Michael Kors And Fossil Group Renew Global Licensing Agreement For Watches and Jewelry

Michael Kors Holdings Limited (NYSE: KORS) and Fossil Group, Inc. (Nasdaq: FOSL) announced today that they have renewed their global licensing agreement through 2024. Michael Kors, a global luxury lifestyle brand, first partnered with Fossil Group, a global design, marketing and distribution company specializing in fashion accessories, in 2004 to design, develop and distribute watches under the Michael Kors label. The relationship expanded to encompass jewelry in 2010 and the two companies are currently collaborating to grow the men's watch business. Kosta Kartsotis, Chief Executive Officer of Fossil Group, commented: "We are very proud of our partnership with the Michael Kors brand and our role in contributing to the brand's explosive growth over the years. This global licensing agreement allows us to further grow the Michael Kors brand and extensive line of watches and jewelry and explore other opportunities in the accessories category. We are pleased to extend our partnership and look forward to collaborating for years to come."John D. Idol, Chairman and Chief Executive Officer of Michael Kors, said: "We are very pleased to continue our partnership with the Fossil Group. Accessories are central to the Michael Kors brand DNA, and we will continue to build on that positioning as we grow globally. Fossil's position as a leader in the global watch market has made them an ideal partner in the design and development of innovative watches and jewelry that capture the sophistication, energy and style of the Michael Kors lifestyle