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Company type | Public |
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Nasdaq: FOSL | |
Industry | Fashion |
Founded | 1984 | (as Overseas Products)
Founder | Tom Kartsotis [1] |
Headquarters | Richardson, Texas, U.S. |
Number of locations | 364 [2] |
Key people | Kosta Kartsotis (chairman & CEO) |
Products | Watches, Wallets, Jewelry, Perfume, Leather products |
Revenue | ![]() |
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Total assets | ![]() |
Total equity | ![]() |
Number of employees | 7500 (2021) |
Website | fossilgroup |
Fossil Group, Inc., is an American fashion design and manufacturer founded in 1984 by Tom Kartsotis and based in Richardson, Texas. Their brands include Fossil, Relic, Michele Watch, Skagen Denmark, Misfit, WSI, and Zodiac Watches. Fossil also makes licensed accessories for brands such as BMW, Puma, Emporio Armani, Michael Kors, DKNY, Diesel, Kate Spade New York, Tory Burch, Chaps, and Armani Exchange. [4]
Kosta Kartsotis, brother of Tom Kartsotis and CEO, owns approximately 12.5% of Fossil stock. The company name is the nickname the brothers gave their father. [5]
Fossil was founded in 1984 as Overseas Products International by Tom Kartsotis, a former Texas A&M University student living in Dallas from a suggestion by his older brother, Kosta Kartsotis, a merchandising executive at Sanger-Harris. Kosta told his younger brother about the potential large profits that could be made in importing retail goods made in the Far East, specifically in importing moderately-priced fashion watches. [1] Their main product was fashion watches with a retro look. In 1990, they introduced leather goods under the Fossil brand, and the Relic line of watches.
Fossil had its initial public offering in 1993. [1] [6]
Zodiac Watches was a Swiss brand that had been operating since 1882 when Fossil acquired it from Genender International in 2001 for $4.7 million. [7] Fossil's desire to establish a Swiss presence led to the purchase of the Zodiac Watch brand and a complete retooling of that line to reflect a retro modern 1970s style in a higher end watch. The 2004 purchase of Michele Watch completed the cycle by offering a high-end Swiss watch with a designer flair.[ citation needed ]
In September 2007, Fossil was accused of infringing a patent owned by Financial Innovations Systems, LLC, in a lawsuit filed in the Northern District of Texas. The case was settled for an undisclosed amount and dismissed shortly thereafter. [8]
The Watch Station International chain was purchased from Luxottica/Sunglass Hut in December 2007. [9] [10]
Fossil has design studios in Biel, Switzerland, close to Rolex as well as manufacturing facilities in China and distribution centers in Dallas, Germany, and Asia. [11]
In 2012, Fossil, Inc. agreed to purchase Skagen Designs and some of its partners for approximately $225 million in cash and 150,000 Fossil shares. The total value paid by Fossil would be approximately $236.8 million. [12] [13]
In early 2013, Fossil introduced their upscale and more expensive "Fossil Swiss" line of watches which are made in Switzerland. [14] [15]
In November 2015, Fossil acquired Misfit for $260 million, with plans to incorporate Misfit's technology into traditional-looking watches. [16]
In 2021, the company cut their number of employees from 10,200 to 7,500. [17]
In 2022, Fossil Group appointed Lisa Marie Pillette as Senior Vice President and Chief Marketing Officer. [18]
In January 2024, the company announced that it would leave the smartwatch business. [19]
Fossil has had financial success with its own brands and this success has led a number of deals for licensed watch lines. In 2001, Fossil collaborated with designer Philippe Starck to create the Starck with Fossil watch collection. The collection features ultra-modern designs and unique movements. Other licensed watch lines that Fossil designs, manufactures, and distributes include Burberry, DKNY, Emporio Armani, Armani Exchange, Columbia Sportswear, Diesel, Frank Gehry, Karl Lagerfeld, Tory Burch, Kate Spade, Michael Kors, Callaway Golf, Davis Cup, Marc by Marc Jacobs, Skagen Designs, Michele, and Adidas. When referencing Fossil's watch lines, they are generally regarded as a "manufacturer"; Fossil also designs and manufactures their own movements under the Fossil Twist Line. [20]
In addition, the company produces collectibles, some of which are based on popular films or pop culture characters. Previous designs include: Superman; Batman; Wonder Woman; Elvis Presley; Pirates of the Caribbean; Flash; Green Lantern; Snoopy, Pokémon; Star Wars; Chronicles of Narnia; Cars; The Matrix and Harry Potter.
