FOSSIL GROUP, INC. ANNOUNCES CONTINUED PARTNERSHIP WITH MICHAEL KORS TO CREATE WATCHES AND JEWELRY
Rhea-AI Summary
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.
Positive
- 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
Negative
- None.
News Market Reaction – FOSL
On the day this news was published, FOSL gained 6.79%, reflecting a notable positive market reaction.
Data tracked by StockTitan Argus on the day of publication.
"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
FAQ
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