The new millennium led to further growth of Timex Corporation and its parent Timex Group B.V., by way of brand acquisition, brand introduction, and licensing partnerships. In 2000, Timex Corporation purchased the French fashion watch brand Opex. Under its Callanen subsidiary, Timex acquired the watch license for urban fashion designer Marc Eckō in 2002. The company entered the luxury market in 2005 when Timex's parent company acquired Swiss-based Vertime SA. Vertime is responsible for the design, manufacturing, and distribution of Swiss-made watches and jewelry for the Versace and Versus brands. Timex USA's international holding company the Timex Group launched the TX Watch Company in late 2006. In 2007, Timex Group B.V. established Sequel AG as a separate company devoted to the design, manufacture, and distribution of the Guess and the Swiss-made Gc watch brands. Timex Group B.V. purchased the Italian design studio Giorgio Galli Design Lab in 2007.