Fossil Group Comments on Armani Group Partnership

Rhea-AI Summary

Fossil Group, Inc. (NASDAQ: FOSL) reaffirms its long-standing partnership with the Armani Group, established in 1997, focusing on innovative design and product distribution under the Emporio Armani, Armani Exchange, and Emporio Armani Swiss brands. CEO Kosta Kartsotis highlighted the potential for brand equity growth as Giorgio Armani collaborates with Parmigiani Fleurier in the luxury watch sector. Armani's Deputy Managing Director, Giuseppe Marsocci, expressed confidence in Fossil's design capabilities, ensuring future growth in their partnership.

Positive

• Fossil Group has a long-standing partnership with the Armani Group since 1997, indicating stability.
• The partnership focuses on innovation and strong growth, enhancing brand value.
• Giorgio Armani's collaboration with Parmigiani Fleurier can enhance overall industry excitement.

Negative

• None.

RICHARDSON, Texas, Dec. 15, 2020 (GLOBE NEWSWIRE) -- Fossil Group, Inc. (NASDAQ: FOSL) today issued the following statement regarding its continued partnership with the Armani Group. The two companies established a partnership in 1997, and under the current license agreements, Fossil Group designs and distributes products under the Emporio Armani, Armani Exchange, and Emporio Armani Swiss brands.

“We are proud of our long-standing relationship with the Armani Group and our ability to drive innovation and strong growth for Emporio Armani, Emporio Armani Swiss, and Armani Exchange. We want to congratulate Giorgio Armani on the announcement of their collaboration with Parmigiani Fleurier under the Giorgio Armani brand,” said Fossil Group CEO Kosta Kartsotis. “The Giorgio Armani brand entering the exclusive luxury watch market will help to build brand equity, excitement, and energy for the entire watch industry.”

“Armani Group has had a strong partnership with Fossil Group for more than twenty years,” said Giuseppe Marsocci, Deputy Managing Director of Armani. “Their ability to design products that reflect the spirit and style of Armani gives us great confidence in the future growth of our relationship.”

About Fossil Group, Inc.
We are a global design, marketing, distribution and innovation company specializing in lifestyle accessories. Under a diverse portfolio of owned and licensed brands, our offerings include fashion watches, jewelry, handbags, small leather goods and wearables. We are committed to delivering the best in design and innovation across our owned brands, Fossil, Michele, Misfit, Relic, Skagen and Zodiac, and licensed brands, Armani Exchange, BMW, Diesel, DKNY, Emporio Armani, kate spade new york, Michael Kors, PUMA and Tory Burch. We bring each brand story to life through an extensive distribution network across numerous geographies, categories and channels. Certain press release and SEC filing information concerning us is also available at www.fossilgroup.com.

Contacts:
Investor Relations:
Christine Greany
The Blueshirt Group
christine@blueshirtgroup.com 

Global Corporate Communications:
James Webb
Fossil Group
jwebb1@fossil.com 

FAQ

What is the significance of Fossil Group's partnership with the Armani Group?

Fossil Group's partnership with the Armani Group, established in 1997, is significant for ongoing innovation and growth in luxury watch and accessory markets.

How will Giorgio Armani’s collaboration with Parmigiani Fleurier affect Fossil Group?

Giorgio Armani’s collaboration may enhance brand equity and excitement, positively impacting Fossil Group's product lines under the Armani brand.

What brands does Fossil Group design products for under the Armani partnership?

Fossil Group designs products for Emporio Armani, Armani Exchange, and Emporio Armani Swiss under its partnership with the Armani Group.

What does Fossil Group aim to achieve through its partnership with Armani?

Fossil Group aims to drive innovation and strong growth in the luxury accessory market through its partnership with Armani.