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Timex and Versace form Alliance
Timex Group has acquired Versace S.A., a subsidiary of Gianni Versace, with operations in Lugano, Switzerland. The division is the current watch, jewelry and writing instrument licensee of Gianni Versace. The division will be renamed as a result of the aquisition. There are no plans to relocate the company or reduce its existing workforce. Timex will continue to manufacture and distribute watches, jewelry, and writing instruments bearing the Versace trademark.
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