Fossil is a design, development, marketing and distribution company that
specializes in consumer products predicated on fashion and value. The company's
principal offerings include an extensive line of fashion watches sold under the
Company's proprietary FOSSIL®, RELIC® and ZODIAC® brands as well as licensed
brands for some of the most prestigious companies in the world, including
EMPORIO ARMANI®, DKNY®, DIESEL® and BURBERRY®. The Company also offers
complementary lines of small leather goods, belts, handbags and sunglasses under
the FOSSIL and RELIC brands, jewellery under the FOSSIL and EMPORIO ARMANI
brands and FOSSIL apparel. The Company's products are sold in department stores
and specialty retail stores in over 90 countries around the world, in addition
to the Company's e-commerce website at www.fossil.com.
The Company differentiates its products from those of its competitors
principally through innovations in fashion details. These innovations include
variations in the treatment of watch dials, crystals, cases, straps and
bracelets for the Company's watches and innovative treatments and details in its
other accessories. An in-house creative services team coordinates product
design, packaging, advertising and in-store presentations to more effectively
and cohesively communicate to its target markets the themes and images
associated with its brands. Brand name development is further enhanced through
Company-owned stores as well as the Company's website.
Utilizing several wholly and majority-owned watch assembly facilities and
centralized distribution points enables the Company to reduce its inventory
risk, increase flexibility in meeting the delivery requirements of its customers
and maintain significant cost advantages compared to its competitors.
Additionally, the Company's centralized infrastructure in development/design
coupled with its production/sourcing capabilities allows it to leverage the
strength of its branded watch portfolio over an extensive global distribution
Fossil was founded in 1984 at a time when watches were created primarily for
function rather than fashion. The Company sought to fill this void in the market
and began designing watches that served as a fashion accessory in addition to
keeping accurate time. To draw attention to the Company's objective to deliver a
product that was high quality at a value price, it adopted an Americana image
reminiscent of a simpler time in history where value and fun with fashion stood
out. As time has passed, the Company and its products have evolved as well.
Continual innovative development and exceptional performance have kept the
Company on a track of over 15 years of uninterrupted growth.
In 1993, with revenues of just over $70 million, the Company brought its story
and ideas for the future to Wall Street and became a NASDAQ listed company
trading under the symbol FOSL. To ensure the quality of its watch products and
protect the incubation of its innovative ideas, the Company began acquiring
assembly facilities in the early 1990's. As the FOSSIL brand recognition and
reputation for quality and customer service grew, customers and consumers were
driving the product into new areas. The Company began expanding rapidly into new
product categories, geographic territories and distribution channels. Today, the
Company sells various accessory products under multiple owned and licensed brand
names across over 90 countries around the world. These products are sold in
department, specialty and jewelry stores in addition to the Company's own retail
stores and e-commerce website with yearly sales now exceeding $600 million.
New opportunities are explored everyday and the Company's brand names are just
starting to gain recognition in many parts of the world. Renowned designers are
constantly studying emerging fashion trends to bring customers the most
innovative and unique products on the market to date. In addition, the Company
is building its infrastructure to ensure it has strong foundation in which to
grow and continue building its rich history of innovation and performance.
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