RENEWED VOWS: Giorgio Armani SpA and Fossil Group Inc. have agreed to extend their global watch partnership for another decade.
The companies said late Tuesday that the license covering Emporio Armani watches, first signed in 1997, has been renewed through 2023. The relationship has grown over its 17-year duration, adding jewelry in 2002, the A|X Armani Exchange brand of watches in 2008 and earlier this year Swiss-made timepieces under the Emporio Armani Swiss Made label.
Livio Proli, chief executive officer of Giorgio Armani SpA, remarked that Fossil’s “ability to design innovative products that reflect the spirit and style of Armani, as well as their ability to create and market Swiss-made timepieces, gives us great confidence in the future growth of our relationship.”
Fossil said in its annual report, issued in February, that it was negotiating to extend the Armani agreements, which were set to expire at the end of March.