Timex Group and Adidas strike global licensing deal
As part of the agreement, Timex Group will design, manufacture and distribute watches worldwide under the Adidas Originals brand with a first collection set to hit the market come spring 2022.
The new range will blend Timex Group's watchmaking and design expertise and Adidas Originals' street culture inspiration, while keeping in mind the brand’s commitment to sustainability.
"We could not be more excited to welcome adidas into our portfolio of brands," said Tobias Reiss-Schmidt, president and CEO of Timex Group.
"There are few truly iconic brands, and Adidas, with its rich history and authentic style, is at the very top of the list. We see a strong and increasing interest in watches among young millennials and GenZ, and we look forward to introducing our Adidas Originals watch collection to this next generation of consumers."
The collection will be available across Adidas owned stores, affiliates and e-commerce, and through Timex Group's global distribution network.
Timex operates a dedicated luxury division in Switzerland, which produces watches for labels such as Salvatore Ferragamo, Furla and Versace. At the end of 2020, a 65 percent stake in the group was acquired by an affiliate of Boston-based investment firm, The Baupost Group LLC.
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