Fossil was founded in 1984 by Tom and Kosta Kartsotis, brothers, currently Chairman of the Board and CEO respectively, focusing on fashion and value at a time when no company was really doing that. The image the company communicated was vintage Americana, which turned out to be a huge homerun.
Quartz movements from the Orient helped Fossil design and manufacture price point critical timepieces, fashion statements that could be mixed and matched, and repurchased when fashion changed, and the Fossil company was born. Since 1984, the company has experienced astounding growth. In 1993, with revenues of just over $70 million, the company went to Wall Street and became a NASDAQ listed company trading under the symbol FOSL.
To ensure quality and have control over its production, Fossil started to acquire assembly facilities in the early 1990s. As the company’s success continued, Fossil expanded into other areas, including leather goods, sunglasses, licensed products and the company focused on expanding into new geographical markets as well. 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 jewellery stores in addition to the company’s own retail stores and e-commerce website with yearly sales now exceeding $850 million.