I think the rebrand was well done, it’s a beautiful aesthetic, the stores are appealing, everything looks real nice. It looks like it would slot right into the corner of a banana republic store. But that’s the problem- it appeals to the millennial consumer who’s maturing in a career and probably wants a movado, Rolex, lvmh, etc and associates Fossil with “the high school watch”. Fossil needs to lean into the younger generation and do some streetwear vibes. Collaborate with Kith, Salomon, Bodega, Haven, Dover street market, Todd Snyder, new balance, etc. Skagen would be perfect to develop some low key streetwear dark & stormy vibes, they’re already half way there with the lineup, it’s just not being marketed right. Come out with some tastefully ovetsized shirts / sweats with the Fossil logo big bright and center. Too much of the business is dependent on licensing for TJmaxx brands who have also fallen out of favor. Use some of the capital used in this layoff and build out a bo-b licensing and collaboration team. Ronnie Fieg could turn this ship around faster than any consultant. Get with the times and get streetwear, fashion movers and shakers on TikTok excited with some rarity and “drops”. Get fossils name to appeal to the next generation, cause going for a banana republic vibe ain’t gonna do it. Fossil is marketing and brand direction is stuck in 2005 and the people responsible for it should be the first to go. I can’t knock all the things that have been tried the last few years- doing something is always better than doing nothing. but let’s have a reality check in the market and turn this thing around! There’s so much value in the fossil name -even if it’s a “lower market”, just look at what Champion did to their brand the last decade as a case study. SAVE FOSSIL
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The better question: when are we going to lay off the Disney collabs? They are tired.
Disney and Wonka collaborations are absolutely not our salvation. It's time for a harsh dose of reality. The product just looks bad.
THIS!!!!
ROFL.
Yes! Great example! And look at all the collaboration they’ve done to regain relevance. I see on their website Beams, Roa, Thisneverthat, Satisfy, palace, musicians and others which are all huge names in streetwear, gen z fashion. (I have a sneaking suspicion our marketing / brand VPs have never even heard of these brands.)
Consumers have so many options and algorithms feeding them curated niche selections these days. We can can’t market like it’s 2005, legacy behemoth brands must maintain relevance by playing and collaborating amongst the sea of smaller trendier players and get on the algorithm feed of instagram, TikTok, and fashion newsfeeds. Figure out who is responsible for the collaboration program at Crocs and back a brinks truck up to poach them!
Stop neglecting the truth. It's already too F—-ing late. Our Leadership Teams are beyond useless.
Good point. Half dead brands can come back. Like crocs did.