US. Timex Group has struck a licensing agreement with Italian fashion house Valentino to create, produce and distribute a luxury watch collection under the Valentino brand.
Annual retail turnover for the collection is expected to exceed US$80 million, according to the companies.
Fashion designer Valentino Garavani will participate in the design of the timepieces, and both his company and Timex Group will work on development initiatives in global luxury markets.
“The expertise and the strong results achieved by Timex Group in high-quality watchmaking will enable Valentino to reach a leadership segment in a growing segment of the luxury market,” Valentino CEO Stefano Sassi said in a statement.
“The strong attention to style and quality of the product, together with an innovative plan developed with the partner, re-assert the ambitions of growth of our brand.”
Timex Group President and CEO Joe Santana said that Timex was “delighted” to add Valentino watches to its portfolio.
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