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Fossil, Inc.
 |
| Type |
Public (NASDAQ: FOSL) |
| Founded |
1984 |
| Headquarters |
Richardson, Texas, United States |
| Key people |
Tom Kartsotis, Chairman
Kosta N. Kartsotis, CEO
Michael Barnes , COO |
| Industry |
Recreational Goods |
| Products |
Watches,
Jewelry,
Clothing, Wallets, 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, Burberry, Emporio
Armani, Michele Watch and Zodiac Watch.
Company
History
Fossil was founded in 1984 as Overseas Products International.
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 an IPO in 1993[2]
Zodiac was a Swiss brand that had been operating since 1882 when
Fossil acquired it in 2001 to give them a higher end brand.
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.
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. [3]
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, Pokémon, 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]
Lawsuits and Legal
Issues
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.[4]
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]
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 father.
Fossil
Designed Watches
References
External
links
Coordinates: 32°58′47″N 96°42′09″W / 32.9798°N
96.7025°W / 32.9798;
-96.7025
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