Timing is Right

Fossil Inc. (Richardson, Texas) has entered into a long-term global license agreement with adidas-Salomon Group (Herzogenaurach, Germany) to produce and distribute adidas watches and functional timing products as of Jan. 1, 2006.

Both companies have agreed to keep the financial terms confidential.

“The adidas sport brand fits our company directives perfectly, providing us a world recognized brand in an increasingly important sport category,” said Mike Barnes, Fossil’s president of international sales. “Utilizing our worldwide infrastructure in design, sourcing, marketing and distribution should enable the accelerated growth of adidas timing sales by bringing the right product to a worldwide market in a timely and efficient manner.”

Fossil also released its third quarter earnings report. See that and other company financial statements on the Retail Financial Reports channel on this home page.