Skagen Denmark is the name given to a brand, initially of watches produced by Skagen Designs Ltd. (currently a subsidiary of Fossil), that has grown into being a wider American contemporary accessories brand based on Danish design. As of spring 2015, its product lines include its signature founding line of watches, and further lines of handbags, jewelry, and other durable personal goods. Named for Skagen, a Jutland peninsula and Denmark's northernmost town, Skagen Designs Ltd.'s stated corporate aim was to present honest, simple, purposeful designs and thus share Danish ideals globally. Skagen Designs Ltd. was purchased in 2012 by Fossil, for stock and cash in transaction totaling approximately US $237M, and it continues to operate as a wholly owned subsidiary under its parent, continuing the traditional brand name Skagen Denmark. Starting first in New York, then in Lake Tahoe and Reno, Nevada, Skagen Designs Ltd. operations are currently overseen from Richardson, Texas, near Dallas, in the United States.