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Fossil Taps Canada For Further Expansion

May 16, 2011

We are excited to announce that Fossil Inc. and Canada's leading fashion mall landlord, Cadillac Fairview have concluded two new transactions.

First, in mid-June, Fossil will open its second location in the province of Quebec, at Carrefour Laval. The store will be 1550 sq.ft., with 25 foot wide storefront. Neighbouring tenants include Marciano, Lucky Brand Jeans, Guess, and Pandora. Carrefour Laval is the top performing mall in the province of Quebec, with sales of approximately $670 psf. The shopping centre has a GLA of approximately 1.2M sq.ft.
 
Then, in early September, Fossil will open a flagship location at Rideau Centre in Ottawa. The opening will mark Fossil's entry into Ottawa (Canada's 4th largest city). The premises are 2000 sq.ft, with 30+ ft frontage, and will be Fossil's largest (full priced) location in Canada. The store is strategically situated on the mall's 2nd level, adjacent Aldo, Benetton, Coach, Lacoste, Banana Republic, Michael Kors...etc Rideau Centre is #5 ranked mall in Canada (#1 in Ottawa) in terms of sales performance, with sales of  approximately $910 psf.

I'd like to thank both Sylvie Plourde and Cindy Van Buskirk of Cadillac Fairview, for all of their help and efforts throughout the negotiations. Like an expert, Sylvie kept us on course at all times (even those difficult ones). As for Cindy, her longstanding support for Fossil is greatly appreciated. 

Fossil is seeking to open additional Canadian locations. Markets of interest include Vancouver, Montreal, Toronto, Halifax and Moncton. Size required is 1200-1500 sq.ft (minimum frontage of 23.5 ft). Fossil will consider super regional shopping centres and street-front locations.

Further to the above, Fossil is also prepared to open an outlet location in Ontario. Minimum size required is 3000 sq.ft.

Fossil is based in Richardson, Texas and currently operate over 360 corporate store locations in 20+ countries.

For more information on Fossil, please visit their website at www.fossil.com.