Fossil Watches

Fossil Watches
Tom Kartsotis founded the American fashion designer and manufacturer Fossil Group, Inc. in 1984. It is headquartered in Richardson, Texas. Their product lines include Zodiac Watches, Fossil, Relic, Michele Watch, Skagen Denmark, Misfit, and WSI. For labels including BMW, Puma, Emporio Armani, Michael Kors, DKNY, Diesel, Kate Spade New York, Tory Burch, Chaps, and Armani Exchange, among others, Fossil also produces licensed accessories.

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Kosta Kartsotis, the CEO and brother of Tom Kartsotis, holds about 12.5% of the shares of Fossil. The moniker the brothers gave their father serves as the name of the business.

History

Tom Kartsotis, a former Texas A&M University student living in Dallas, launched Fossil in 1984 as Overseas Products International on the advice of his older brother Kosta Kartsotis, a merchandising officer at Sanger-Harris. Kosta informed his younger brother of the huge potential earnings that could be realized by importing retail products created in the Far East, particularly by importing reasonably priced fashion watches. Retro-styled fashion timepieces were their major offering. They debuted the Relic watch line and leather items under the Fossil brand in 1990.

1993 saw the initial public offering of Fossil.

When Fossil purchased Zodiac Watches from Genender International in 2001 for $4.7 million, the Swiss company had been in business since 1882. The purchase of the Zodiac Watch brand and a complete retooling of that line to reflect a retro-modern 1970s aesthetic in a higher-priced watch were motivated by Fossil’s aim to create a foothold in Switzerland. The cycle was completed by the 2004 acquisition of Michele Timepiece, which provided a high-end Swiss watch with a designer edge.

A lawsuit against Fossil was filed in the Northern District of Texas in September 2007 alleging that the company had violated a patent owned by Financial Innovations Systems, LLC. The case was quickly dropped after being settled for an unknown sum.

In December 2007, Watch Station International acquired the franchise from Luxottica/Sunglass Hut.

Near Rolex in Biel, Switzerland, Fossil includes design studios, as well as manufacturing and distribution operations in China, Dallas, Germany, and Asia.

For about $225 million in cash and 150,000 shares of Fossil, Inc. agreed to purchase Skagen Designs and several of its partners in 2012. Fossil would have spent a total of about $236.8 million.

Early in 2013, Fossil unveiled its posh, more costly, and Swiss-made “Fossil Swiss” range of timepieces.

Misfit was purchased by Fossil in November 2015 for $260 million, with the intention of integrating its technology into conventional timepieces. The corporation reduced its workforce from 10,200 to 7,500 employees in 2021.

Partnerships

With its brands, Fossil has seen financial success, and this success has sparked several agreements for licensed watch lines. The Starck with Fossil watch line was developed in 2001 through a partnership between Fossil and Philippe Starck. Modern designs and distinctive movements are present throughout the range. 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 are among the other licensed watch brands that Fossil designs, manufactures, and sells. Fossil also designs and produces its movements under the Fossil Twist Line. Fossil is typically referred to as a “manufacturer” when discussing their watch lines.

Collectibles

Additionally, the business makes collectibles, some of which are inspired by well-known movies or pop culture figures. Superman, Batman, Wonder Woman, Elvis Presley, Pirates of the Caribbean, Flash, Green Lantern, Snoopy, Pokémon, Star Wars, Chronicles of Narnia, Cars, and The Matrix are just a few examples of previous designs.

The business introduced the “Fossil Wrist PDA” wristwatch computer in 2003, a little Palm OS-based PDA worn like a watch. Fossil introduced a watch with caller ID in 2006.

The official watch line for each American National Football League team was created by Fossil in collaboration with the league in 2006.

Fossil also serves niche markets that want specialized goods.

Awards

Fossil received honors at the 6th Annual DFWIMA Excellence in Interactive Marketing Awards for “Most Effective Use of Online Creative” and “Best of Show” (in 2006).

Additionally, in 2013 and 2015, Fossil was named one of the Top 100 Best Companies to Work For in the United Kingdom.

For their connected designer smartwatches and jewelry, Fossil was awarded Fashion Tech Collection of the Year in 2016. Their licensed brands, which include Diesel, Emporio Armani, Michael Kors, and Kate Spade, are represented through their analog smartwatches and connected jewelry. Fossil also serves niche markets that want specialized goods.