In 2003, the company released the "Fossil Wrist PDA" wristwatch computer which is a tiny Palm OS-based PDA worn like a watch. In 2006, Fossil released a Caller ID watch. [21]
In 2006, Fossil teamed up with the National Football League in the United States to make the official watch collection for each team. [22] Fossil also caters to special markets that seek to customize products. [23]
Fossil Groups' e-commerce website, fossil.com, has a total of 364 stores as of the 2010 fiscal year review that cut across the world such as Fossil UK, Fossil USA, Fossil India, and even in Africa within nations like Fossil South Africa, and Fossil Nigeria.
Fossil won awards for "Most Effective Use of Online Creative" and "Best of Show" awards for the 6th Annual DFWIMA Excellence in Interactive Marketing (in 2006). [24]
Fossil has also been voted one of the Top 100 Best Companies to work for in the U.K in 2013 and 2015. [25]
In 2016, Fossil won Fashion Tech Collection of the Year for their connected designer smartwatches and jewellery. [26] Their analog smartwatches and connected jewellery span across their licensed brands such as Diesel, Emporio Armani, Michael Kors, and Kate Spade. [27]
Giorgio Armani is an Italian fashion designer. He first gained renown working for Cerruti and then for many others, including Allegri, Bagutta, and Hilton. He formed his company, Armani, in 1975, which eventually expanded into music, sport, and luxury hotels. By 2001, Armani was acclaimed as the most successful designer of Italian origin, and is credited with pioneering red-carpet fashion.
DKNY is a New York City–based fashion house for men and women, founded in 1984 by Donna Karan. The company specializes in a wide range of fashion products, including clothing, footwear, and accessories.
Giorgio Armani S.p.A., commonly known as Armani, is an Italian luxury fashion house founded in Milan by Giorgio Armani which designs, manufactures, distributes and retails haute couture, ready-to-wear, leather goods, shoes, accessories, and home interiors. Among others, Armani licenses its name and branding to Luxottica for eyewear and L'Oréal for fragrances and cosmetics. It is considered Italy's third-biggest fashion group behind Gucci and Prada.
Swatch is a Swiss watch company founded in 1983 by Ernst Thomke, Elmar Mock, and Jacques Müller. It is a subsidiary of The Swatch Group. The Swatch product line was developed as a response to the "quartz crisis" of the 1970s and 1980s, in which inexpensive, battery-powered, quartz-regulated watches were competing against more established European watchmakers focused on artisanal craftsmanship producing mostly mechanical watches.
Movado is an American watch brand originally founded in 1881 in Switzerland. Movado means "movement" in Esperanto. The watches are known for their signature metallic dot at 12 o'clock and minimalist style; the company is best known for its Museum Watch.
Shinola is an American lifestyle brand based in Detroit, Michigan. It produces and sells watches, bicycles, leather goods, clocks, home goods, and jewelry. Founded in 2011, Shinola takes its name from a common saying that harkens back to the defunct Shinola shoe polish company. The company was founded by Tom Kartsotis and is owned and operated by Texas-based investment group Bedrock Group LP.
Kate Spade & Company, initially known as Liz Claiborne Inc., and then as Fifth & Pacific Companies, Inc., is a fashion company that designs and markets a range of women's and men's apparel, accessories and fragrance products under the Kate Spade New York and Jack Spade labels. The company is owned by Tapestry, Inc.
Erin Elizabeth Wasson is an American fashion model, actress, fashion designer, and stylist.
Designer clothing refers to apparel created by a specific fashion designer or licensed by a person or brand. It is often considered luxury clothing, known for its high quality and haute couture appeal, made for the general public and bearing the label of a renowned designer. Licensing designer names has been a common practice within the fashion industry since the 1970s. Designer clothing includes a wide range of apparel, such as designer jeans, which can often cost several hundred dollars.
