COMPANY PROFILE -The Fossil Group Inc.
Business Sector :Fashion Accessories
Operating Geography :United States, North America, Global
About The Fossil Group Inc. :
The Fossil Group Inc. an American designer and stylist, was founded in 1984 by Tom Kartsotis. The business's main office is in Richardson, Texas. Fashion watches, jewellery, handbags, small leather goods, sunglasses, and belts are among the company's product offerings. It promotes and offers merchandise from several licenced brands, including Michael Kors, Diesel, and Emporio Armani. Under the Zodiac, Michele, Misfit, Relic, Fossil, and Skagen brand names, Fossil offers products. Additionally, the business makes collectables, some of which are inspired by well-known movies or pop culture figures. The products are marketed by Fossil through point-of-sale merchandise displays, retail stores, e-commerce portals, digital advertising, catalogues, and print media, as well as through speciality watch and jewellery shops, mass-market retailers, company-owned retail and outlet stores, and department stores around the world. A limited-edition capsule collection of upbeat accessories was revealed by Fossil in May 2022 in collaboration with SmileyR.
The USP of Fossil Group, Inc. lies in it having an unrivalled level of a worldwide presence with 500+ company-owned outlets spread across 3 global regions in about 150 countries and its selection of old and classic items. The mission statement of the company reads, "The Fossil Group of Companies is dedicated to our clients' successes by providing innovative solutions, designing and safely constructing the highest quality facilities on schedule and with integrity, leadership and skill".
The Fossil Group Inc. Revenue :
US$ 1,870 million- FY ending January 2021 (y-o-y increase 15.9%)
US$ 1,613 million - FY ending January 2020
Competitive Analysis of The Fossil Group Inc.
The SWOT analysis for The Fossil Group Inc. is presented below in a matrix followed by the detailed analysis report:
Strengths | Weaknesses |
1. Strong distribution network increases market reach and enhances competitiveness
2. Fossil Group’s wider geographical presence allows it to capture major markets across the globe and increase market share
3. Diversified product portfolio mitigates the risks and helps in product differentiation
| 1. Lawsuits filed against Fossil Group may impact its profitability and damage its reputation
2. Declining operating income and net working capital can severely affect Fossil Group’s operations
|
Opportunities | Threats |
1. Strategic expansion is possible as global fashion accessories market is expected to grow at a substantial rate
2. Growing global online retail market will benefit Fossil Group’s business
3. New product introductions can help to serve diverse markets efficiently
| 1. Changing consumer behavior, can hamper growth opportunities for Fossil Group
2. Fluctuations in foreign exchange rates can affect the company’s profitability
3. Intense competition from various business types can affect Fossil Group’s market share
|
The Fossil Group Inc. SWOT and PESTLE Analysis PDF Report is a custom report and will be delivered to your email inbox within 2 business days from purchase.
Detailed SWOT Analysis of The Fossil Group Inc.
Strength
1. Strong distribution network increases market reach and enhances competitiveness: Fossil has a solid distribution channel that allows it to easily meet its storage needs. Through 23 Company-owned overseas sales subsidiaries and a network of roughly 75 independent distributors, the Company's products are marketed through department stores, specialty retail stores, specialty watch and jewelry stores in the United States and in approximately 150 countries across the world. The Company's products are also sold in approximately 600 Company-owned and operated retail stores, as well as through its international e-commerce websites and its U.S. e-commerce website. This business strategy decreases the company's reliance on third-party logistics providers. It also reduces the company's running expenditures, such as selling, general, and administrative expenses.
The remaining section under "Strength" is available only in the 'Complete Report' on purchase.
Weakness
This section is available only in the 'Complete Report' on purchase.
Opportunity
This section is available only in the 'Complete Report' on purchase.
Threat
This section is available only in the 'Complete Report' on purchase.
The PESTLE analysis for The Fossil Group Inc is presented below in a table followed by the detailed analysis report:
Political | Economical |
1. US government laws on ecommerce at local, state, and federal levels will impact retail business.
2. US government’s policies on improving cybersecurity will affect business
| 1. Fashion accessories market is expected to grow at a substantial rate.
2. Global ultra-high-net-worth population to grow further will positively impact Fossil’s business
3. Raw material shortages will affect the production costs
|
Social | Technological |
1. Consumers increasingly opting to shop online will open opportunities for Fossil’s online retail growth
2. Changing consumer preferences towards fashion accessories leading brands to launch new products
3. Consumers in the United States are altering their shopping habits in response to health and safety concerns.
| 1. Strong focus on digital transformation will optimize business operations
2. Adoption of Artificial Intelligence to enhance competitiveness
|
Legal | Environmental |
1. Lawsuits filed against Fossil Group may impact its profitability and damage its reputation
2. Need to comply with country specific regulation will affect Fossil Group’s business opportunities
| 1. Heavy focus on making sustainable watches and accessories
2. Strong focus on using recyclable packaging materials
3. Attention to reducing waste by developing product take back program
|
The Fossil Group Inc. SWOT and PESTLE Analysis PDF Report is a custom report and will be delivered to your email inbox within 2 business days from purchase.
Detailed Pestle Analysis of The Fossil Group Inc.
Political
This section is available only in the 'Complete Report' on purchase.
Economic
This section is available only in the 'Complete Report' on purchase.
Social
This section is available only in the 'Complete Report' on purchase.
Technological
This section is available only in the 'Complete Report' on purchase.
Legal
This section is available only in the 'Complete Report' on purchase.
Environmental
1. Heavy focus on making sustainable watches and accessories: Materials and manufacturing processes are at the heart of creating the world's most environmentally friendly watches and accessories. The pro-planet criteria used by Fossil Group guide it in incorporating more sustainable materials into every product, putting it on track to have a net positive influence on the environment. By 2025, Fossil Group hopes to have all of its products meet pro-planet criteria. The pro-planet logo will be given to products that meet the standards. With increased global demand for leather, the industry has made tremendous progress in improving age-old practices that have a negative impact on the environment. Litehide, for example, is leather that has undergone resource-efficient raw materials processing, resulting in significant reductions in water use, wastewater pollution, CO2 emissions, and waste.
The remaining section under "Environmental" is available only in the 'Complete Report' on purchase.
Major Brands :
- Fossil
- Relic
- Michele
- Misfit
- Zodiac
- Skagen
- WSI
The Fossil Group Inc. SWOT and PESTLE Analysis PDF Report is a custom report and will be delivered to your email inbox within 2 business days from purchase.
TABLE OF CONTENTS
DELIVERY AND FORMAT
WHY CHOOSE US?
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Check Out Analysis of Other Relevant Companies
References used in The Fossil Group Inc. SWOT & PESTLE Analysis Report
1. Annual Report - https://www.fossilgroup.com/wp-content/uploads/2022/04/VIEW_Annual-Report-for-2021.pdf
2. When timeless design meets the power of innovation, everything is possible. - https://www.fossilgroup.com/brands/
3. U.S. Implementation of the OECD E-Commerce Guidelines - https://www.ftc.gov/news-events/news/speeches/us-implementation-oecd-e-commerce-guidelines
4. Fashion Accessories Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027) - https://www.researchandmarkets.com/reports/4622768/fashion-accessories-market-growth-trends
The detailed complete set of references are available on request in the 'Complete report' on purchase.
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The Fossil Group Inc. SWOT and PESTLE analysis has been conducted by Ipsha Bhattacharya and reviewed by senior analysts from Barakaat Consulting.
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