Fossil Group, Inc.

Company is a design, innovation, and distribution company specializing in consumer fashion accessories. Its products include watches, jewelry, handbags, small leather goods, belts, and sunglasses. The company designs, develops, markets, and distributes products under its owned brands FOSSIL, SKAGEN, MICHELE, RELIC, and ZODIAC, and licensed brands ARMANI EXCHANGE, DIESEL, EMPORIO ARMANI, MICHAEL KORS, SKECHERS, and TORY BURCH. This range of accessory products, brands, distribution channels, and price points allows the company to target style-conscious consumers globally across a wide age spectrum. In September 2024, Franco Fogliato was appointed Chief Executive Officer and a member of the Board of Directors. The company implemented a Turnaround Plan focused on three key areas: refocusing on its core, rightsizing its cost structure, and strengthening its balance sheet. Refocusing on the core involved building a brand-led and consumer-focused operating model, returning to core businesses with a renewed focus on traditional watches, improving go-to-market execution, launching a new FOSSIL brand platform, leveraging major licensed brands, optimizing its wholesale global footprint, and driving channel profitability. Rightsizing the cost structure aligned it with the new strategy. In fiscal 2025, the company achieved approximately $100 million in selling, general and administrative (SG&A) cost savings compared to fiscal 2024, through initiatives such as a corporate workforce reduction, reduced costs from transitioning to a distributor model in certain smaller international markets, and closing 49 underperforming retail stores. Strengthening the balance sheet involved monetizing non-core assets, improving working capital, and bolstering liquidity.