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Subsequent Events
12 Months Ended
Dec. 29, 2012
Subsequent Events  
Subsequent Events

20. Subsequent Events

        On December 31, 2012, the Company purchased substantially all of the assets of Bentrani Watches, LLC ("Bentrani"). Bentrani was a distributor of watch products in 16 Latin American countries and was based in Miami, Florida. Bentrani was the Company's largest third-party distributor and had partnered with the Company for ten years. The purchase price was $27.0 million, comprised of $19.7 million in cash and $7.3 million in forgiveness of a payable to the Company.

        Effective January 1, 2013, pursuant to the Framework Agreement, the Company assumed the day-to-day management of Fossil Spain. As a result of this change, the Company believes it now exercises significant control over the joint venture, and in future reporting periods, Fossil Spain will be accounted for under the consolidation method of accounting in accordance with ASC 810, Consolidation, instead of as an equity method investment.

        Due to the limited time since these transaction dates, the initial accounting for these transactions is incomplete at this time.