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Revenue
 12 Months Ended
Jan. 02, 2021
Revenue from Contract with Customer [Abstract]  
Revenue REVENUE
The Company’s revenue consists of sales of finished products to customers through wholesale and retail channels. Revenue from the sale of products, including those that are subject to inventory consignment agreements, is recognized when control of the product is transferred to the customer and in an amount that reflects the consideration the Company expects to be entitled in exchange for the product. The Company generally considers control to transfer either when products ship or when products are delivered depending on the shipping terms in the agreement or purchase order. The Company considers control to have transferred upon shipment or delivery because the Company has a present right to payment, the customer has legal title to the product, the Company has transferred physical possession of the product, and the customer has the significant risks and rewards of the product. Taxes imposed by governmental authorities on the Company's revenue-producing activities with customers, such as sales taxes and value added taxes, are excluded from net sales.
Markdowns. The Company provides markdowns to certain customers in order to facilitate sales of select styles. Markdowns are estimated at the time of sale using historical data and are recorded as a reduction to revenue. The Company's policy is to record its markdown allowance as a reduction of accounts receivable.
Returns. The Company accepts limited returns from customers. The Company continually monitors returns and maintains a provision for estimated returns based upon historical experience, any specific issues identified and current information. Product returns are accounted for as reductions to revenue, cost of sales and customer liabilities and an increase to other current assets to the extent the returned product is resalable. While returns have historically been within management's expectations and the provisions established, future return rates may differ from those experienced in the past. In the event that the Company's products are performing poorly in the retail market and/or it experiences product damages or defects at a rate significantly higher than the historical rate, the resulting returns could have an adverse impact on the operating results for the period or periods in which such returns occur.
Cooperative Advertising. The Company participates in cooperative advertising programs with its major retail customers, whereby the Company shares the cost of certain of their advertising and promotional expenses. Certain advertising expenses which are not considered separate performance obligations are recorded as sales discounts. All other cooperative advertising expenses are recorded in SG&A.
Multiple Performance Obligations. The Company enters into contracts with customers for its wearable technology that include multiple performance obligations. Each distinct performance obligation was determined by whether the customer could benefit from the good or service on its own or together with readily available resources. The Company allocates revenue to each performance obligation based on its relative standalone selling price. The Company's process for determining standalone selling price considers multiple factors including the Company's internal pricing model and market trends that may vary depending upon the facts and circumstances related to each performance obligation. Revenue allocated to the hardware and software essential to the functionality of the product represents the majority of the arrangement consideration and is recognized at the time of product delivery, provided the other conditions for revenue recognition have been met. Revenue allocated to free software services provided through the Company's online dashboard and mobile apps as well as revenue allocated to the right to receive future unspecified software updates is deferred and recognized on a straight-line basis over the product's estimated usage period of two years.
Licensing Income. The Company entered into agreements with certain customers to provide smartwatch technology, design and support. The Company also has an agreement to procure smartwatches for a customer.
Disaggregation of Revenue. The Company's revenue disaggregated by major product category and timing of revenue recognition was as follows (in thousands):
Fiscal Year 2020
AmericasEuropeAsiaCorporate Total
Product Type
Watches $507,278 $404,520 $388,004 $44 $1,299,846 
Leathers104,621 36,570 32,430 — 173,621 
Jewelry23,959 71,209 7,749 — 102,917 
Other 6,355 10,065 6,168 14,371 36,959 
Consolidated $642,213 $522,364 $434,351 $14,415 $1,613,343 
Timing of Revenue Recognition
Revenue recognized at a point in time $639,948 $520,878 $433,648 $5,451 $1,599,925 
Revenue recognized over time 2,265 1,486 703 8,964 13,418 
Consolidated$642,213 $522,364 $434,351 $14,415 $1,613,343 
Fiscal Year 2019
AmericasEuropeAsiaCorporate Total
Product Type
Watches $769,581 $557,460 $475,361 $79 $1,802,481 
Leathers145,632 47,308 45,679 — 238,619 
Jewelry24,826 92,935 5,416 — 123,177 
Other 9,926 17,791 8,700 17,018 53,435 
Consolidated $949,965 $715,494 $535,156 $17,097 $2,217,712 
Timing of Revenue Recognition
Revenue recognized at a point in time $947,353 $714,056 $534,403 $6,145 $2,201,957 
Revenue recognized over time 2,612 1,438 753 10,952 15,755 
Consolidated$949,965 $715,494 $535,156 $17,097 $2,217,712 
Fiscal Year 2018
AmericasEuropeAsiaCorporate Total
Product Type
Watches $936,875 $656,948 $439,029 $169 $2,033,021 
Leathers171,808 67,264 50,313 — 289,385 
Jewelry50,266 111,603 5,906 — 167,775 
Other 15,558 20,476 10,225 5,048 51,307 
Consolidated $1,174,507 $856,291 $505,473 $5,217 $2,541,488 
Timing of Revenue Recognition
Revenue recognized at a point in time $1,172,200 $855,219 $504,956 $4,477 $2,536,852 
Revenue recognized over time 2,307 1,072 517 740 4,636 
Consolidated$1,174,507 $856,291 $505,473 $5,217 $2,541,488 
Contract Balances. As of January 2, 2021, the Company had no material contract assets on the consolidated balance sheets and no deferred contract costs. The Company had contract liabilities of (i) $9.9 million and $13.4 million as of January 2, 2021 and December 28, 2019, respectively, related to remaining performance obligations on licensing income, (ii) $4.6 million and $5.3 million as of January 2, 2021 and December 28, 2019, respectively, primarily related to remaining performance obligations on wearable technology products and (iii) $4.2 million and $3.3 million as of January 2, 2021 and December 28, 2019, respectively, related to gift cards issued.
Shipping and Handling Fees. The Company accounts for shipping and handling activities that occur after control of the related good transfers as fulfillment activities instead of assessing such activities as performance obligations.