Fossil Group has signed a global licensing agreement with BMW to design, develop and distribute BMW-branded watches and smartwatches until 2023.

“BMW is one of the most iconic brands in the world,” said Fossil Group chairman and CEO Kosta Kartsotis. “We look forward to bringing our watch design expertise and smartwatch capabilities to BMW enthusiasts around the world.”

The first collection of BMW-branded watches designed by Fossil will go on sale next year after a collaboration by designers from the two companies.

The collections will be sold globally in more than 4000 BMW retail channels and key retailers in Fossil Group’s global network.

Fossil Group already has design partnerships with licensed brands including Armani Exchange, Chaps, Diesel, DKNY, Emporio Armani, Kate Spade New York, Marc Jacobs, Michael Kors, Puma and Tory Burch.