Goodbye to Fossil, this famous Texan brand abandons 50 stores in different U.S. cities

The fashion industry in the United States is constantly evolving, and brands are working harder than ever to stay afloat in an increasingly competitive market.

Now, a major shake-up is making waves in the sector—Fossil, the iconic Texas-based brand known for its watches, handbags, and accessories, has announced plans to scale back its physical retail presence.

The company reported that fourth quarter worldwide net sales were $342 million - down 19%, with sales declines across all regions and all channels.

In a strategic move to navigate new challenges, Fossil has announced plans to close 50 stores across various locations nationwide.

Fossil reshapes its US presence with nationwide store closures

Headquartered in Richardson, Texas, Fossil has announced a significant restructuring, signaling more than just a shift in store numbers.

The iconic Texas-based brand is scaling back its US footprint, closing approximately 20% of its stores globally. While Fossil has not disclosed the exact locations that will shutter permanently, reports suggest the closures will have a direct impact on major retail hubs like Houston—particularly in shopping centers such as The Galleria and Memorial City Mall, where Fossil has maintained a strong presence.

This restructuring is part of a broader strategy to refocus Fossil’s business model, with several key decisions shaping the company’s next chapter:

These changes underscore Fossil’s efforts to stay competitive in a rapidly evolving retail landscape, adapting to consumer preferences and market trends.

Fossil phases out smartwatch line

One of the company’s most significant strategic shifts has been its exit from the smartwatch market—once a promising venture that ultimately lost momentum. In early 2024, Fossil officially discontinued its smartwatch division, opting for a clearer and less risky path forward.

Fossil pulls the shutter down on 50 stores

As part of its transformation, the Texas-based brand is not only closing 50 stores but is also making a strong push to reconnect with younger generations.

To achieve this, Fossil is taking a creative leap by launching a limited-edition collection in collaboration with Minecraft, the globally popular video game. The exclusive line features watches, a wallet, and a bracelet inspired by the game’s iconic Creepers, positioning the brand to resonate with a digitally savvy, youth-driven audience.

Fossil’s CEO confident in long-term growth strategy

Recently-appointed CEO Franco Fogliato has expressed strong confidence in the company’s direction, stating, “Our recovery plan is designed to drive sustainable, profitable growth in the long run.”

With a well-balanced mix of seasoned brand veterans and fresh talent bringing new ideas, Fossil is gearing up to write its next chapter, aiming for a revitalized future in the ever-evolving fashion and retail landscape.

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