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Fossil Acquires Skagen Designs

January 18, 2012

We are pleased to announce that Fossil, Inc. has agreed to purchase Skagen Designs, Ltd. for approximately $236.8 million.

Skagen Designs is an international company that offers contemporary, Danish designed accessories including watches, sunglasses and clocks. The company’s corporate headquarters are located in Reno, Nevada; as well, they operate regional offices in Denmark, Hong Kong, Germany, the U.K. and Canada. Skagen products are sold in 75 markets globally with company-owned retail stores in Denmark, Germany, U.K. and Hong Kong. The first Skagen flagship store in The United States recently opened at Garden State Plaza Mall in Paramus, New Jersey.

Charlotte Jurst, co-founder of Skagen commented “We have long admired Fossil and believe they will bring great passion and vision to our brand”. “The opportunities for Skagen under the Fossil umbrella are endless and we look forward to building this wonderful brand”, added Henrik Jorst, co-founder of Skagen.

Fossil’s CEO, Kosta Kartsotis, said “It is a great privilege to join together with our Skagen colleagues to share their Danish history with the world. Skagen is unique and has enormous potential as a lifestyle brand. We see many similarities in the history and values of our two companies and look forward to creating something greater together.

With so much excitement already happening within Fossil, we are delighted to be able to report on yet another exciting transaction. The opportunity for Skagen to further develop as a lifestyle brand in parallel to Fossil is tremendous, and mutually beneficial to each respective company. Stay tuned to future blog posts for updates on how this new exciting relationship develops…

Fossil products are sold in 123 countries. The company operates 360 company owned stores. For more information, please visit Fossil's website at www.fossil.com.