FOSSIL GROUP, INC. ANNOUNCES CONTINUED PARTNERSHIP WITH MICHAEL KORS TO CREATE WATCHES AND JEWELRY
Fossil Group (NASDAQ: FOSL) has announced the extension of its partnership with Michael Kors through 2027. Under this agreement, Fossil will continue to design and produce watches and jewelry for Michael Kors, maintaining their distribution across global networks. The partnership, which has lasted over 20 years, represents one of Fossil's most valued licensed relationships.
Franco Fogliato, CEO of Fossil Group, expressed honor in maintaining the trusted partnership, while John D. Idol, Chairman and CEO of Capri Holdings and CEO of Michael Kors, affirmed satisfaction with the continued collaboration.
Fossil Group (NASDAQ: FOSL) ha annunciato l'estensione della sua partnership con Michael Kors fino al 2027. In base a questo accordo, Fossil continuerà a progettare e produrre orologi e gioielli per Michael Kors, mantenendo la loro distribuzione attraverso reti globali. La partnership, che dura da oltre 20 anni, rappresenta una delle relazioni di licenza più preziose per Fossil.
Franco Fogliato, CEO di Fossil Group, ha espresso il suo onore nel mantenere questa fidata collaborazione, mentre John D. Idol, Presidente e CEO di Capri Holdings e CEO di Michael Kors, ha confermato la sua soddisfazione per la continuazione di questa cooperazione.
Fossil Group (NASDAQ: FOSL) ha anunciado la extensión de su asociación con Michael Kors hasta 2027. En virtud de este acuerdo, Fossil continuará diseñando y produciendo relojes y joyas para Michael Kors, manteniendo su distribución a través de redes globales. La asociación, que ha durado más de 20 años, representa una de las relaciones de licencia más valoradas de Fossil.
Franco Fogliato, CEO de Fossil Group, expresó su honor al mantener esta asociación de confianza, mientras que John D. Idol, Presidente y CEO de Capri Holdings y CEO de Michael Kors, afirmó su satisfacción por la colaboración continua.
화석 그룹 (NASDAQ: FOSL)은 마이클 코어스와의 파트너십을 2027년까지 연장한다고 발표했습니다. 이 계약에 따라 화석은 마이클 코어스를 위한 시계와 보석을 계속 디자인하고 생산하며, 전 세계 네트워크를 통한 유통을 유지합니다. 20년 넘게 지속된 이 파트너십은 화석의 가장 소중한 라이센스 관계 중 하나입니다.
프란코 포글리아토 화석 그룹 CEO는 신뢰받는 파트너십을 유지하게 되어 영광이라고 말했으며, 존 D. 아이돌 카프리 홀딩스 회장 겸 CEO이자 마이클 코어스 CEO는 지속적인 협력에 대한 만족감을 표명했습니다.
Fossil Group (NASDAQ: FOSL) a annoncé l'extension de son partenariat avec Michael Kors jusqu'en 2027. Dans le cadre de cet accord, Fossil continuera à concevoir et à produire des montres et des bijoux pour Michael Kors, en maintenant leur distribution à travers des réseaux mondiaux. Ce partenariat, qui dure depuis plus de 20 ans, représente l'une des relations de licence les plus précieuses pour Fossil.
Franco Fogliato, PDG de Fossil Group, a exprimé son honneur de maintenir ce partenariat de confiance, tandis que John D. Idol, Président et PDG de Capri Holdings et PDG de Michael Kors, a confirmé sa satisfaction quant à la collaboration continue.
Fossil Group (NASDAQ: FOSL) hat die Verlängerung seiner Partnerschaft mit Michael Kors bis 2027 bekannt gegeben. Im Rahmen dieser Vereinbarung wird Fossil weiterhin Uhren und Schmuck für Michael Kors entwerfen und produzieren und deren Vertrieb über globale Netzwerke aufrechterhalten. Die Partnerschaft, die seit über 20 Jahren besteht, stellt eine der wertvollsten Lizenzbeziehungen von Fossil dar.
Franco Fogliato, CEO von Fossil Group, äußerte seine Ehre, diese vertrauensvolle Partnerschaft aufrechtzuerhalten, während John D. Idol, Vorsitzender und CEO von Capri Holdings und CEO von Michael Kors, seine Zufriedenheit mit der fortgesetzten Zusammenarbeit bekräftigte.
- Secured extension of valuable Michael Kors license agreement through 2027
- Maintains long-term strategic partnership spanning over 20 years
- Preserves significant global distribution network for watches and jewelry
- None.
Insights
The renewal of Fossil's licensing agreement with Michael Kors through 2027 represents a important strategic win for Fossil Group, particularly given their current
Three key implications emerge from this announcement: First, it provides essential business stability and continuity for Fossil's core revenue stream at a critical time when the company faces significant market pressures. Second, it signals confidence from a major luxury brand in Fossil's manufacturing and distribution capabilities, potentially strengthening Fossil's position with other current and prospective licensing partners. Third, it maintains Fossil's important presence in the premium fashion watch segment, which continues to offer higher margins compared to the increasingly competitive smartwatch market.
However, the agreement's value should be viewed within the context of broader market challenges. The traditional watch market has been experiencing structural changes, with increasing competition from smartwatches and changing consumer preferences. While the partnership renewal provides operational stability, Fossil still needs to navigate these industry-wide challenges and evolve its product offerings to maintain relevance in a rapidly changing market.
The absence of financial terms in the announcement makes it difficult to assess the direct revenue impact. However, the continuation of this two-decade-long partnership suggests mutually beneficial terms that could help stabilize Fossil's business model during a critical period. For investors, this represents a positive sign of business continuity but should be weighed against the broader challenges facing both the company and the traditional watch industry.
"Our relationship with Michael Kors remains among our most valued licensed partnerships," says Franco Fogliato, CEO of Fossil Group. "We are honored to have been entrusted with their brand for over 20 years and look forward to the exciting opportunities that lie ahead in our partnership."
"We're delighted to announce the continuation of our long partnership with the Fossil Group. They've been a valued partner of the Michael Kors brand for many years," says John D. Idol, Chairman and CEO of Capri Holdings Limited and CEO of Michael Kors.
To learn more about Fossil Group and their owned and licensed brands, visit fossilgroup.com.
About Fossil Group, Inc.
Fossil Group, Inc. is a global design, marketing, distribution and innovation company specializing in lifestyle accessories. Under a diverse portfolio of owned and licensed brands, our offerings include watches, jewelry, handbags, small leather goods, belts and sunglasses. We are committed to delivering the best in design and innovation across our owned brands, Fossil, Michele, Relic, Skagen and Zodiac, and licensed brands, Armani Exchange, Diesel, DKNY, Emporio Armani, kate spade new york, Michael Kors 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 the Company is also available at www.fossilgroup.com.
About Michael Kors
Michael Kors is a world-renowned, award-winning designer of luxury accessories and ready-to-wear. His namesake company, established in 1981, currently produces a range of products under Michael Kors Collection, MICHAEL Michael Kors and Michael Kors Mens, including accessories, ready-to-wear, footwear, watches, and a full line of fragrance products. Michael Kors stores are operated in the most prestigious cities in the world. In addition, Michael Kors operates digital flagships across
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SOURCE Fossil Group
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