Someone in this forum was trying to make excuses for Fossil bad management by saying that all its peers are having the same issues...well that is simply not true. Movado is actually doing well, they are profitable, have raised guidance and their shares have fully rebounded. TIMEX is also thriving and have successfully focussed on fewer more iconic skus and are generally respected by the watch community. The Japanese brands from Citizen to Seiko to Casio are also doing pretty well and have renewed their offering and brand relevance. Where is Fossil in all this??? STUCK NOWHERE.
19 replies (most recent on top)
@5dxi+1aC416qo You're talking about the Owler list? The same list that shows Fossil and Skagen as Fossil's competitors as well as Morgan Stanley...
I was going to say Owler shouldn't be trusted, but maybe they have a point.
Anyone who tries to mKe apologies for our management team is either crazy...or works for management. Why shouldnt i consider Timex a peer??? They sell watches at the same price points as Fossil brands, of course they are...and look at what they are doing...great creativity...revisiting their iconic SKUs, advancing the brand and celebrating its history...it is a pretty basic but effective playbook and we cannot even stick with a product strategy for more than a quarter...we make big push in something and then it s gone and irrelevant before people notice...come on this is bs , demand for watches is actually very healthy and vibrant, with expensive brands ever more out of reach but a lot of room to satisfy demand for good design and fairly prices brands...Fossil wasted yet another opportunity...spend 30 minutes on Instagram to realize how much people care about watches still and how little we have done to capture that interest compared to many others. New management is what we need, or to be sold to a better company.
@6els+1aC416qo....@managementsxcks
😎😎...clearly I was defending my prior response. But really, it's not that serious. 😎😎
i would be curious for someone here to answer this simple question...how in a severely declining market can a company that sells largely undifferentiated value products (and always has), mostly through retail locations, survive except by cutting aggressively store locations, people and rushing to move as much as it can to digital channels and internationally (ie what our mgmt is doing)?
@6jbf+1aC416qo Chill out, you are taking this too personal, the mayority here knows clearly the company is dying as you can see in the thread.
@6vqq+1aC416qo yes I READ your post....at any rate I wasn't particularly speaking to the ONE BRAND that's fairing well in APAC. MY comment is inclusive of the majority of Fossil products....in the long run. The financials have always indicated that Fossil products fair better in the foreign markets.
Ugh....common Fossil employee attitude...indicative of the environment created by those that shouldn't be in management.
@6bet+1aC416qo, please...re read the comment...
only one brand....
I believe you know, this wont be good for business...
@6rsb+1aC416qo....ummmm, well considering the watches are produced in the Asia Pacific area, I'm pretty sure they are...in your words.... "performing well in APAC" 🙄
Among all "Licensed" brands there is only one that is performing well especially in Apac, without this brand, Fossil will be out.
Since the traditional watch is becoming more and more obsolete, what brand in their right mind would enter into a Licensing agreement with a product that honestly doesn't even help them to breakeven with such an agreement!
And hooooowwww many smartwatches does one person need! Personally I wear only one and switch bands if I'm going for "fashion", I just switch up the bands..... but only occasionally.
@5zmr+1aC416qo....PLEASE! The stores were closing WAY before Covid.
@managementsxcks... EXACTLY!!!
Plus no one I know has readily run out and bought anything 'Fossil' since the mid 90's. And trust me. the "Licensed" brands aren't fairing very well either unless the brands being licensed are popular as well.
@5zmr+1aC416qo if isnt it correct to compare Fossil to either Movado and Timex, then which company should be the correct competitor?
Just type "fossil watches competitors" and there is a beautiful list showing up.
The licenses Fossil is having now, sooner or later will be gone to the competitors...
Also,please... the problem from this company was there already before covid!
Dont be like top management that are stuck already on the 90s and already lost track and sense what is happening outside, and just use any lame excuse to justify the bad results...
Fossil will only change with a proper management team who are willing to make a BIG CHANGE, but before this happen 90％ of Top Management needs to be out!
I dont think it is correct to compare Fossil to either Movado and Timex , which in any case have been facing headwinds just the same...both are much smaller businesses in terms of revenue scale, do not have as many licenses and, importantly, have no retail presence nor sell other products than watches. With all the pressure in physical retail channel, Fossil has suffered much more and has consequently need to lay off many more people largely because the times have changed...this forum attracts mostly aggrieved employees in the US which has been the market most affected by lay-offs and reduction in retail. The aggrievance is justified but i dont think Fossil had that many alternatives even when we compare its performance to those of the likes of Movado and Timex. This being said i personally think that the company will return to a healthy stride and profitable in the next 12 months as the economy reopens, many stores were closed during COVID and will not reopen and the market for both smartwatches and traditional watches is finding a new balance.
@lky+1aC416qo couldn’t have said what most of us are thinking any better!
Perhaps they should paint another mural on the building for a craft brand that will go nowhere
@tjk+1aC416qo The data you cited for your dissenting opinion is astounding.
You are fake news.
Apparently they think an extremely overpriced cactus plant bag will save the company!!!