Fossil, Inc.

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FOSSIL, INC.
Company logo
Type Public (NASDAQ: FOSL)
Founded 1984
Headquarters Richardson, Texas
Key people Tom Kartsotis, Chairman of the Board
Kosta N. Kartsotis, President and CEO
Industry Recreational Goods
Products Watches, Jewelry, Clothing, Wallets, Sunglasses
Revenue $1.0 billion USD (2005)[1]
Website www.fossil.com/

Fossil, Inc. (NASDAQ: FOSL) is a designer and manufacturer of clothing and accessories, primarily watches and jewelry, but also sunglasses and wallets, based in Richardson, Texas, United States. Their brands include Fossil, Relic, Abacus, Michele Watch and Zodiac Watch. Fossil watches are common in middle-income retail stores, as well as at most department stores.


Contents

[edit] Company History

Zodiac was a Swiss brand that had been operating since 1882 when Fossil acquired it in 2001 to give them a higher end brand. In its earlier days, Fossil watches were known for their mid 50's era designs and low entry price. They later branched into the sale of leather goods and other accessories in the 90's. 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 70's 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.


[edit] Company Objectives

1) Take Fossil Brands into NEW PRODUCT CATEGORIES utilizing exclusive brand portfolio to market share globally

2) Leverage existing and developing new DISTRIBUTION CHANNELS

3) Global expansion through STRATEGIC ALLIANCES continuing to be a leader in design and production [1]

[edit] License Business

Fossil has been very successful with its own brands and this success has led to companies coming to Fossil to create licensed watch lines. The licensed watch lines that Fossil designs, manufactures, and distributes include Burberry, DKNY, Emporio Armani, Columbia Sportswear, Diesel, Frank Gehry, Philippe Starck, Michael Kors, Callaway Golf, Davis Cup, Marc Jacobs and Adidas. When referencing Fossil's watch lines, they are generally regarded as a "manufacturer"; However, Fossil only assembles watches, using pre-made movements and only designing the cases and dials of the watch.

[edit] Special Products

In addition, the company produces collectibles, some of which are based on popular films or pop culture characters. Previous designs have include: Superman, Batman, Wonder Woman, Elvis Presley, "Pirates of the Caribbean", Flash, Green Lantern, Snoopy, Pokemon, Star Wars, "Chronicles of Narnia" and Disney's "Cars". [2]

The company released Wrist PDA which is a tiny Palm OS-based PDA worn like a watch. In 2006, Fossil released a Caller ID watch. [3] Also in 2006, Fossil teamed up with the NFL to make the official watch collection for each team. [4] Fossil also caters to special markets that seek to customize products. [5]

[edit] 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) [6]

[edit] About Management

Two brothers, Tom Kartsotis and Kosta Kartsotis, own approximately 30% of Fossil stock. The company name represents the nickname the brothers had for their grandfather.

[edit] References

  1. ^ Fossil, Inc. (February 21, 2006). Fossil, Inc. Reports Fourth Quarter and Fiscal 2005 Results. Press release.


[edit] Fossil Designed Watches


[edit] External links

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