Valentino S.p.A. and Timex Group have signed a licence agreement for the creation, production and distribution of a premier luxury watch collection worldwide.
Projected annual retail turnover exceed 60 million euros, and will be supported by significant investments in communication.
A strong stylistic contribution from the Valentino house combined with joint development initiatives in all luxury markets are at the basis of the project through which Valentino and Timex intend to build a lasting leadership role in the watch market worldwide.
The new line will deliver the precious uniqueness and the unmistakeable style of the Valentino brand, with a clear high-end positioning in the luxury watch segment.
Stefano Sassi, Valentino CEO, has commented: 'The expertise and the strong results achieved by Timex Group in high quality watch making will enable Valentino to reach a leadership position in a growing segment of the luxury market.
The strong attention to style and quality of the product, together with an innovative plan developed with the partner, reassert the ambitions of growth of our brand'.
Joe Santana, Timex Group President and CEO, has remarked: 'Valentino is a legendary brand that continues to experience exceptional growth in the marketplace. We are delighted Valentino watches are now part of Timex Group's portfolio. The brand will enhance our offerings in the highest echelons of timepieces'.
Valentino Fashion Group S.p.A.
marketing@alchempro.com
