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RICHARDSON, Texas, Feb. 12, 2013 (GLOBE NEWSWIRE) -- Fossil, Inc. (Nasdaq:FOSL) announced today that it has entered into a global licensing agreement with the Tory Burch Company. Fossil and Tory Burch will collaborate on the design, development and distribution of timepieces for the Tory Burch brand. This partnership will combine Fossil's innovative approach to timepiece design and its distribution expertise with the elegance, classic design and lifestyle that Tory Burch embodies.
Tory Burch, CEO of the Tory Burch Company, says, "I am thrilled to partner with Fossil, a leader in the watch industry that is aligned with our vision and business strategy. Expanding into timepieces will perfectly complement our accessories collection, an integral part of our brand DNA."
Kosta Kartsotis, Fossil CEO, added, "We are very pleased to be partnering with Tory Burch to create a distinctive watch business for this exceptional brand. This will enable us to leverage our strengths in design and worldwide distribution and enhance our position as the leader in the global watch market."
The Tory Burch timepiece collection's global launch is scheduled for late 2014.
Certain statements contained herein that are not historical facts constitute "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995 and involve a number of risks and uncertainties. The actual results of the future events described in such forward-looking statements could differ materially from those stated in such forward-looking statements. Among the factors that could cause actual results to differ materially are: changes in economic trends and financial performance, changes in consumer demands, tastes and fashion trends, lower levels of consumer spending resulting from a general economic downturn, shifts in market demand resulting in inventory risks, changes in foreign currency exchange rates, and the outcome of current and possible future litigation, as well as the risks and uncertainties set forth in the Company's Annual Report on Form 10-K for the fiscal year ended December 31, 2011 and its Quarterly Reports on Form 10‑Q filed with the Securities and Exchange Commission (the "SEC").