What strategy could save Fossil from further sinking, that is, what would save our jobs? I see here a comparison with Crocks that someone mentioned, as well as the mentions of business strategies of Citizen, Seiko....
I think the biggest problem is that management is focused on short-term goals, instead of having a vision for the future of this company.
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Was totally tracking with fhfhf post until the Croc’s love fest began.
Numbers dont lie..for sure Fossil had to cut costs also because it became bloated as they thought they would reach 5bn in revenue in 2016 before the Apple Watch changed everything...if you look at few years back we were making north of 2bn in revenue with less than 900mn of operaring costs...any consumer company with a gross margin of barely 50% should spend max 40-42% in operating costs and we have been north of 50% in spite of how many NWF they put out....something gotta give.
HOWEVER, the problem here is not about accepting that costs had to come down, the problem is that mgmt has been incapable of finding ways to revitalize sales, and havent been able to eleborate and then stick to a consistent product strategy. And this is in spite of many trends that actually turned in our favor and some were already mentioned but just to count a few 1) 90s fashion coming back in big way 2) "ugly" fashion hitting younger consumers ( Crocs , which btw would be a better license than...diesel or others) 3) athlesuire (where is the Fossil Sport? Puma?) 4) smartwatches, which like it or not are here to stay and even if we threw a lot of money to them, it was inconsistent ineffective and largely a waste
@1zkc+1aJykMvK seems you work management
and you are the one who dont see the reality at Fossil?
Layoffs have been happening in past 5 years at least and nothing has been changed for good, any long term focus or investment they mentioned management has never stick to it as the focus and strategy change every year!
@6xle+1aC416qo explain it very well in the post.
Also what management say during Huddles are only words in a nice powerpoint presentation, its only a show of 1hour of bs.
Rebranding, change the name for starters.
I think the poster is a poser ex-employee looking to create issues that don’t exist. Either that, or it’s an employee that is so disconnected from what’s really going on that he or she needs to get a life. Anyone that goes to huddles understands our long-term focus and the investments that support that direction.