Fossil inks Burberry deal

Watchmaker ties new agreement with fashion brand through to 2012.
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Having reported a better than expected quarterly profit, watchmaker Fossil has boosted its licensed lines with a deal with fashion brand Burberry.

The new licensing agreement will run through until 2012 and should help the company grow its revenues further.

Strong international sales helped Fossil to grow its sales 18.4 per cent in Europe, with licensed brand watches and jewellery featuring heavily. Other international sales grew nearly 40 per cent.

Revenue was also helped by a same store sales increase of 5.9 per cent, a higher number of company-owned stores in the period, better sales of its namesake and Relic brand of handbags and new products and cold weather accessories.

Q3 sales rose 19.6 per cent to $358.6 million.

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