Kosta kartsotis biography of rory

Fossil Group

American designer and manufacturer of accessories

For the astronomical classification, notice Galaxy group §&#;Fossil Groups.

Fossil Organization, Inc., is an American fashion design and manufacturer founded in by Tom Kartsotis and based in Richardson, Texas.

Tom Kartsotis is the founder and owner of the billion dollar survey making company, Fossil. He is also the founder of the brand management firm, Bedrock Manufacturing Co. In he created the brand Fossil and started selling cheap fashion watches in Hong Kong. His brother, Kosta Kartsotis, offered his assistance in getting his watches into the department stores.

Their brands include Fossil, Relic, Michele Watch, Skagen Denmark, Misfit, WSI, and Zodiac Watches. Fossil also makes licensed accessories for brands such as BMW, Puma, Emporio Armani, Michael Kors, DKNY, Diesel, Kate Spade Fresh York, Tory Burch, Chaps, and Armani Exchange.[4]

Kosta Kartsotis, brother of Tom Kartsotis and CEO, owns approximately % of Fossil stock.

The company name is the nickname the brothers gave their father.[5]

Company history

Fossil was founded in as Overseas Products International by Tom Kartsotis, a former Texas A&M University student living in Dallas from a suggestion by his older brother, Kosta Kartsotis, a merchandising executive at Sanger-Harris.

Kosta told his younger brother about the potential large profits that could be made in importing retail goods made in the Far East, specifically in importing moderately-priced fashion watches.[1] Their main product was fashion watches with a retro look.

Kosta N. Kartsotis is Chairman of the Board, Chief Executive Officer of the Company. Mr. Kartsotis has served as our Principal Executive Ofcer since October and Chairman of the Board since May

In , they introduced leather goods under the Fossil brand, and the Relic line of watches.

Fossil had its initial public offering in [1][6]

Zodiac Watches was a Swiss brand that had been operating since when Fossil acquired it from Genender International in for $ million.[7] Fossil's desire to establish a Swiss presence led to the purchase of the Zodiac Watch brand and a complete retooling of that line to reflect a retro latest s style in a higher end watch.

The purchase of Michele Watch completed the cycle by offering a high-end Swiss watch with a designer flair.[citation needed]

In September , Fossil was accused of infringing a patent owned by Financial Innovations Systems, LLC, in a lawsuit filed in the Northern District of Texas.

The case was settled for an undisclosed amount and dismissed shortly thereafter.[8]

The Watch Station International chain was purchased from Luxottica/Sunglass Hut in December [9][10]

Fossil has design studios in Biel, Switzerland, close to Rolex as well as manufacturing facilities in China and distribution centers in Dallas, Germany, and Asia.[11]

In , Fossil, Inc.

agreed to purchase Skagen Designs and some of its partners for approximately $ million in cash and , Fossil shares.

Fossil Group, Inc. The company name is the nickname the brothers gave their father. Kosta told his younger brother about the potential huge profits that could be made in importing retail goods made in the Far Eastspecifically in importing moderately-priced fashion watches. Inthey introduced leather goods under the Fossil brand, and the Relic line of watches.

The total value paid by Fossil would be approximately $ million.[12][13]

In premature , Fossil introduced their upscale and more expensive "Fossil Swiss" line of watches which are made in Switzerland.[14][15]

In November , Fossil acquired Misfit for $ million, with plans to incorporate Misfit's technology into traditional-looking watches.[16]

In , the company cut their number of employees from 10, to 7,[17]

In , Fossil Community appointed Lisa Marie Pillette as Senior Vice President and Head Marketing Officer.[18]

In January , the company announced that it would leave the smartwatch business.

[19]

Licensed business

Original Fossil logo (–)

Second Fossil logo (–)

Fossil has had financial success with its own brands and this success has led a number of deals for licensed watch lines.

In , Fossil collaborated with designer Philippe Starck to create the Starck with Fossil watch collection. The collection features ultra-modern designs and unique movements. Other licensed observe lines that Fossil designs, manufactures, and distributes include Burberry, DKNY, Emporio Armani, Armani Exchange, Columbia Sportswear, Diesel, Frank Gehry, Karl Lagerfeld, Tory Burch, Kate Spade, Michael Kors, Callaway Golf, Davis Cup, Marc by Marc Jacobs, Skagen Designs, Michele, and Adidas.

When referencing Fossil's watch lines, they are generally regarded as a "manufacturer"; Fossil also designs and manufactures their own movements under the Fossil Twist Line.[20]

Special products

In addition, the company produces collectibles, some of which are based on popular films or pop culture characters.

Previous designs include: Superman; Batman; Wonder Woman; Elvis Presley; Pirates of the Caribbean; Flash; Green Lantern; Snoopy, Pokémon; Star Wars; Chronicles of Narnia; Cars; The Matrix and Harry Potter.

In , the company released the "Fossil Wrist PDA" wristwatch computer which is a tiny Palm OS-based PDA worn like a watch.

Fossil was founded in as Overseas Products International by Tom Kartsotis, a former Texas A&M University student living in Dallas from a suggestion by his older brother, Kosta Kartsotis, a merchandising executive at Sanger-Harris.