The term designer label refers to clothing, luxury automobile manufacturers and other personal accessory items sold under an often prestigious marque which is commonly named after a designer, founder, or a location-like where the company was founded. The term is most often applied to luxury goods. While members of the upper middle class, or the mass affluent, are perhaps the most commonly targeted customers of these designer labels, some marquees—such as Cartier, Rolex, Montblanc and the haute couture — tend to a wealthier customer base. But almost every designer brand has merchandise that the middle-class wouldn't normally be able to afford, such as exotic skins, furs and hides, limited edition pieces, or things simply priced higher. Designer label companies use their smaller and cheaper merchandise, aimed at the middle class, such as wallets, fashion jewellery, key-rings and small accessories, to make the majority of their income, whilst the more expensive pieces such as haute couture, high jewellery, hand-bags, shoes and even furnishings are usually reserved for the wealthier upper-class clientele.
Skagen Denmark is an American brand, initially of watches, of Skagen Designs Ltd., that has grown into being a wider American contemporary accessories brand based on Danish design. As of spring 2015, its product lines include watches, handbags, jewelry, and other durable personal goods, the majority of which aimed at the mid-range. Named for Skagen, a Jutland peninsula and Denmark's northernmost town, Skagen Designs Ltd. was purchased in 2012 by Fossil, for stock and cash in transaction totaling approximately US$237 million, and it continues to operate as a wholly owned subsidiary under its parent, continuing the traditional brand name Skagen Denmark. Starting in New York, then in Lake Tahoe and Reno, Nevada, Skagen Designs Ltd. operations are overseen from Richardson, Texas, near Dallas, in the United States.
Emily Sandberg Gold is an American model and actress. She was born in Rochester, MN. Gold was the international face of Clinique, Donna Karan, Versace, Fendi, and The Gap. She has also been featured on the covers of Italian Vogue, Japanese Vogue, and Italian Marie Claire. In 2015 Gold became the founder and chief executive officer of digital marketing agency Twice Social, which shut down in 2024. She now sells healthcare insurance for models through her Instagram profile.
Zodiac Watches, or simply Zodiac, is an American brand of Swiss-made watches founded in 1882 by Ariste Calame in Le Locle, Switzerland. The company mostly focuses on its dive watches through its Sea Wolf line, one of the first modern dive watches, which debuted in 1953, before the Rolex Submariner and after Blancpain Fifty Fathoms. Although Zodiac was acquired by Fossil Group in 2001, its manufacturing remained in Bienne, Switzerland. Zodiac and Fossil Group are headquartered in Richardson, Texas.
A smartwatch is a portable wearable computer that resembles a wristwatch. Most modern smartwatches are operated via a touchscreen, and rely on mobile apps that run on a connected device in order to provide core functions.
Martian Watches was a brand of smart watch founded in 2007 in the United States by SilverPlus, Inc., an American company headquartered in Irvine, California. Martian Watches allow for hands-free use of mobile phones via short distance wireless communication. Using Bluetooth and voice recognition technology, users can take calls, listen to or send text messages, see caller ID information, and send text using speech synthesis. The Martian watch is reportedly the first watch to utilize voice commands.
Misfit, Inc. was a Redwood City, California-based consumer electronics company founded on 14 October 2011 by Sonny Vu, Sridhar Iyengar and John Sculley. It specialized in wearable technology that utilizes sensors and home automation products. Misfit's wearable activity trackers and count sleep, calories, and basic steps that can be synced to a mobile app on a compatible smartphone. Vu and Iyengar previously co-founded AgaMatrix, a company that made the iBGStar, the first FDA approved Smartphone medical device.
Song Weilong is a Chinese actor and model. He is best known for his roles as Yuan Song in Find Yourself and as Ling Xiao in Go Ahead.
WatchShop is a UK online watch retailer. Established in 2007, it was acquired by the UK's largest luxury jeweller, Aurum Holdings Ltd., in 2014. It carries high-street and designer watches and jewellery from brands including Raymond Weil, Coach, and Frédérique Constant.
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