Today, Fossil Group Inc. announced a global licensing agreement with Bayerische Motoren Werke Aktiengesellschaft (“BMW”) for the design, development and distribution of BMW branded watches, smartwatches and accessories through 2023.
The first products resulting from this partnership will be introduced in 2019 and will be sold globally in more than 4,000 BMW retail channels and key retailers in Fossil Group’s large global network.
“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.”
Fossil is no stranger to licensing agreements, currently working with Armani Exchange, Chaps, Diesel, DKNY, Emporio Armani, kate spade new york, Marc Jacobs, Michael Kors, Puma and Tory Burch. Fossil also has its own brands, including Fossil, Michele, Misfit, Relic, Skagen and Zodiac.
This partnership promises to apply Internet of Things technology to allow customers to personalize and stay connected with their vehicles.