Timex Group And adidas Announce Global Licensing Agreement
Timex Group, a world leader in watchmaking, and adidas, a global leader in the sporting goods industry, have entered into a global licensing agreement for watches. Timex Group will design, manufacture and distribute watches worldwide under the adidas Originals brand. The first collection will hit the market beginning of 2022. "We could not be more excited to welcome adidas into our portfolio of brands," says Tobias Reiss-Schmidt, President & CEO of Timex Group. "There are few truly iconic brands, and adidas, with its rich history and authentic style, is at the very top of the list. We see a strong and increasing interest in watches among young Millennials and GenZ, and we look forward to introducing our adidas Originals watch collection to this next generation of consumers." The new range launching in Spring 2022 will blend Timex Group's watchmaking and design expertise and adidas Originals' street culture inspiration and attention to sustainability. It will be sold across adidas owned stores, affiliates and e-commerce, and through Timex Group's global distribution network.