Let’s not kid ourselves, one of the burning issues is a product that is not appealing to customers. Although I believe that there will always be buyers of traditional watches and that they have a lot of their advantages, they need to be adapted to modern customers. Not only do the watches need to be adjusted, but also other products as well.
Craft Brands was ill advised altogether. Why not just throw money in a wood chipper?
100 percent cost center. No ROI.
Fossil product S—S and we all know it. We got our asses handed to us with Greg’s amazing sell of wearables. What a joke those have been. This company is led by jackasses.
What happened to Chaps? is BMW still there?
Something tells me people will be told to leave and not to come back come Jan/Feb 2021
Everyone, we Should just leave Jan 1st 2021.
Totally agree with the profit margin increase comments. Every year we wait with baited breath to see how much more blood we have to squeeze from the product development stone. And every year it becomes harder to price things intelligently compared to the rest of the line. Customers definitely notice when a blah newness watch costs more than a more embellished style that has been in the line long before the latest PM% hike. It makes it look like we don’t know what we are doing to see price jumbles like this at retail.
And don’t get me started on when we had to cut perfectly good styles to define our brand “circles”—styles we immediately had to scramble to try to bring back because they were top volume drivers, but the direction from on high was they didn’t personally like it so they wanted to k–l it. You can define your circle all you want, but if a style is selling, it’s selling. You don’t really get to be picky about it when it’s a bread and butter style. The customer has clearly been voting for what they think your brand stands for every time you look at sell thru reports and you see the same old stale (to you, not the customer) styles in your top 10. They are there for a reason. Yes, innovate and try to keep expanding on your successes, but don’t throw the baby out with the bathwater just because the c suite exec of the week thinks a style is ugly.
@1woy+18qWEtve
So glad you brought this up. The constant increases in profit margins has prevented designers from being innovative, thinking outside the box, and severely limiting our design capabilities!
Fossil needs to stop raising the profit margins on products every year (which they have been doing for the past 5 or so years), this has resulted in cheapening the quality of the product and using cheaper factories which has resulted in cheaper construction...the customer does notice!
Lol. They can’t even make a pretty handbag or watch let alone one that people want.