Leading crystal manufacturer Swarovski has inked a licensing agreement with fashion house Hugo Boss for the creation of a jewellery line. Swarovski’s wholly owned subsidiary Amazar Holding was awarded a six-year licensing agreement with the German fashion house. It will produce and globally distribute a jewellery line for men and women, which will hit Hugo Boss stores, exclusive department stores and select jewellery stores from July 2008. Hugo Boss will be responsible for the designs and the collections will be marketed under the Boss name.

Amazar Holding was founded last year for the express purpose of developing strategically important new business outside the Swarovski brand’s core activities. “Swarovski intends to double turnover to €3 billion by 2012 and was looking for a way to grow the business without diluting the Swarovski brand name,â€? says Bernadette Larcher, director of International PR for Swarovski. “Establishing Amazar Holding will allow the company to exploit new business opportunities through its own projects and licensing agreement. The licensing agreement with Hugo Boss is the first deal for the holding company and we are extremely pleased with such a good match.â€? Other ventures and ideas are still in the evaluation fase. “We are working on a case by case basis. It is early days yet,â€? Larcher concluded.

“Our co-operation with Hugo Boss will be characterized by the highest levels of innovation and quality,â€? said Daniel Cohen, member of Swarovki Crystal Business’s Executive Board and President of the board of Amazar Holding. “With these same standards, Amazar Holding AG will continually develop creative new areas of business and will do it with the necessary speed. In order to develop these international activities with decisiveness, flexibility and consistency, the structure of Amazar Holding AG is well suited to be used as the key driver in their implementation.â€?