Fossil Acquires Latin America Distribution Business From Bentrani Watches
Fossil (Nasdaq: FOSL) announced today that it has acquired the distribution business for Latin America from its largest third-party distributor, Bentrani Watches, LLC ("Bentrani"). Bentrani, based in Miami, Florida, has been a distributor for the Company for ten years and distributes certain of the Company's proprietary and licensed brand products in sixteen Latin American countries, including Chile, Argentina, Panama, Colombia, Venezuela and Uruguay.
The Company's Chief Executive Officer, Kosta Kartsotis, commented, "We have had a remarkable partnership with the Bentrani team. Latin America is one of the Company's fastest growing regions in the world and we feel honored Bentrani is joining the Fossil team to guide that growth."
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: changes in economic trends and financial performance, changes in consumer demands, tastes and fashion trends, lower levels of consumer spending resulting from a general economic downturn, shifts in market demand resulting in inventory risks, changes in foreign currency exchange rates, and the outcome of current and possible future litigation, as well as the risks and uncertainties set forth in the Company's Annual Report on Form 10-K for the fiscal year ended December 31, 2011 and its Quarterly Reports on Form 10‑Q filed with the Securities and Exchange Commission (the "SEC").
Fossil is a global design, marketing and distribution company that specializes in consumer fashion accessories. The Company's principal offerings include an extensive line of men's and women's fashion watches and jewelry sold under proprietary and licensed brands, handbags, small leather goods, belts, sunglasses, soft accessories, shoes and clothing. In the watch and jewelry product categories, the Company's offerings include a diverse portfolio of globally recognized proprietary and licensed brand names under which its products are marketed. The Company's extensive range of accessory products, brands, distribution channels and price points allows it to target style-conscious consumers across a wide age spectrum on a global basis. The Company's products are sold to department stores, specialty retail stores and specialty watch and jewelry stores in the U.S. and in approximately 120 countries worldwide through 23 Company-owned foreign sales subsidiaries and a network of over 60 independent distributors. The Company also distributes its products in over 400 Company-owned and operated retail stores and through international e-commerce websites and the Company's U.S. e-commerce website at www.fossil.com, where certain product, press release and SEC filing information concerning the Company are also available.
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