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Top: Fossil’s Mother of Pearl Dial and Red Degrade Flame models. Bottom: Adidas-Salomon’s R7 Quad Drive and trainer. Adidas-Salomon and Fossil will work together on fulfilling the athletes’ needs in terms of functional and innovative time measurement solutions | |
US. Fossil has entered into a long-term global license agreement with adidas International Marketing, the entity of the adidas-Salomon Group, to produce and distribute adidas watches and functional timing products as of 1 January, 2006.
Adidas-Salomon’s partnership with current licensee partner, Hong Kong company Stelux Watch Limited, will end on 31 December, 2005.
This agreement enables adidas-Salomon, one of the world’s leading sports companies, to swap technical know-how with Dallas company Fossil, known for its trendy and innovative watches. The former will also be able to benefit from Fossil’s huge distribution network which extends across 90 countries worldwide.
Fossil states: “Adidas-Salomon and Fossil will work together on fulfilling the athletes’ needs in terms of functional and innovative time measurement solutions.”
“The adidas sport brand fits our company directives perfectly, providing us a world recognized brand in an increasingly important sport category. Utilizing our worldwide infrastructure in design, sourcing, marketing and distribution should enable the accelerated growth of adidas timing sales by bringing the right product to a worldwide market in a timely and efficient manner,” said Mike Barnes, Fossil’s President of International Sales.
Fossil designs, develops, markets and distributes a huge array of fashion watches sold under the company’s proprietary and licensed brands. It also produces small leather goods, belts, handbags, sunglasses, jewellery and apparel.
For details, contact Susan Merz, Director, Global Travel Retail at 2280 N. Greenville Avenue, Richardson, TX 75082 US; tel: +1 972 699 2242; fax: +972 498 9397; email: susanm@fossil.com; website: www.fossil.com.
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