Fossil: Analysis of the Company Strategy
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A look at Fossil, one of the most successful companies in US. Analysis of the Fashion Brand Strategy, Fashion Design Strategy and the Social Media Strategy of the company
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Fossil: Analysis of the Company Strategy
- 1. Fashion Design Strategy Paulina Perepelkin
- 2. In a Tin by Paulina Perepelkin
- 4. Growing, and Growing by Paulina Perepelkin
- 5. About the Company • Founded in 1984 • Total Sales 2011 are over 2.5 Billion • Market value of 6 Billion • 4 Segments: North America Wholesale Europe Wholesale Asia Pacific Wholesale Direct to Consumer by Paulina Perepelkin
- 6. Leadership •Started by 2 brothers, who still own 30% of the publicly traded company •Mr. Kosta N Kartsotis is the Chairman of the Board of Fossil, and has been the CEO since 2000. Has served as the President and COO from December 1991 to October 2000. Joined the company in 1988 after founded by brother. by Paulina Perepelkin
- 7. Distribution Channels • Department Stores • Specialty Retail locations • Specialty watch and jewelry stores • Owned retail and factory outlet stores • Mass Market Stores • Owned and Affiliate Internet sites • FOSSIL catalogue by Paulina Perepelkin
- 8. Department Stores by Paulina Perepelkin
- 9. International Presence •Over 120 Countries worldwide •22 Company Owned Foreign Sales Subsidiaries •60 Independent Distributors by Paulina Perepelkin
- 12. Direct Sales • Fossil, Inc. brand merchandise, including watches, leather goods, shoes, sunglasses, soft accessories, clothing. • 450 Stores: • 250 full price accessory stores -145 outside of North America • 138 outlet locations -50 outside of North America • 33 clothing stores - 2 outside of North America • 15 multi-brand stores -12 outside of North America • 14 SKAGEN brand stores, 8 outside of North America by Paulina Perepelkin
- 13. Production & Supply Chain •Own (watch) production sights in Asia, Switzerland •Global presence •Design, manufacture, collaborate, supply •Well-developed company, close to 30 years experience in fashion business •Established reputation & presence in minds of customers by Paulina Perepelkin
- 14. Style: Long Live Vintage •Modern Vintage: fusing the best of the past with the best of today “Fossil, Inc. understands the appeal in thrift store shopping. After all, vintage clothing and accessories are hip—the new style is to be old- styled.” (Press Release 2009) “The longer you have it, the better it becomes” (Catalogue 2011) by Paulina Perepelkin
- 15. Values •Accessible Cool •Vintage Authentic Style •All-American •Artsy, slightly quirky, ‘muted’ fun •Understated reliability •Classic designs, innovative delivery by Paulina Perepelkin
- 16. Sustaining Growth by Paulina Perepelkin
- 17. Pulling it All Together by Paulina Perepelkin
- 20. Store •Vintage Concept •Comfortable •Warm, Cozy •Well-lit •Pleasant by Paulina Perepelkin
- 28. Engaging • 2006 - Design Contest to develop artwork for the tin • 2006: Official NFL watches • Coffee Book • Collaborations With Sony Ericsson • 2008: Exhibit at American Museum of Advertising &Design • 2009: Photo Contest • 2009: Custom Gibson Guitar • 2011: Global Licensing Agreement with Karl Lagerfeld • 2011-2012 “Fossil Finds” Faux vintage collaborations by Paulina Perepelkin
- 29. Conclusion •A vintage style company with an innovative side •Positioned well to respond to ‘fast fashion’ •Challenges ahead - leadership change by Paulina Perepelkin
- 30. Sources & References • http://investing.businessweek.com/research/stocks/people/person.asp? personId=317041&ticker=FOSL • http://www.reuters.com/finance/stocks/companyProfile?rpc=66&symbol=FOSL.O • http://www.fossil.com/attachments/en_US/pressreleases/2008/062708.pdf • http://www.montrealgazette.com/business/Shaffer+Watchmakers+stocks+investors+radar+screens/78 17872/story.html • http://www.fossilglobal.com • http://www.utsandiego.com/uniontrib/20050108/news_1b8fossil.html by Paulina Perepelkin