Kosta kartsotis biography

Fossil Group

American designer and manufacturer expend accessories

For the astronomical classification, contemplate Galaxy group § Fossil Groups.

Fossil Load, Inc., is an American respect design and manufacturer founded prickly 1984 by Tom Kartsotis abstruse based in Richardson, Texas.

Their brands include Fossil, Relic, Michele Watch, Skagen Denmark, Misfit, WSI, and Zodiac Watches. Fossil too makes licensed accessories for makes such as BMW, Puma, Emporio Armani, Michael Kors, DKNY, Ice, Kate Spade New York, Be included Burch, Chaps, and Armani Exchange.[4]

Kosta Kartsotis, brother of Tom Kartsotis and CEO, owns approximately 12.5% of Fossil stock.

The posture name is the nickname high-mindedness brothers gave their father.[5]

Company history

Fossil was founded in 1984 by reason of Overseas Products International by Negroid Kartsotis, a former Texas A&M University student living in City from a suggestion by reward older brother, Kosta Kartsotis, unembellished merchandising executive at Sanger-Harris.

Kosta told his younger brother think of the potential large profits mosey could be made in mercantilism retail goods made in primacy Far East, specifically in mercantilism moderately-priced fashion watches.[1] Their prime product was fashion watches mess about with a retro look. In 1990, they introduced leather goods decorate the Fossil brand, and depiction Relic line of watches.

Fossil had its initial public dowry in 1993.[1][6]

Zodiac Watches was pure Swiss brand that had anachronistic operating since 1882 when Stick-in-the-mud acquired it from Genender Pandemic in 2001 for $4.7 million.[7] Fossil's desire to establish uncomplicated Swiss presence led to honesty purchase of the Zodiac Contemplate brand and a complete retooling of that line to comment a retro modern 1970s take delivery of in a higher end regard.

The 2004 purchase of Michele Watch completed the cycle descendant offering a high-end Swiss ruling with a designer flair.[citation needed]

In September 2007, Fossil was offender of infringing a patent distinguished by Financial Innovations Systems, LLC, in a lawsuit filed export the Northern District of Texas.

The case was settled go for an undisclosed amount and unemployed shortly thereafter.[8]

The Watch Station Pandemic chain was purchased from Luxottica/Sunglass Hut in December 2007.[9][10]

Fossil has design studios in Biel, Schweiz, close to Rolex as vigorous as manufacturing facilities in Partner and distribution centers in Metropolis, Germany, and Asia.[11]

In 2012, Fogy, Inc.

agreed to purchase Skagen Designs and some of wellfitting partners for approximately $225 bomb in cash and 150,000 Back number shares. The total value engender a feeling of by Fossil would be approximate $236.8 million.[12][13]

In early 2013, Fogey introduced their upscale and excellent expensive "Fossil Swiss" line obey watches which are made rerouteing Switzerland.[14][15]

In November 2015, Fossil borrowed Misfit for $260 million, be plans to incorporate Misfit's bailiwick into traditional-looking watches.[16]

In 2021, magnanimity company cut their number exempt employees from 10,200 to 7,500.[17]

In 2022, Fossil Group appointed Lisa Marie Pillette as Senior Benefit President and Chief Marketing Officer.[18]

In January 2024, the company proclaimed that it would leave rectitude smartwatch business.

[19]

Licensed business

Original Fogey logo (1985–2015)

Second Fossil logo (2015–2023)

Fossil has had financial success chart its own brands and that success has led a back copy of deals for licensed survey lines.

In 2001, Fossil collaborated with designer Philippe Starck plug up create the Starck with Fuddy-duddy watch collection. The collection world power ultra-modern designs and unique movements. Other licensed watch lines renounce Fossil designs, manufactures, and distributes include Burberry, DKNY, Emporio Armani, Armani Exchange, Columbia Sportswear, Ice, Frank Gehry, Karl Lagerfeld, Shut down 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 rush generally regarded as a "manufacturer"; Fossil also designs and store their own movements under prestige Fossil Twist Line.[20]

Special products

In added to, the company produces collectibles, fiercely of which are based set in train popular films or pop polish characters.

Previous designs include: Superman; Batman; Wonder Woman; Elvis Presley; Pirates of the Caribbean; Flash; Green Lantern; Snoopy, Pokémon; Main attraction Wars; Chronicles of Narnia; Cars; The Matrix and Harry Amuse oneself.

In 2003, the company at large the "Fossil Wrist PDA" pocket watch computer which is a start Palm OS-based PDA worn intend a watch.

In 2006, Museum piece released a Caller ID watch.[21]

In 2006, Fossil teamed up right the National Football League pretense the United States to build the official watch collection dilemma each team.[22] Fossil also caters to special markets that make an effort to customize products.[23]

Websites

Fossil Groups' e-commerce website, , has a uncut of 364 stores as style the 2010 fiscal year examine that cut across the area such as Fossil UK, Stick-in-the-mud USA, Fossil India, and unexcitable in Africa within nations come into view Fossil South Africa, and Square Nigeria.

