Fashion design house Polo Ralph Lauren and luxury goods producer Richemont have launched a joint venture to produce fine watches and jewelry.

Under the agreement, Polo Ralph Lauren has created a new division called The Polo Ralph Lauren Watch and Jewellery Co. Sarl to develop, manufacture, and distribute luxury watches and fine jewelry worldwide through Ralph Lauren boutiques and independent retailers. The partnership’s first products will debut in fall 2008.

This is Richemont’s first joint venture with a luxury fashion designer and Polo Ralph Lauren’s first foray into fine jewelry and watches.