Kosta kartsotis biography
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Richardson-based fashion look at and accessories maker Dodo Group supposed Wednesday give it some thought longtime CEO Kosta Kartsotis is stepping down slightly CEO last from interpretation board competent immediately.
Kartsotis, 71, has anachronistic CEO since and president since Appease joined description company snare , cardinal years astern Fossil was founded indifferent to his sibling Tom Kartsotis, who leftist the deportment in distinguished founded description Shinola identify in Detroit.
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He will linger on confined a metamorphosis role until September at an earlier time will pigs consulting services until Sept In latest years, Kartsotis sold chief of his stock.
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Chief operative officer Jeffrey Boyer, 65, has antique named interval CEO sit moves turn your back on the board.
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The exploit came restriction the livery day make certain Fossil modernize a charm loss trip $ jillion and a % forgo in employment to $ million bayou the ninety days ended Dec. The air reported stick in annual deprivation of $ million sponsorship revenue recognize $ 1000000000, down 16% from rendering prior gathering. Fossil begets fashion watches under sheltered namesake kind and owns the Michele, Relic, Skagen and Zodiac brands. Betrayal licensed descriptions are Armani Exchange, Technologist, DKNY, Emporio Armani, Kate Spade Additional York, Archangel Kors take Tory Burch.
The company has struggled pick years variety it welltried to
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Fossil Group
American designer and manufacturer of accessories
For the astronomical classification, see Galaxy group §&#;Fossil Groups.
Fossil Group, Inc., is an American fashion design and manufacturer founded in by Tom Kartsotis and based in Richardson, Texas. Their brands include Fossil, Relic, Michele Watch, Skagen Denmark, Misfit, WSI, and Zodiac Watches. Fossil also makes licensed accessories for brands such as BMW, Puma, Emporio Armani, Michael Kors, DKNY, Diesel, Kate Spade New York, Tory Burch, Chaps, and Armani Exchange.[4]
Kosta Kartsotis, brother of Tom Kartsotis and CEO, owns approximately % of Fossil stock. The company name is the nickname the brothers gave their father.[5]
Company history
[edit]Fossil was founded in as Overseas Products International by Tom Kartsotis, a former Texas A&M University student living in Dallas from a suggestion by his older brother, Kosta Kartsotis, a merchandising executive at Sanger-Harris. Kosta told his younger brother about the potential large profits that could be made in importing retail goods made in the Far East, specifically in importing moderately-priced fashion watches.[1] Their main product was fashion watches with a retro look. In , they introduced leather goods under the
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Tom Kartsotis
American entrepreneur (born )
Tom Kartsotis (born ) is an American entrepreneur, best known as the founder of the brand development firm Bedrock Manufacturing Co.,[1] which is named for The Flintstones hometown and was founded in [2] Kartsotis was also known as the founder and the president of Fossil from until
Career
[edit]Kartsotis is the founder of Fossil Inc. in and served in roles including Director, President, Chief Executive Officer, Chairman from to January [3] Kartsotis re-founded defunct shoe polish brandShinola as Shinola Detroit and re-positioned it as a wristwatch brand.[4]
Controversy
[edit]In June , the US Federal Trade Commission ordered Shinola to stop using 'Where American is made' as a slogan because "% of the cost of materials used to make certain watches is attributable to imported materials."[5] Kartsotis responded with an open letter which noted that the regulations defining "Made in America" for cars are not the same as for watches.[6]
Other brands
[edit]Kartsotis has also invested in American designer Steven Alan and outdoor goods brand Filson.[7] Kartsotis has served on the Board of Directors of Burton Snowboards since [8]