Fossil, Inc. Acquires Latin America Distribution Business From Bentrani
RICHARDSON, Texas, Jan. 10, 2013 (GLOBE NEWSWIRE) -- Fossil, Inc.
(Nasdaq:FOSL) (the "Company") announced today that it has acquired the
distribution business for Latin America from its largest third-party
distributor, Bentrani Watches, LLC ("Bentrani"). Bentrani, based in Miami,
Florida, has been a distributor for the Company for ten years and distributes
certain of the Company's proprietary and licensed brand products in sixteen
Latin American countries, including Chile, Argentina, Panama, Colombia,
Venezuela and Uruguay.
The Company's Chief Executive Officer, Kosta Kartsotis, commented, "We have
had a remarkable partnership with the Bentrani team. Latin America is one of
the Company's fastest growing regions in the world and we feel honored
Bentrani is joining the Fossil team to guide that growth."
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").
Fossil is a global design, marketing and distribution company that specializes
in consumer fashion accessories. The Company's principal offerings include an
extensive line of men's and women's fashion watches and jewelry sold under
proprietary and licensed brands, handbags, small leather goods, belts,
sunglasses, soft accessories, shoes and clothing. In the watch and jewelry
product categories, the Company's offerings include a diverse portfolio of
globally recognized proprietary and licensed brand names under which its
products are marketed. The Company's extensive range of accessory products,
brands, distribution channels and price points allows it to target
style-conscious consumers across a wide age spectrum on a global basis. The
Company's products are sold to department stores, specialty retail stores and
specialty watch and jewelry stores in the U.S. and in approximately 120
countries worldwide through 23 Company-owned foreign sales subsidiaries and a
network of over 60 independent distributors. The Company also distributes its
products in over 400 Company-owned and operated retail stores and through
international e-commerce websites and the Company's U.S. e-commerce website at
www.fossil.com, where certain product, press release and SEC filing
information concerning the Company are also available.
The Fossil, Inc. logo is available
CONTACT: Dennis Secor
Chief Financial Officer
Investor Relations: Allison Malkin
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