Michael Kors Signs Jewelry License With Fossil

NEW YORK, March 16, 2011 (GLOBE NEWSWIRE) -- Fossil, Inc. (Nasdaq:FOSL) ("Fossil") and Michael Kors, Inc. are pleased to further their existing relationship to debut the Michael Kors Fall 2011 jewelry collection, offering women's earrings, necklaces, bracelets and rings.

Michael Kors first partnered with Fossil in Fall 2004 to launch the highly coveted Michael Kors watch line. With the support of Fossil's established global watch business, the jewelry collection will draw upon the iconic details that represent the Michael Kors jet set lifestyle. Through the use of chain detail, mixed materials and iconic hardware, the collection will carry out Michael Kors' vision to deliver to the modern woman "the perfect jewelry box." The pieces will offer clients a new product category but will also maintain the metal finishes and leather detailing that coincide with the brand's current accessories lines.

Michael Kors has long seen accessories as the accents that distinguish a woman's style, and he is excited to offer a new way for women to complete their wardrobes. "I've always thought of accessories as the exclamation point of a woman's outfit. Now, with my jewelry collection, I can deliver the full spectrum of the Michael Kors vision for a truly fabulous look," Michael Kors noted.

"We believe there is a strong demand for luxury fashion jewelry. This category represents a natural extension of the Michael Kors brand as an essential component in completing the jet-set lifestyle. We are thrilled to be continuing our partnership with Fossil. Given our successes with our watch business, we see the jewelry category having great global potential for our business," stated John D. Idol, Chief Executive Officer.

Kosta Kartsotis, Chief Executive Officer of Fossil commented, "We are very pleased to expand our partnership with Michael Kors by adding the jewelry collection to our rapidly growing Michael Kors watch business." 

Price points for pieces within the collection will range from $100 to $500. The jewelry will be available in select Michael Kors retail stores worldwide and sold through limited domestic and European wholesale partners beginning in Fall 2011.

Michael Kors is recognized as one of America's pre-eminent designers for luxury sportswear. His namesake company, established in 1981, currently produces a range of products through his Michael Kors Collection, KORS Michael Kors, and MICHAEL Michael Kors labels, including men's and women's ready to wear, accessories, and a full line of fragrance and beauty products for both men and women. Michael Kors Collection Flagship stores are located in New York NY, Beverly Hills CA, Manhasset NY, Chicago IL, Palm Beach FL, Milan, IT, Paris, FR and London, UK. 

Fossil Inc. is known for its Fossil branded business and for its multi-brand watch and jewelry business. The Fossil brand consists of watches and accessories as well as clothing and is distributed globally through retail partners and through its 364 Fossil stores. The multi-brand watch and jewelry business consists of a portfolio of owned and licensed brands including Michael Kors.

The Fossil, Inc. logo is available at http://www.globenewswire.com/newsroom/prs/?pkgid=3296
CONTACT: Mike Kovar         Chief Financial Officer         Fossil, Inc.         (972) 699-6811                  Mary Fontamillas         Vice President, Public Relations         MICHAEL KORS         (212) 201-8191

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