Fossil Inc. officially acquired Skagen at a global level on April 2 but “activation” of the Australian and New Zealand acquisition did not come into effect until September 1 when the company assumed full support of all the existing Skagen accounts in the two countries.
Fossil Australia managing director Ives Palmer said the acquisition was “a significant event” for the Fossil team in Australia and New Zealand.
“We are excited to help nurture this distinctive brand in our market,” he said.
“With our dedicated teams and extensive experience with managing globally renowned brands, we are confident in the growth ahead for Skagen.”
Palmer said Fossil Australia’s expertise would “deliver an established and immediate method to providing the support required to convey Skagen’s distinctive heritage and values in the market”.
“Nurturing successful brands in the industry is familiar territory for Fossil Australia and the company is actively committed to their brands, core standards, and community and dedicated to improving the customer experience and client satisfaction via a new merchant focus,” he said.
“Our focus and philosophy at Fossil is to ensure that each brand has a story at point-of-sale – we achieve this with great product, focused distribution, clear assortments and consistent presentation.
“So in the next 12-18 months we are not actively looking to grow the distribution of Skagen in the market but rather use our local experience and global knowledge to help each customer reach their full potential.”
Fossil will launch a rewards program for Skagen stockists in the fourth quarter of this year.
Called Kroner, the “hugely popular campaign” that Skagen has previously run, will enable staff to collect stickers when they sell Skagen products and redeem them for Skagen products.
Skagen Designs’ accessories (including watches, jewellery, sunglasses and clocks) are sold in 75 global markets as well as in company-owned and operated retail stores in Denmark, Germany, the UK and Hong Kong.