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((Short description|Brand, initially of watches, of Skagen Designs Ltd. (a subsidiary of Fossil)))
((For|the town in Denmark|Skagen))
((more citations needed|date=May 2015))
((Infobox company
|  name   = Skagen Denmark
|  logo   = Skagen logo.svg
|  type   =  Subsidiary of [[Fossil Inc.]], ''(NASDAQ: FOSL)''
|  foundation     = 1989
|  location       = [[Richardson, Texas]] (HQ), [[Hong Kong]] (Asia Pacific HQ), <br>and [[Albertslund|Albertslund, Denmark]] (Europe HQ)((citation needed|date=May 2015))
|  key_people     = ((plainlist |
* Charlotte Jorst (<small>Co-founder, President</small>)<ref name=BloombergCO15/>
* Henrik Jorst (<small>Co-Founder</small>)<ref name=BloombergCO15/>
* Steen Albrechtslund (<small>Group Managing Director</small>)<ref name=BloombergCO15/>
))
|  products       = Wristwatches, handbags,((citation needed|date=May 2015)) jewelry, and other personal durable goods
|  homepage       = [http://www.skagen.com skagen.com]
))
[[File:Skagen Herrenuhr Damenuhr 2009 IMG 1359.JPG|thumb|Wristwatches from Skagen Denmark]]
[[File:Skagen Falster 3.jpg|thumb|[[Smartwatch]] Skagen Falster 3]]
'''Skagen Denmark''' is an American brand, initially of [[watch]]es, of Skagen Designs Ltd. (a subsidiary of [[Fossil Inc.|Fossil]]), that has grown into being a wider [[United States|American]] contemporary accessories brand based on Danish design. As of spring 2015, its product lines include watches, [[handbag]]s, [[jewelry]], and other durable personal goods, the majority of which aimed at the mid-range. Named for [[Skagen]], a [[Jutland]] peninsula and [[Denmark]]'s northernmost town, Skagen Designs Ltd. was purchased in 2012 by [[Fossil Inc.|Fossil]], for stock and cash in transaction totaling approximately ((US$|237 million)), and it continues to operate as a [[wholly owned subsidiary]] under its parent, continuing the traditional brand name Skagen Denmark. Starting in New York, then in [[Lake Tahoe, Nevada|Lake Tahoe]] and [[Reno, Nevada]], Skagen Designs Ltd. operations are overseen from [[Richardson, Texas]], near [[Dallas, Texas|Dallas]], in the United States.

==Company structure and locations==
As of its acquisition by [[Fossil Inc.]] on April 2, 2012, Skagen Designs, Ltd. operates as a wholly owned subsidiary of [[Fossil Inc.|Fossil]], 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.<ref name=BloombergCO15>Bloomberg, 2015, "Company Overview, Textiles, Apparel and Luxury Good: Skagen Designs, Ltd.," ''BloombergBusiness'' (online), May 1, 2015, see [https://www.bloomberg.com/research/stocks/private/snapshot.asp?privcapId=4578830], accessed 1 May 2015.</ref><ref>Anon., 2015, "Wholly Owned Subsidiary," ''Investopedia'' (online), see [http://www.investopedia.com/terms/w/whollyownedsubsidiary.asp], accessed 1 May 2015.</ref>

The company began in the home of its co-founders in New York, moving first to [[Lake Tahoe, Nevada|Lake Tahoe]], then [[Reno, Nevada]].<ref name=BloombergCO15/><ref name=Hollensen08>Svend Hollensen, 2008, "Case Study II.2, Skagen Designs: Becoming an International Player in Designed Watches," in ''Essentials of Global Marketing,'' Upper Saddle River, NJ:Pearson/Prentice Hall, pp. 192-195, ((ISBN|0273717847)), see [https://www.amazon.com/Essentials-Global-Marketing-Svend-Hollensen/dp/0273717847] and [http://wps.pearsoned.co.uk/wps/media/objects/9646/9878474/Extra%20casestudy%20deel%20II.pdf], accessed 1 May 2015.</ref> Its current operations under [[Fossil Inc.|Fossil]] are overseen from [[Richardson, Texas]], near [[Dallas, Texas|Dallas]], in the United States.((citation needed|date=May 2015)) As of May 2015, the company is reported to have additional U.S. offices, as well as ones in Denmark and Hong Kong, and [[Boutique#Boutique lifestyle|concept stores]] in Japan (Tokyo, Osaka, and Nagoya) and Taiwan (Taipei).<ref name=BloombergCO15/>

==Aim and products==
The title brand represents [[Fossil Inc.|Fossil]]'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."((cite quote|date=April 2014)) The company designs, manufactures and sells [[watch]]es, [[handbag]]s,((citation needed|date=May 2015)) [[jewelry]] and sunglasses for both men and women. Products are sold in shops and online.<ref name=BloombergCO15/> The company sells its products in the [[UK]], the [[E.U.]], and the Middle East,<ref name=Hollensen08/> and in [[India]], [[Japan]], [[Taiwan]], [[Australia]], [[Malaysia]], [[Singapore]] and the US.<ref name=BloombergCO15/>

