The sports giant and the watch group have signed a licensing agreement for design, development and distribution of watches and wearable technology
The German sports colossus and the large American watchmaking company have signed a licensing agreement for the design, development and distribution of watches and accessories with technological content from Puma.
The deal will last until 2028. Accessories will be available starting next year either online or in traditional stores.
Bjørn Gulden, CEO of Puma, commented: “The Fossil group has a very important focus on innovation and that is why we are happy to work with them, helping us to create products that will satisfy our consumers and the fastest athletes” .
Puma closed the first quarter of 2018 with sales up 12.5% to 1.13 billion euros and has worked in the past with the Mywa Swiss watch and jewelery group for the watch line.
For the current year, Fossil’s smartwatch and tracker sales, explained the number one company Kosta Kartsotis, doubled, rising to 300 million dollars (244 million euros, approximately), equivalent to almost 15 % of turnover.