Founded in 1984, Fossil Group, Inc., popularly known as Fossil, is an American fashion designer and manufacturer. It was founded by Tom Kartsotis and is based in Richardson, Texas. The company is known for its trendy, retro-style watches and other fashion accessories such as bags, wallets, and jewelry.
Fossil also offers a wide range of products that has a wide appeal among both men and women, with most of its products being unisex. The company’s strategy is to focus on design, innovation, and value.
The company has been successful in positioning itself as a lifestyle brand and not just a watch company. It has managed to do this by collaborating with major fashion houses such as Michael Kors, Tory Burch, DKNY, and Marc Jacobs.
Fossil’s success can be attributed to its ability to stay relevant and appeal to its target market. However, some experts have questioned whether or not Fossil is a luxury brand.
That said, is Fossil considered a luxury brand? Stay tuned to know the answer!
Is Fossil A Luxury Brand?
Fossil is not a luxury brand despite its appeal and sophistication which often leads people to make that assumption. While most of its products, particularly its watches come with a high price tag, Fossil is classified as a mass-market brand. Fossil products are actually affordable to many people, which is the opposite of what luxury brands represent.
Here are the reasons why Fossil is not a luxury brand:
1. The Availability Fallacy
One of the main reasons people believe that Fossil is a luxury brand is because its products are not widely available. Unlike other mass-market brands, Fossil does not have many stores and its products can only be bought from specific retailers.
In reality, Fossil operates in a total of 364 locations including its authorized retailers that carry its products. It’s just that compared to other mass-marketed brands, Fossils leverages display ads to increase brand awareness through expert-crafted campaigns instead of TV commercials and ads.
2. The Quality Fallacy
Another reason why people believe that Fossil is a luxury brand is because of the quality of its products. Fossil watches, in particular, are well-made and often last for years.
However, just because a product is well-made does not make it a luxury item. In fact, despite the that many of Fossil’s products are quality-made, the materials used are not as high grade as what luxury brands use. That alone sets it apart from many luxury brands.
3. The Pricing Fallacy
People believe that Fossil is a luxury brand because of its pricing. As mentioned earlier, many of Fossil’s products come with a high price tag but it isn’t as high compared to many luxury items. For example, its watches can cost anywhere from $100 to $300, while the bags cost from $100 to $500 for both men’s and women’s lines.
These are clear evidence that the price range that Fossil offers is more affordable compared to the offerings of many luxury brands that could go beyond $1,000.
4. The Exclusivity Fallacy
Another reason people tend to think of Fossil as a luxury brand is because of its exclusivity. As mentioned, Fossil’s products are not widely available and can only be bought from specific retailers—and it does not heavily rely on advertisements.
This gives the impression that Fossil’s products are hard to find and exclusive. However, this is not the case. In fact, many of Fossil’s products are readily available online—including on its own website and other major retailers.
Luxury brands, on the other hand, are known for their exclusivity and high price tags that make them unattainable to most people, especially the new releases. They are also known for their quality, craftsmanship, and prestige. Fossil does not meet these criteria, which is why it is not considered to be an exclusive luxury brand.
5. The Brand Image Fallacy
Talking about branding, Fossil definitely has a sophisticated vibe for many of its products which make can make someone curious. And this leads to the misconception that the brand is a luxury one unless a person makes thorough research about it.
Fossil’s branding is not as sophisticated as that of luxury brands. In fact, its products are often geared towards a younger market.
6. The Materials Used Fallacy
People assume that Fossil is a luxury brand because of the materials used for its products. For example, its watches are often made with stainless steel, which gives them a sophisticated look and feel.
However, just because a product is made with good quality materials does not make it a luxury item. In fact, many of Fossil’s products are not made from the finest materials that luxury brands use.
Does Fossil Hold Value?
While Fossil products are actually good, in terms of the construction, pricing, and overall style, they do not hold value. This is because Fossil does not meet the criteria to hold the same value as luxury brands. In short, once a Fossil product is sold, the value depreciates. Also, reselling it doesn’t guarantee that you’ll the get the same or more money from it.
Frequently Asked Questions
What is Fossil brand known for?
Forssil is particularly known for its watches. Although it also sells other products such as other fashion accessories such as bags, wallets, and jewelry.
Are Fossil watches worth money?
In terms of quality, Fossil watches are actually good. However, they do not hold high value but it is a good brand if you want a watch to use for a long time.
Where are Fossil watches manufactured?
Fossil products are manufactured in China, while its design studio is in Biel, Switzerland, and distribution centers in Dallas, Germany, and Asia.