The deal which will run until 2028 will see Puma and Fossil Group collaborate on the design and manufacturing of Puma-branded watches and smartwatches, with products planned to hit the market in 2019.
The new products will be available through select department stores, specialty retailers and e-commerce channels in Fossil Group’s extensive global network.
Kosta Kartsotis, chief executive officer at Fossil Group said: “Puma is one of the world’s leading sports brands. We are excited to partner with them and bring our world class design and distribution capabilities to the Puma watch collection.”
Bjørn Gulden, CEO of Puma added: “Time makes or breaks athletes, which is why the right partner for watches and wearables is particularly critical to our brand. We are pleased to team up with Fossil Group, whose strong focus on innovation will help us make products that fit the needs of our consumers and the world’s fastest athletes.”
Since 1997 when Fossil signed its first licensing agreement the company has expanded its portfolio to 17 brands including Diesel, Armani Exchange, Marc Jacobs and Karl Lagerfeld.