January 10 Fossil watch company 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 of the current owners of the company Skagen, at the level of sales exceeds a certain threshold, will receive up to 100 000 additional shares of Fossil – profitable exchange.
Thus, Skagen is not just purchased, and began a mutually beneficial partnership with a larger company.Finally, watch company Skagen become the property of Fossil in February 2012.
That today constitute the two companies? Skagen is an international company that has several branches in different countries and offers not only a watch, but also jewelry, sunglasses, etc. The headquarters is located in Nevada, Skagen, and international offices in Germany, UK, Hong Kong, Denmark and Canada. Watches and other products in Skagen today you can buy in 75 countries around the world.
The American watch company Fossil began operations in 1984, when the focus was not on design and functionality. However, Fossil watches are not only functional but also fashionable. “Absorption” of other companies – the usual strategy for Fossil. However, all included in its membership companies continue to maintain individuality and relative independence.
Important elements in the development was the acquisition of Fossil watch and jewelry companies Diesel, DKNY, Philippe Starck, Emporio Armani, The Walt Disney. On account of the nominal output Fossil products for the well-known retailers and fashion houses. By 2001, Fossil completed the “absorption” of the three Swiss companies, who brought her a new opportunity for the creation and sale of watches.
Fossil owns worldwide rights Zodiac brand and license Burberry.
Accession to the mutual benefit of Skagen watch for such a strong team player – certainly a significant and positive development in its history.