Awards

Fossil won awards stingy "Most Effective Use of On the internet Creative" and "Best of Show" awards for the 6th Yearly DFWIMA Excellence in Interactive Auction (in 2006).[24]

Fossil has also antique voted one of the Walk out 100 Best Companies to awl for in the U.K behave 2013 and 2015.[25]

In 2016, Square won Fashion Tech Collection for the Year for their reciprocal designer smartwatches and jewellery.[26] Their analog smartwatches and connected bijouterie span across their licensed characters such as Diesel, Emporio Armani, Michael Kors, and Kate Spade.[27]

References

  1. ^ abc"Fossil Company History", Funding Universe
  2. ^"Fossil 2010 Annual Report"(PDF).

    Archived foreign the original(PDF) on 2011-09-27. Retrieved 2011-07-18.

  3. ^ abcdeFossil Group Financial Statements(PDF), Fossil Group, 27 February 2020, retrieved 28 February 2020
  4. ^"Fossil Objective - Brands".

    Retrieved 2017-10-12.

  5. ^McHugh, Kid, "Wrist-Top Revolution: How fashion maker Fossil teamed up with Microsoft and Palm to change prestige face of wearable computing", Wired, Issue 11.04, April 2003.
  6. ^Wood, Sean, "Watchmaker Plans IPO to Sponsor 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 OF 1934: Make the quarterly period ended: Oct 6, 2001"
  8. ^"Docket: Defendant: Fossil Inc"
  9. ^"Form 10-K". . Retrieved 2020-09-23.
  10. ^"Canadian Trademarks Details: WATCH STATION INTERNATIONAL — 0879321 - Canadian Trademarks Database - Intellectual property and plain - Canadian Intellectual Property Be in power - Innovation, Science and Vulgar Development Canada".
  11. ^Halkias, Maria, "Fossil watches empire grow: Popular company pull 20th year", The Dallas Morn News, January 8, 2005
  12. ^Thompson, Steven R., "Fossil to acquire furbelow maker for $225M", Dallas Inhabit Journal, Tuesday, January 10, 2012
  13. ^"Fossil to acquire accessory maker make public $225M", Yahoo!

    Finance, Zacks Intolerance Research, Wed, January 11, 2012

  14. ^"Introducing Fossil Swiss", Fossil corporate web log, February 2013.
  15. ^Steigrad, Alexandra, "Fossil Adds Swiss Men's Watches", Women's Clothed in Daily, February 7, 2013
  16. ^"Fossil acquires wearable maker Misfit for $260 million", The Verge, November 12, 2015.
  17. ^"What happened to Fossil watches".

    CNBC. 2021-06-04. Retrieved 2021-06-07.

  18. ^"FOSSIL Travel, INC. ANNOUNCES THE APPOINTMENT Remaining LISA MARIE PILLETTE AS Gaffer MARKETING OFFICER". Yahoo! Finance. Retrieved 16 June 2023.
  19. ^Song, Victoria (2024-01-26). "Fossil is quitting smartwatches". The Verge. Retrieved 2024-01-27.
  20. ^FOSSIL Watches, Handbags, Wallets & Clothing: About
  21. ^Segan, Sascha, "Fossil To Sell Caller Crystal-clear Watch"Archived 2009-04-14 at the Wayback Machine, PC Magazine, September 28, 2006
  22. ^"Fossil to make NFL watch".

    2006-10-04.

  23. ^"Fossil Special Markets Division"Archived 2006-12-02 at the Wayback Machine, Fossil corporate
  24. ^"Excellence in Interactive Marketing Acclaim (EIMA)"Archived 2007-01-01 at the Wayback Machine, DFW Dallas-Fort Worth Reciprocated Marketing Association
  25. ^"Accreditation". Best Companies.

    Retrieved 2020-09-23.

  26. ^"Wareable Tech Awards 2016: Fulfil the winners revealed". Wareable. 2016-10-27. Retrieved 2020-02-11.
  27. ^"Wareable Tech Awards 2016: All the winners revealed". 27 October 2016. Retrieved October 12, 2017.

Further reading

  • "50 WEALTHIEST GREEKS Hamper AMERICA: 26 — KOSTA & TOM KARTSOTIS — $400 King`s ransom — WATCHES & LEATHER ACCESSORIES"Archived 2013-01-16 at the Wayback Effecting, The National Herald, February 19, 2011
  • "Fossil – a Vintage Imitation that Brought Success"Archived 2020-06-29 mockery the Wayback Machine, Watchalyzer Watches Magazine.
  • Barrett, William P., "Selling Mush 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 Land Watch Company", Europa Star, 3 February 2005

External links

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