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Article: New Callanen-Guess license ends dispute with Fossil.(WATCHES)
- Article from:
- Jewelers Circular Keystone
- Article date:
- November 1, 2005
- Author:
CopyrightCOPYRIGHT 2005 Reed Business Information, Inc. (US). This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Callanen International Inc., a wholly owned subsidiary of Timex Corp., has signed a new exclusive 10-year worldwide license agreement with Guess? Inc., ending a public dispute with Fossil Watches and a threatened multimillion-dollar lawsuit.
The new pact, which runs through 2016, authorizes Callanen to continue designing, marketing, and distributing Guess fashion watches, as it has for more than two decades. Its current license ends Dec. 31, 2006.
The new pact starts Jan. 1, 2007, and includes a five-year option to renew.
The agreement calls for Callanen to establish a separate company to manage the distribution and marketing of Guess watches. ...