In December of 2018, the news broke that the Swiss luxury watch brand Zodiac had been acquired by Fossil Group. While the exact terms of the deal were not disclosed, it was announced that Fossil had purchased the intellectual property rights and trademarks of Zodiac.
Zodiac has a long history in the watch industry, dating back to 1882 when it was founded in Switzerland. The brand gained popularity in the 1950s and 1960s for its high-quality dive watches, which were favored by professional divers and military personnel. In recent years, Zodiac has focused on producing retro-inspired timepieces, including the popular Super Sea Wolf and Sea Dragon models.
So, who is Fossil Group and why did they buy Zodiac? Fossil Group is a Texas-based company that designs, manufactures, and distributes fashion accessories, including watches, jewelry, and leather goods. The company owns several well-known watch brands, including Fossil, Skagen, and Michele. Fossil Group also produces licensed watches for other fashion brands, such as Michael Kors, Armani Exchange, and Kate Spade.
It seems that Fossil Group saw an opportunity to expand its portfolio of watch brands by acquiring Zodiac. In a press release announcing the acquisition, Kosta Kartsotis, CEO of Fossil Group, stated, “We are excited to acquire the Zodiac brand and its rich heritage, which will enable us to expand our portfolio of Swiss-made watches. Zodiac’s unique product design, craftsmanship, and heritage make it a perfect complement to our existing brands.”
It’s worth noting that Fossil Group has been facing some challenges in recent years due to the rise of smartwatches and the decline of traditional watches. By acquiring Zodiac, Fossil Group may be hoping to tap into the growing market for vintage-inspired and luxury watches, which has been less affected by the smartwatch trend.
So, what can we expect from Zodiac under Fossil Group’s ownership? It’s still early days, but Fossil Group has said that it plans to “re-establish Zodiac as a Swiss-made watch brand with a distinct point of view.” This suggests that the brand may be given more autonomy to develop its own unique designs and identity.
Overall, the acquisition of Zodiac by Fossil Group is an interesting development in the watch industry. It will be fascinating to see how Fossil Group integrates the brand into its existing portfolio and how Zodiac evolves under its new ownership.
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FAQs for Who Bought Zodiac?
1. Who is the new owner of Zodiac?
The article mentions that the new owner of Zodiac is a private investment firm called Rhône Group.
2. What is Rhône Group’s background in investing?
Rhône Group is a global private equity firm that specializes in mergers and acquisitions, as well as strategic partnerships. They have a diverse portfolio of investments in various industries, including consumer products, healthcare, and technology.
3. What does this acquisition mean for Zodiac’s future?
It is unclear at this time what changes, if any, Rhône Group plans to make to Zodiac’s operations. However, the article notes that the acquisition could potentially lead to new growth opportunities for the company.
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