Fossil Group

Fossil Group, Inc. is an American fashion

designer and manufacturer founded in
1984 by Tom Kartsotis and based in
Richardson, Texas. Their brands include
Fossil, Relic, BMW, Michele Watch, Skagen
Denmark, Misfit, WSI, and Zodiac Watches.
Fossil also makes licensed accessories
for brands such as Puma, Emporio Armani,
Michael Kors, DKNY, Diesel, Kate Spade
New York, Tory Burch, Chaps, and Armani
Exchange.[4]
 Fossil Group, Inc.

Type Public

Traded as NASDAQ: FOSL
S&P 600 Component
Industry Luxury goods

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 US$2.21 billion
(2019)[3]
Operating income US$−28.3 million
(2019)[3]
Net income US$−52.3 million
(2019)[3]
Total assets US$1.60 billion
(2019)[3]
Total equity US$503 million
(2019)[3]
Number of 10,200[3] (2019)
employees

Website www.fossil.com
Fossil store, Oxford Street, London, 2016

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]

Company history
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.

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, Ltd. 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]

License business
Previous logo for the Fossil Group.

Fossil has 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
movement. 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 manufacture their own
movements under the Fossil Twist Line.[17]

Special products
The Fossil Wrist PDA released in 2003, which runs
Palm OS

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; and The Matrix.
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.[18]

In 2006, Fossil teamed up with the

National Football League in the United
States to make the official watch
collection for each team.[19] Fossil also
caters to special markets that seek to
customize products.[20]

Awards
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).[21]

Fossil has also been voted one of the Top

100 Best Companies to work for in the U.K
in 2013 and 2015.[22]

In 2016, Fossil won Fashion Tech

Collection of the Year for their connected
designer smartwatches and jewellery.[23]
Their analog smartwatches and connected
jewellery span across their licensed
brands such as Diesel, Emporio Armani,
Michael Kors, and Kate Spade.[24]
References
1. "Fossil Company History" , Funding
Universe
2. "Fossil 2010 Annual Report" (PDF).
Archived from the original (PDF) on
2011-09-27. Retrieved 2011-07-18.
3. Fossil Group Financial Statements
(PDF), Fossil Group, 27 February 2020,
retrieved 28 February 2020
4. "Fossil Group - Brands" . Retrieved
2017-10-12.
5. McHugh, Josh, "Wrist-Top Revolution:
How fashion watchmaker Fossil
teamed up with Microsoft and Palm to
change the face of wearable
computing" , Wired, Issue 11.04, April
2003
. Wood, Sean, "Watchmaker Plans IPO
to Fund Acquisitions, Expansion",
Dallas Business Journal, February 7,
1992, p. 3.
7. "QUARTERLY REPORT PURSUANT TO
SECTION 13 OR 15(d) OF THE
SECURITIES EXCHANGE ACT O 1934 :
For the quarterly period ended:
October 6, 2001"
 . "Docket: Defendant: Fossil Inc"
9. "Form 10-K" . www.sec.gov. Retrieved
2020-09-23.
10. "Canadian Trademarks Details:
WATCH STATION INTERNATIONAL —
0879321 - Canadian Trademarks
Database - Intellectual property and
copyright - Canadian Intellectual
Property Office - Innovation, Science
and Economic Development Canada" .
11. Halkias, Maria, "Fossil watches empire
grow: Popular company marks 20th
year" , The Dallas Morning News,
January 8, 2005
12. Thompson, Steven R., "Fossil to
acquire accessory maker for $225M" ,
Dallas Business Journal, Tuesday,
January 10, 2012
13. "Fossil to acquire accessory maker for
$225M" , Yahoo! Finance, Zacks Equity
Research, Wed, January 11, 2012
14. "Introducing Fossil Swiss" , Fossil
corporate blog, February 2013.
15. Steigrad, Alexandra, "Fossil Adds
Swiss Men's Watches" , Women's Wear
Daily, February 7, 2013
1 . "Fossil acquires wearable maker Misfit
for $260 million" , The Verge,
November 12, 2015.
17. FOSSIL Watches, Handbags, Wallets &
Clothing: About
1 . Segan, Sascha, "Fossil To Sell Caller ID
Watch" , PC Magazine, September 28,
2006
19. "Fossil to make NFL watch" . 2006-10-
04.
20. "Fossil Special Markets Division" ,
Fossil corporate
21. "Excellence in Interactive Marketing
Awards (EIMA)" Archived 2007-01-01
at the Wayback Machine, DFW Dallas-
Fort Worth Interactive Marketing
Association
22. "Accreditation" . Best Companies.
Retrieved 2020-09-23.
23. "Wareable Tech Awards 2016: All the
winners revealed" . Wareable. 2016-
10-27. Retrieved 2020-02-11.
24. "Wareable Tech Awards 2016: All the
winners revealed" . Retrieved
October 12, 2017.

Further reading
"50 WEALTHIEST GREEKS IN AMERICA:
26 -- KOSTA & TOM KARTSOTIS -- $400
MILLION -- WATCHES & LEATHER
ACCESSORIES" , The National Herald,
February 19, 2011
 "Fossil – a Vintage Design that Brought
Success" , Watchalyzer Watches
Magazine.
Barrett, William P., "Selling Nostalgia and
Whimsy", Forbes, November 8, 1993,
p. 224.
Meadus, Amanda, "Fossil Falters but
Watches Tick On", WWD, December 11,
1995, p. 8.
Strandberg, Keith W., "Fossil, the Great
American Watch Company" , Europa
Star, 3 February 2005

External links
 Wikimedia Commons has media
related to Fossil Group.

Official website

Retrieved from
"https://en.wikipedia.org/w/index.php?
title=Fossil_Group&oldid=995267465"

Last edited 30 days ago by Monkbot

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