Fossil and Paul Frank Sign License Agreement for Paul Frank Watches
Richardson, Texas-based Fossil Inc. and Paul Frank Industries announced they have signed a worldwide license agreement granting Fossil the exclusive rights to manufacture, market and distribute Paul Frank brand watches.
Paul Frank’s watch collection is projected to hit $10 million over the next six years, said Randy Kercho, executive vice president of Fossil.
Paul Frank, which originally launched its watches for Spring 2001, as “simply an extension of our accessories program,” according to president and co-founder Ryan Heuser, found it was a strong market with steady orders.
“The sales were very solid, especially for a new-division launch with very limited financial and technical resources. Once it hit the selling floors we knew we had something bigger than we were capable of handling in-house,” said Heuser.
The Paul Frank watch collection will feature 10 styles from the company’s signature characters, including Julius the monkey, Clancy the giraffe and Ellie the elephant. Retail prices will begin at $75. The watches will be sold through Paul Frank’s sales group and will be available at specialty and department stores at the end of this year, Kercho said.
“Partnering up with an industry leader like Fossil has allowed [co-owner and head designer] Paul Frank to really experiment with custom molds and new technologies,” Heuser said. “He is really pushing the envelope in the watch world as we have done in the accessories category.”
Paul Frank Industries, which is based in Costa Mesa, Calif., is the designer of functional art in the form of cartoon characters. In addition to T-shirts and bags, the company designs clothing, accessories and home furnishings.
Paul Frank merchandise is sold in Australia, Canada, Japan, Taiwan and Europe. —Claudia Figueroa
