SEC").
About Fossil Group, Inc.
Fossil Group, Inc. is a global design, marketing and distribution company that specializes in consumer lifestyle and fashion accessories. The Company's principal offerings include an extensive line of men's and women's fashion watches and jewelry sold under a diverse portfolio of proprietary and licensed brands, handbags, small leather goods, accessories and clothing. The Company's products are sold to department stores, specialty retail stores and specialty watch and jewelry stores in the U.S. and in approximately 150 countries worldwide through approximately 25 Company-owned foreign sales subsidiaries and a network of over 60 independent distributors. The Company also distributes its products in over 540 Company-owned and operated retail stores, through its international e-commerce websites and through the Company's U.S. e-commerce website at www.fossil.com. Certain press release and SEC filing information concerning the Company is also available at www.fossilgroup.com.
About Giorgio Armani S.p.A.
The Armani Group is among the leading fashion and luxury companies in the world with more than 6,700 employees and 12 production facilities. The group designs, produces, distributes and sells fashion and lifestyle products, including apparel, accessories, eyewear, watches, jewelry, cosmetics, perfumes, furniture and home decor under the following brands: Giorgio Armani Privé, Giorgio Armani, Emporio Armani, Armani Collezioni, AJ Armani Jeans, A/X Armani Exchange, Armani Junior and Armani Casa. The group's namesake distribution network includes 2,473 stores, comprised of 164 Giorgio Armani stores, 271 Emporio Armani stores, 469 Armani Collezioni stores, 270 A/X Armani Exchange stores, 722 AJ Armani Jeans stores, 167 Armani Junior stores and 59 Armani/Casa stores in more than 60 countries across the globe.
CONTACT: Investor Relations: Eric M. Cerny FOSSIL GROUP, Inc. (855) 336-7745 Allison Malkin ICR, Inc. (203) 682-8225 Public Relations: Erin Patton FOSSIL GROUP, Inc. (972) 889-5805
Source:Fossil Group, Inc.