Fossil has acquired Skagen Designs

In January 10 the watch company Fossil has made an official statement about the acquisition of Skagen, which is also engaged in production of timepieces and jewelry. The amount of this transaction is 225 million dollars (the money was bought 150 000 shares).

Under the terms of the acquisition the current owners of the company Skagen, at the exceeding a certain threshold of the sales level, will receive up to 100 000 additional shares of Fossil – a profitable exchange. Thus, Skagen is not just purchased, but begins a mutually beneficial partnership with a larger company. Finally, the watch company Skagen will become the property of Fossil in February of 2012.

What nowadays are the two companies? Skagen is an international company that has several branches in different countries and offers not only watches, but also jewelry, sunglasses, etc. The headquarters of Skagen is located in Nevada, and international offices in Germany, UK, Hong Kong, Denmark and Canada. Today watches and other products of Skagen one can buy in 75 countries around the world.

The American watch company Fossil began operations in 1984, when the focus was not on design but on functionality. However, Fossil watches are not only functional but also fashionable. "Absorption" of other companies is the usual strategy for Fossil. However, all included in its membership companies continue to maintain individuality and relative independence.

Important elements in the development of Fossil were the acquisition of watch and jewelry companies Diesel, DKNY, Philippe Starck, Emporio Armani, and The Walt Disney. On account of Fossil are the nominal output products for the well-known retailers and fashion houses. By 2001, Fossil completed the "absorption" of the three Swiss companies, which brought it a new opportunity for the creation and sale of watches. Fossil owns worldwide rights of Zodiac brand and license of Burberry. Accession on the mutual benefit of the watch company Skagen to such a strong team player - certainly a significant and positive development in its history.