Kate Spade & Company has tapped the Fossil Group to design, develop and distribute Kate Spade New York watches in a long-term licensing deal with will last until 2025.

"We are excited to partner with Kate Spade New York, a unique brand experiencing explosive growth that has substantial long-term potential," says Kosta Kartsotis, chief executive officer, Fossil Group. "The brand has a distinctive voice, fits perfectly within our portfolio, and we look forward to a meaningful relationship for years to come."

Under the new partnership, the Fossil Group will also assume the existing watch business of the Kate Spade New York brand and will begin distributing the line through its global network.   

Fossil Group will launch the first collection it designs in 2016 in Kate Spade New York stores as well as key retailers globally.

"It is clear that Fossil Group shares our passion for creative design and quality craftsmanship, and we are confident they are the right partner as we expand this important elastic category," says Craig A. Leavitt, chief executive officer, Kate Spade & Company. "Our agreement supports Kate Spade & Company's long-term growth strategy of pursuing a partnered approach to product category expansion to drive licensing revenue and expand margins."