RICHARDSON, Texas, July 30, 2018 /PRNewswire/ -- Fossil Group, Inc. (NASDAQ: FOSL) announced today a global licensing agreement with Bayerische Motoren Werke Aktiengesellschaft ("BMW") for the design, development and distribution of BMW branded watches and smartwatches through 2023.
"BMW is one of the most iconic brands in the world," said Kosta Kartsotis, chairman and chief executive officer of Fossil Group. "We look forward to bringing our watch design expertise and smartwatch capabilities to BMW enthusiasts around the world."
In collaboration with the BMW team, Fossil Group will design and distribute BMW branded watches and accessories with the first collections available in 2019. The collections will be sold globally in more than 4,000 BMW retail channels and key retailers in Fossil Group's extensive global network.
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 fashion watches, jewelry, handbags, small leather goods and wearables. With our newest owned brand, Misfit, we're bringing style and technology to the high-growth connected space. We're 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, Chaps, Diesel, DKNY, Emporio Armani, kate spade new york, Marc Jacobs, Michael Kors, Puma and Tory Burch. We bring each brand story to life through an extensive wholesale distribution network across 150 countries and 500 retail locations. Certain press release and SEC filing information concerning the Company is also available at www.fossilgroup.com.
Certain statements contained herein that are not historical facts 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 the risks and uncertainties set forth in the Company's Annual Report on Form 10-K for the fiscal year ended December 30, 2017 filed with the Securities and Exchange Commission. These forward-looking statements are based on our current expectations and beliefs concerning future developments and their potential effect on us. While management believes that these forward-looking statements are reasonable as and when made, there can be no assurance that future developments affecting us will be those that we anticipate. Readers of this release should consider these factors in evaluating, and are cautioned not to place undue reliance on, the forward-looking statements contained herein. The Company assumes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise, except as required by law.
SOURCE Fossil Group, Inc.