Fossil Watches founder goes it alone

First published: 01-06-2012

The founder of Fossil Watches is all set to go it alone in the world of fine timepieces, after it was revealed he was close to signing a lease to sell goods in Detroit.

Tom Kartsotis was one of the original people behind the ever-popular Fossil Watches brand, serving as chief executive officer with the manufacturer from 1984 to 2000.

Starting the company as a 24-year-old college dropout, Kartsotis successful built the mens watches firm into one of the most iconic and innovative brands on the market.

At one point, Fossil Watches accounted for approximately 33 to 35 per cent of the US domestic watch market. Over the past decade, Kartsotis began to step back from things though, eventually stepping down as chairman in 2010 to be replaced by his brother Kosta Kartsotis.

However, according to new reports, he could be set for a shock return, with the former Fossil watch man set to open a retail outlet in Detroit.

At the time of writing, no one had yet confirmed the deal, though it remains an interesting development with the return of a familiar player on the timepieces market.

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