NEW YORK — In another move to expand its offerings, Juicy Couture has signed a licensing agreement with Movado Group Inc. to design, produce and distribute a collection of watches.
It is the fourth deal in recent months for contemporary brand Juicy Couture, including the launch of footwear licensed to Schwartz & Benjamin, the debut of sunglasses under a license with Safilo Group and the introduction of the Couture Couture 20-piece designer-price collection.
The footwear, sunglasses and designer range will begin retailing in spring, while the watch assortment under the Juicy Couture name will hit select high-end retailers and Juicy Couture boutiques in the U.S. next fall, with distribution in Europe and Asia to follow. Watches under the Couture Couture name might come down the road.
Juicy Couture also plans to launch a fragrance late next year and intends to open 10 to 12 freestanding boutiques around the world over the next 12 months.
"Juicy Couture is a great lifestyle brand that has remained fresh," said Efraim Grinberg, president and chief executive officer of Movado Group. "It's growing very quickly at retail in some of the best stores in the world, and we believe it has a tremendous opportunity."
The assortment is anticipated to comprise 150 stockkeeping units based on eight to 10 groupings and will feature the same feminine, whimsical styling for which the Southern California-based brand, founded in 1997 by Gela Taylor and Pamela Skaist-Levy and purchased in 2003 by Liz Claiborne Inc., has become known. Juicy also won this year's Accessories Council Excellence Accessory Brand Launch award.
The timepieces are expected to retail from $195 to $2,000 for designs featuring precious stones and metals. Average prices will be $350 to $400.
Movado Group, based in Paramus, N.J., owns the Movado, ESQ Swiss, Ebel and Concord watch brands. It also designs, produces and distributes timepieces for Coach, Tommy Hilfiger and Hugo Boss.
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