Fossil: A round-up

First published: 14-08-2014

Fossil Watches has made the headlines recently for a number of exciting reasons, so here are a few of the biggest stories that have been reported in the media.

Armani contract extended

Fossil recently announced its intention to extend its global licensing agreement with Armani. 

This means the company will continue to make watches that bear the Italian fashion designer's label until 2023. 

The agreement was first signed between the two companies in 1997 to design, create and distribute timepieces. In 2002, jewellery was included, while watches under the Armani Exchange label came into being in 2008. Earlier this year, an exclusive collection for the Emporio Armani Swiss was brought into creation.

Chief executive officer (CEO) of Fossil Group Kosta Kartsotis said the firm was "very proud" of its history with the Armani Group and it was a delight to continue the collaboration. 

"This global licensing agreement will allow us to continue to leverage our strengths in design, innovation, production and global distribution to further grow the Armani brand and extensive line of timepieces," he added.

CEO at Giorgio Armani Livio Proli praised Fossil's ability to create inventive timepieces that mirror the style of Armani. 

Impressive Q2 results

The results for the second quarter of the year made for pleasing reading, as it transpired net sales rose ten per cent to $774 million (£464 million). 

Fossil reported that net sales of watches had leapt by 12 per cent, while jewellery increased even more (19 per cent). Net sales in all categories grew in this three-month period up until July 5th. 

Wholesale net sales took a hike of 13 per cent in Europe in this period, when compared to Q2 of fiscal 2013. The main reason for this was impressive growth in watches and jewellery. 

Mr Kartsotis commented that the firm as a whole was excited about what the second half of 2014 held and spoke of his desire to make the most of its competitive advantages. These include "our design and brand-building talent, compelling portfolio of brands, world-class supply chain and expansive global distribution network".

He added that he was expecting to deliver growth and "outstanding returns" for shareholders. 

All staff on a level playing field

Speaking to WatchPro, Fossil Group's managing director Helen Wood revealed some of the secrets behind the success of the corporation.

All parts of the group are treated fairly and Ms Wood praised the way all of the staff had worked together. A strategy is in place to ensure everybody is listened to and feels valued. 

"We all recognise that for us to drive the business from strength to strength we need the support, expertise and insights of each other," she commented. 

© Copyright WATCH SHOP UK - DO NOT COPY

Related articles

Sunday 31st March Mother's Day Gift Ideas The Watch Shop Guide

Posted: 18-03-2016

Watch Shop has curated the perfect selection of Mother’s Day gifts. Find designer inspiration from timeless watches to beautifully crafted jewellery – spoiling Mum has never been easier!

A guide to choosing a gold watch

Posted: 09-02-2019

Make a statement with a gold watch this New Year and give your outfit that little something special, whatever the occasion. Browse designs for men and women from brands including Guess, Armani Exchange, Coach, and more.

A guide to buying a silver watch: Gifts for him and for her

Posted: 07-02-2019

Enhance your wardrobe with a silver watch for every occasion. From classic designs to out-of-this-world pieces, explore some of our favourite silver watches from top brands, including Gucci, Raymond Weil, and STORM.

Watch and jewellery trends for 2019

Posted: 07-02-2019

Relax, we’ve found the watch and jewellery trends that are going to help you look your best in 2019. Browse our full collection of the newest accessories from brands including Llarsen, Storm, and Guess.