The Heart And Soul of Fossil
The heart and soul of the FOSSIL brand – its people, products and culture – is about a unique kind of inspired creativity. Representing the concept of accessible cool, Fossil's identity is anchored in vintage authentic style mixed with a creative spirit and a sense of humour that extends into all its product offerings, graphics and one-of-a-kind, trademark collectible tins. Fossil creates modern yet vintage products for everyone, a simple yet compelling idea reflected in the Company's tagline,Long Live Vintage.™
Founded in 1984, Fossil was the first American brand to bring value and style to the watch category transforming the concept of timekeeping from the merely functional to chic and stylish must-haves for the wrist. Since then, Fossil has always been in the avant-garde, whether in terms of technology, the choice of materials or design. Fossil offers an extensive line of watches under its proprietary FOSSIL®, RELIC®, MW®, MW MICHELE®, MOBILEWEAR™ and ZODIAC® brands and, pursuant to license agreements, under some of the most prestigious brands in the world, including ADIDAS®, BURBERRY®, CALLAWAY GOLF®, COLUMBIA SPORTSWEAR®, DIESEL®, DKNY®, EMPORIO ARMANI®, MICHAEL MICHAEL KORS® and MARC® by MARC JACOBS. In the early 1990's, Fossil expanded its core business, launching a line of accessory products including handbags, belts, small leather goods and sunglasses under the FOSSIL and RELIC brands. The Company also owns or licenses proprietary technology for certain of its watch products, including its BIG TIC® technology developed in 1998 and the patent-pending combination automatic/quartz movement called TWIST. Fossil also offers jewellery under the FOSSIL, DIESEL and EMPORIO ARMANI brands and in 2000 introduced FOSSIL Jeans wear targeted towards youthful consumers. In 2002 Fossil created a proprietary technology brand ABACUS®, targeted for distribution in the electronics channel.
Fossil's in-house team of renowned designers constantly study and draw inspiration from emerging lifestyle and fashion trends to bring customers the most innovative and unique products worldwide while ensuring consistency with the Company's existing product offerings and the themes and images that it associates with its products. For its licensed brands, Fossil works with the respective licensor's design team. In certain instances, Fossil believes that innovations in design details for the Company's watches and details and treatments in its other accessories have allowed it to achieve significant improvements in consumer acceptance of its products with only minor increases in manufacturing costs. Fossil believes that the substantial experience of its design staff will assist in maintaining its current leadership position in watch design and in expanding the scope of its product offerings.
In 2006, Fossil accomplished two firsts. After more than seventeen years of transforming the very concept of packaging with its signature watch tins, Fossil announced in June, Tinspiration, the Fossil design contest, inviting designers from around the United States to develop artwork for the brand's famous watch tin packaging. Over 250 submissions were posted to the fossil.com website and after the final voting was tallied, a winner was announced in November. The main prize was the winner's and the second, third and fourth place finishers designs to be produced on a limited edition run of Fossil watch tins summer of 2007. Additional prizes were also given. The contest was wonderfully successful that Fossil will announce another design contest later this year.
Also, as part of its celebration of their unique tin history, Fossil published a coffee-table book anthology showcasing hundreds of its most creative and unique tin designs from the past 17 years. The Fossil tin has delivered a fun, irreverent and vintage brand message to millions of consumers worldwide for over 17 years.
These iconic boxes are nearly as popular as the watches they hold and are regularly collected and traded throughout the world at flea markets, antique shops, and on eBay. With one of the most celebrated graphic design teams in the world and hundreds of awards to their credit, Fossil continues to set the highest standard for creative excellence.
Domestically, the Company sells its products in retail locations in the United States through a diversified distribution network that includes department store doors and specialty retail locations. Department store doors include stores such as Nieman Marcus, Saks Fifth Avenue, Nordstrom, Federated Department Stores and Dillard's, as-well-as stores such as JCPenney, Kohl's and Sears. In addition, Fossil sells certain private label products through mass-market stores such as Wal-Mart, Target and Kmart. The specialty retail locations sell a mix of Fossil's proprietary and licensed brands. Fossil also sells its products in the United Stated through a network of 113 Company-owned stores, with 53 retail stores located in premier retail sites and 60 outlet stores located in major outlet malls. The Company also offers selected FOSSIL and licensed brand products at its website, www.fossil.com and ABACUS brand products at its website www.abacuswatches.com.
Internationally, Fossil's products are sold to department stores and specialty retail stores in over 90 countries worldwide through Company-owned foreign sales subsidiaries and through a network of approximately 60 independent distributors. The Company's products can be found in the Asia Pacific region, Europe, South and Central America, the Caribbean, Canada, Mexico and the Middle East. Fossil's products are offered on cruise ships and in 23 international Company-owned FOSSIL retail stores. Additionally, the Company's products are sold through independently owned FOSSIL retail stores and kiosks in certain international markets.
In 2001, Fossil completed the acquisition of three separate companies located in Bienne, Switzerland. Through this acquisition, the Company obtained the design, sourcing and production capabilities necessary to manufacture Fossil's entrée into the Swiss business, allowing it to market to an important consumer segment with unique tastes for Swiss made designs. Another important facet of this business is Fossil's ability to leverage the Swiss infrastructure with key licensing relationships including the Burberry license. The Swiss Division, Montres Antima SA, handles the design, manufacturing, distribution, and merchandising of Burberry timepieces.
Fossil has become one of the most innovative companies in the world market and continues to reinforce its initial philosophy of constantly pushing the boundaries of design, innovation and technology all symbolized by its products and its people. WHAT VINTAGE ARE YOU?™, that is the heart and soul of Fossil.
Fossil is a global lifestyle company specializing in consumer fashion accessories. It designs, markets, distributes, and retails accessory products under both owned and licensed brand names. A distinctive modern vintage design aesthetic defines the Fossil brand, fusing elements of vintage creative culture, Mid-Century Modern design, and contemporary fashion. With offerings that include watches, jewellery, leather goods, sunwear, apparel, and footwear, Fossil continues to grow as it introduces new designs, stores, and product categories. 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 websites. Certain product, press release and SEC filing information concerning the Company is available at www.fossil.com.