Fossil Outlet Launch in Hyderabad
Fossil India, subsidiary of global lifestyle giant Fossil Group and leaders in premium watches and accessories, today launched its new Fossil store in Hyderabad, its first in the city. The group forayed into stand-alone retail after receiving the FDI nod last year, and has rapidly expanded in prime locations across the country. The Hyderabad store opened at the up market Inorbit Mall and another store is in progress at the Forum Mall for launch later this year.
The store will serve as a one stop destination for all Fossil products. As a lifestyle destination, the store will provide customers the opportunity to discover exquisitely crafted merchandise in a modern and chic retail space. Product categories include signature lines of timepieces, eyewear, jewellery, and an extensive range of leather products for men and women, including handbags, work bags and wallets.
Mr. Vasant I Nangia, Managing Director, Fossil India Pvt. Ltd., said, "'With the launch of new exclusive Fossil Retail Store, we expand our presence in the fledgling single brand retail opportunity in India. Synonymous with classy, chic and elegance, Fossil products ooze character and stands out to make a lasting impression. Influenced by the world of fashion and diversifying culture, Fossil curates timepieces and accessories for everyday living which blend in irrespective of the time of day or occasion."
The store is especially designed to elevate the buying experience, and is committed to conveying Fossil's signature range of products and rich connotation to connoisseurs and enthusiasts. Fossil will cash on preferences for product with aspiration value, at relatively affordable price points and has the flexibility to pick from its global portfolio to cater Indian and in fact regional preferences.
"Fossil is generally known in India as a watch brand, whereas in fact it is complete lifestyle accessories brand. There's a big gap between the low-to-mid segment on the one end and luxury on the other. That's where the growth is going to be for us." Mr. Nangia added.
Fossil now has presence in over 500 multibrand stores across India through tie-ups with Helios, Ethos, Shopper's Stop, Lifestyle and other chains, as well as select retailers such as Kamal Watch Company and Ramesh Watch Company in the region. Besides, it has stitched strategic partnerships with select e-commerce players such as Amazon, Flipkart, Myntra and Jabong, to reach a larger pan-India audience.
About the company:
Fossil, Inc. (NASDAQ: FOSL) is a global company specializing in the design, innovation, and marketing of fashion lifestyle and accessory products. At the heart of Fossil's vision is a commitment to fostering creativity and delivering the best in design through the company's namesake FOSSIL brand and a portfolio of internationally recognized owned and licensed brands. The FOSSIL brand is rooted in authenticity and a distinctive modem-vintage design aesthetic. With nearly 500 stores worldwide and a strong global e-commerce business (www.fossil.com), Fossil is internationally known for its eclectic assortment of lifestyle and accessory items including watches, jewelry, handbags, and clothing. The company is constantly developing its multi-brand portfolio through its core competencies in innovative branding, world-class design, and dynamic global distribution.