In , Fossil released a Caller ID watch.[21]

In , Fossil teamed up with the National Football League in the United States to make the official watch collection for each team.[22] Fossil also caters to special markets that seek to customize products.[23]

Websites

Fossil Groups' e-commerce website, , has a total of stores as of the fiscal year review that cut across the world such as Fossil UK, Fossil USA, Fossil India, and even in Africa within nations like Fossil South Africa, and Fossil Nigeria.

Awards

Fossil won awards for "Most Effective Use of Online Creative" and "Best of Show" awards for the 6th Annual DFWIMA Excellence in Interactive Marketing (in ).[24]

Fossil has also been voted one of the Top Leading Companies to work for in the U.K in and [25]

In , Fossil won Fashion Tech Collection of the Year for their connected designer smartwatches and jewellery.[26] Their analog smartwatches and connected jewellery span across their licensed brands such as Diesel, Emporio Armani, Michael Kors, and Kate Spade.[27]

References

  1. ^ abc"Fossil Company History", Funding Universe
  2. ^"Fossil Annual Report"(PDF).

    Archived from the original(PDF) on Retrieved

  3. ^ abcdeFossil Group Financial Statements(PDF), Fossil Group, 27 February , retrieved 28 February
  4. ^"Fossil Community - Brands".

    Retrieved

  5. ^McHugh, Josh, "Wrist-Top Revolution: How fashion watchmaker Fossil teamed up with Microsoft and Palm to change the face of wearable computing", Wired, Issue , April
  6. ^Wood, Sean, "Watchmaker Plans IPO to Fund Acquisitions, Expansion", Dallas Business Journal, February 7, , p.

    ExecAtlas delivers executive intelligence and association mapping for more than three million executives. Kosta N. Kartsotis joined the Company in He has been a director of the Company since

    3.

  7. ^"QUARTERLY Inform PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF For the quarterly period ended: October 6, "
  8. ^"Docket: Defendant: Fossil Inc"
  9. ^"Form K". . Retrieved
  10. ^"Canadian Trademarks Details: Monitor STATION INTERNATIONAL — - Canadian Trademarks Database - Intellectual property and - Canadian Intellectual Property Office - Innovation, Science and Economic Development Canada".
  11. ^Halkias, Maria, "Fossil watches empire grow: Popular firm marks 20th year", The Dallas Morning News, January 8,
  12. ^Thompson, Steven R., "Fossil to get accessory maker for $M", Dallas Business Journal, Tuesday, January 10,
  13. ^"Fossil to acquire accessory maker for $M", Yahoo!

    Finance, Zacks Equity Research, Wed, January 11,

  14. ^"Introducing Fossil Swiss", Fossil corporate blog, February
  15. ^Steigrad, Alexandra, "Fossil Adds Swiss Men's Watches", Women's Wear Daily, February 7,
  16. ^"Fossil acquires wearable maker Misfit for $ million", The Verge, November 12,
  17. ^"What happened to Fossil watches".

    CNBC. Retrieved

  18. ^"FOSSIL Organization, INC. ANNOUNCES THE APPOINTMENT OF LISA MARIE PILLETTE AS Principal MARKETING OFFICER".

    Kosta N Kartsotis, Fossil Group Inc: Profile and Biography: Kosta N Kartsotis is Former Chairman/CEO at Fossil Community Inc. See Kosta N Kartsotis's compensation, career history, education, & memberships.

    Yahoo! Finance. Retrieved 16 June

  19. ^Song, Victoria (). "Fossil is quitting smartwatches". The Verge. Retrieved
  20. ^FOSSIL Watches, Handbags, Wallets & Clothing: About
  21. ^Segan, Sascha, "Fossil To Sell Caller ID Watch"Archived at the Wayback Machine, PC Magazine, September 28,
  22. ^"Fossil to make NFL watch".

  23. ^"Fossil Particular Markets Division"Archived at the Wayback Machine, Fossil corporate
  24. ^"Excellence in Interactive Marketing Awards (EIMA)"Archived at the Wayback Machine, DFW Dallas-Fort Worth Interactive Marketing Association
  25. ^"Accreditation".

    Best Companies.

    Owner of one of the most popular brand names in the United States, Fossil, Inc. Fossil grew quickly during the s, propelled by the retrospective designs of its watches, which were inspired by magazine advertisements from the s, s, and s. After recording phenomenal achievement with the sale of its watches in the United States, the company entered international markets and diversified its product line to include leather goods and sunglasses during the s. In addition to marketing merchandise under the Fossil brand name, the company also marketed a line of less expensive fashion watches under the Relic label.

    Retrieved

  26. ^"Wareable Tech Awards All the winners revealed". Wareable. Retrieved
  27. ^"Wareable Tech Awards All the winners revealed". 27 October Retrieved October 12,

Further reading

  • "50 WEALTHIEST GREEKS IN AMERICA: 26 — KOSTA & TOM KARTSOTIS — $ MILLION — WATCHES & LEATHER ACCESSORIES"Archived at the Wayback Machine, The National Herald, February 19,
  • "Fossil – a Vintage Plan that Brought Success"Archived at the Wayback Machine, Watchalyzer Watches Magazine.
  • Barrett, William P., "Selling Nostalgia and Whimsy", Forbes, November 8, , p.&#;
  • Meadus, Amanda, "Fossil Falters but Watches Tick On", WWD, December 11, , p.&#;8.
  • Strandberg, Keith W., "Fossil, the Great American Observe Company", Europa Star, 3 February

External links

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