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| Company type | Subsidiary ofFossil Inc.,(NASDAQ: FOSL) |
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| Founded | 1989 |
| Headquarters | Richardson, Texas (HQ),Hong Kong (Asia Pacific HQ), andAlbertslund, Denmark (Europe HQ)[citation needed] |
Key people | |
| Products | Wristwatches, handbags,[citation needed] jewelry, and other personal durable goods |
| Website | skagen.com |
Skagen Denmark is an American brand, initially ofwatches, of Skagen Designs Ltd. (a subsidiary ofFossil), that has grown into being a widerAmerican contemporary accessories brand based on Danish design. As of spring 2015, its product lines include watches,handbags,jewelry, and other durable personal goods, the majority of which aimed at the mid-range. Named forSkagen, aJutland peninsula andDenmark's northernmost town, Skagen Designs Ltd. was purchased in 2012 byFossil, for stock and cash in transaction totaling approximatelyUS$237 million, and it continues to operate as awholly owned subsidiary under its parent, continuing the traditional brand name Skagen Denmark. Starting in New York, then inLake Tahoe andReno, Nevada, Skagen Designs Ltd. operations are overseen fromRichardson, Texas, nearDallas, in the United States.
As of its acquisition byFossil Inc. on April 2, 2012, Skagen Designs, Ltd. operates as a wholly owned subsidiary ofFossil, listing, as of May 1, 2015, Charlotte Jorst as co-founder and president, Henrik Jorst as co-founder, and Steen Albrechtslund as group managing director.[1][2]
The company began in the home of its co-founders in New York, moving first toLake Tahoe, thenReno, Nevada.[1][3] Its current operations underFossil are overseen fromRichardson, Texas, nearDallas, in the United States.[citation needed] As of May 2015, the company is reported to have additional U.S. offices, as well as ones in Denmark and Hong Kong, andconcept stores in Japan (Tokyo, Osaka, and Nagoya) and Taiwan (Taipei).[1]
The title brand representsFossil's subsidiary, Skagen Designs Ltd., which has as its stated corporate aim to "bring Danish-inspired ideals to the world through design imbued with purpose, honesty and simplicity."[This quote needs a citation] The company designs, manufactures and sellswatches,handbags,[citation needed]jewelry and sunglasses for both men and women. Products are sold in shops and online.[1] The company sells its products in theUK, theE.U., and the Middle East,[3] and inIndia,Japan,Taiwan,Australia,Malaysia,Singapore and the US.[1]
Founded in 1989,[1] the company was the brainchild of Henrik and Charlotte Jorst, who had moved from Denmark to the US in 1986 when Henrik was appointed U.S. sales manager for Danish breweryCarlsberg.[3] The couple decided to establish their own business as U.S. representative for a Danish manufacturer of corporate branded business gift watches, and for exclusiveJacob Jensen designer watches.[3]
After locating the Danish-owned clock and watch manufacturer, Comtech Watches, a supplier that could manufacture watches at a lower price through its Hong Kong factory, the Jorsts began designing their own watches, which they showed at a corporate gift fair in New York 1991.[citation needed] At that fair, they were encouraged by several retailers to market the watches under their own brand, which they chose as Skagen Denmark,[3]Skagen (Danish pronunciation:[ˈskɛˀjn̩]) for theDanish fishing village (and peninsula) of that name. The company logo symbolizes the meeting of theSkagerrak and theKattegat bodies of sea water atSkagen,[citation needed]Denmark's northernmost settlement and port, inJutland.
| This sectionrelies largely or entirely on asingle source. Relevant discussion may be found on thetalk page. Please helpimprove this article byintroducing citations to additional sources. Find sources: "Skagen Denmark" – news ·newspapers ·books ·scholar ·JSTOR(May 2015) |
The following information, unless otherwise noted, is drawn from a case study description of Skagen Denmark, by Svend Hollensen, inEssentials of Global Marketing:[3]
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