==Company history==
===Founding===
Founded in 1989,<ref name=BloombergCO15/> 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 brewery [[Carlsberg Group|Carlsberg]].<ref name=Hollensen08/> The couple decided to establish their own business as U.S. representative for a Danish manufacturer of corporate branded business gift watches, and for exclusive [[Jacob Jensen]] designer watches.<ref name=Hollensen08/>

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|date=May 2015)) At that fair, they were encouraged by several retailers to market the watches under their own brand, which they chose as Skagen Denmark,<ref name=Hollensen08/> [[Skagen]] (((IPA-da|ˈskɛˀjn̩))) for the [[Denmark|Danish]] fishing village (and peninsula) of that name. The company logo symbolizes the meeting of the [[Skagerrak]] and the [[Kattegat]] bodies of sea water at [[Skagen]],((citation needed|date=May 2015)) [[Denmark]]'s northernmost settlement and port, in [[Jutland]].

===Development===
((one source|section|date=May 2015))
<!--NOTE; COMPANY PRESS RELEASES ARE NOT ACCEPTABLE SOURCES HERE. PLEASE, WHEN ADDING ADDITIONAL TIMELINE INFORMATION, MAKE SURE TO ADD AN ACCEPTABLE BUSINESS NEWS SOURCE EACH TIME; GIVEN CURRENT TEXT STRUCTURE (WITH CARTE BLANCHE OPENING REFERENCE), UNSOURCED MATERIAL WILL BECOME HARDER TO CORRECT POST HOC. -->
The following information, unless otherwise noted, is drawn from a case study description of Skagen Denmark, by Svend Hollensen, in ''Essentials of Global Marketing'':<ref name=Hollensen08/>
* 1992 — Jorsts sell watches for first time under their own brand name achieving annual sales<ref name=turnover>Annual sales volume net of all discounts and sales taxes, i.e., "turnover," see [https://www.businessdictionary.com/definition/turnover.html#ixzz3YtiKxtEXr], accessed 1 May 2015.</ref> of [[USD|US $]]800,000.
* 1993 — Jorsts moves from New York to Nevada for tax and personal reasons, still running company without employees.
* 1995 — New York [[department store]] [[Bloomingdale's]] agrees to trial period, selling their watches.
* 1998 — Company lists as one of the 250 fastest-growing privately owned U.S. companies, opens European distribution office in [[Denmark]], 80 stores in that country begin selling their watches, annual sales<ref name=turnover/> approaches ((US$|30 million)).
* 1999 — Employees approaches 100, distribution begins in the [[United Kingdom]]. 
* 2000 — Distribution begins in [[Germany]] and the [[Netherlands]].
* 2002 — Company expands into more European countries and the Middle East, in effort extending into the following year.
* 2005 — Annual sales<ref name=turnover/> increases to ((US$|70 million)).
* 2007 — Company moves into the Asian markets, establishing an office in Hong Kong.((citation needed|date=January 2017))
* 2010 — Company opens online retail portals serving the U.S. and Europe.((citation needed|date=May 2015))
* 2011 — Asia-Pacific division launches online retail portals for [[Australia]], [[Hong Kong]], and [[Singapore]] markets.
* 2012 — [[Fossil, Inc.]] agrees to purchase Skagen Designs, Ltd. and some of its partners for 150,000 shares of Fossil common stock and ((US$|25 million)).<ref>Zacks Equity Research, 2012, "Fossil to Acquire Skagen," Yahoo! Finance (online), January 11, 2012, see [https://finance.yahoo.com/news/Fossil-Acquire-Skagen-zacks-3321611187.html], accessed 1 May 2015.</ref>

==Further reading==
* Zacks Equity Research, 2012, "Fossil to Acquire Skagen," Yahoo! Finance (online), January 11, 2012, see [https://finance.yahoo.com/news/Fossil-Acquire-Skagen-zacks-3321611187.html], accessed 1 May 2015. Business description and summary from 2012 not yet fully extracted.

==References==
((Reflist))

==External links==
((Commons category|Skagen Designs))
* [http://www.skagen.com/ Skagen Denmark webpage for its Richardson, Texas headquarters and webstore.]
* [http://issuu.com/skagendenmark/docs/skagen_designs_the_company Skagen Designs, Ltd. company brochure, 2011.]
* [https://web.archive.org/web/20120427172214/http://www.skagendesignsmedia.com/pressreleases/skagen-designs-promotes-steen-albrechtslund-to-group-managin.html March 2009 company press release on Albrechtslund appointment, Asia market expansion.]
* [https://web.archive.org/web/20120320035328/http://www.skagendesignsmedia.com/pressreleases/masters-of-design-modern-minimalism-meets-sleek-sophisticati.html February 2010 company press release on opening of U.S. and European online retail stores.]

((Authority control))

[[Category:Watch manufacturing companies of the United States]]
[[Category:American brands]]
[[Category:Danish design]]
[[Category:Companies based in Dallas]]
[[Category:Manufacturing companies of Denmark]]
[[Category:Fossil Group]]

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