Puma has struck a global licensing partnership agreement with the Fossil Group for the design, development and distribution of Puma watches and wearables until 2028. The company has been growing rapidly in the running and training categories in recent years, and its management indicated earlier that it was considering moves into the wearables area. The two partners will work together to develop a range of Puma-branded watches and smart watches, which are scheduled to hit the market next year. They should be available through department stores, specialty retailers and online stores. Puma previously had a partnership for watches with Mywa Swiss Watch and Jewelry, which ended in December 2016. Fossil is the company that acquired Misfit in 2015 for $260 million, complementing a portfolio of owned and licensed brands through which it markets watches and other accessories. They include Diesel, Karl Lagerfeld, Michael Kors, Tory Burch and several more.

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