Watchmaker Movado has entered into a worldwide licensing agreement to start manufacturing watches for international fashion group Hugo Boss, effective March 21.
The organizations will unite to design, produce and manufacture a watch collection under the brand names Boss and Hugo, the Movado Group announced Thursday.
Per the agreement, Movado has exclusive rights to manufacture and distribute the full collection of fashion watches, according to a company release. Hugo Boss retail locations, along with select wholesale distribution outlets in the United States, Europe and Asia will sell the watches.
“Our strategy is to cooperate with licensing partners that lead their markets and work successfully with powerful brands,” CEO and Chairman of Hugo Boss AG Bruno Salzer said in the Movado release. “In Movado Group, we feel sure we have found a partner capable of further extending our position in the superior fashion watch segment.”
The Movado Group will handle international distribution of existing BOSS watch collections, as of the deal's March effective date. Product launches as a result of the deal will be limited in 2005, according to the release, but major new product launches from the joint collection are planned for spring 2006, to debut at that year's BaselWorld fair in Switzerland.
“The Hugo Boss watch collection will feature compelling, identifiable designs combined with high quality craftsmanship,” Rick Cote, executive vice president and chief operating officer of Movado Group said in a company release. “The collection will focus on the high end of the fashion watch category.”
The Movado Group, Inc., operates Movado boutiques and company stores in the U.S. and designs, manufactures and distributes Movado, Ebel, Concord, ESQ, Coach and Tommy Hilfiger watches around the world.
Source : National Jeweler Daily News
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