Gunjan Batra, Hindustan Times
January 10, 2009
First Published: 16:29 IST(10/1/2009)
Last Updated: 18:29 IST(10/1/2009)
It’s probably one of those rare brands that has created a designer range of tins to hold its watches, tins that are as prized as the contents within.
Luxury brand Fossil offers an extensive line of fashion watches besides leather goods, belts, handbags, sunglasses, jewellery and apparel. It also offers watches under some of the most prestigious brands, including Adidas, Burberry, Callaway Golf, Diesel, DKNY, Emporio Armani and Marc by Marc Jacobs.
Gunjan Batra catches up with Mark Parker, Senior Vice President, Fossil. He talks about the brand and their plans for India.
Are you planning any Fossil stores in India?
Not at the moment.
What are the products that you will introduce in India first?
For the Indian market we are focusing on watches — Fossil, DKNY, Emporio Armani, Diesel, Burberry and Adidas. Also jewellery under Oyzterbay and leather goods and eyewear under Fossil.
What are the design trends for 2009 —with reference to jewellery and watches. <b1>
The overall trend for 2009 is a move towards vintage — watches that have a vintage aviation feel with lots of functionality and worn-in leathers with surface character. In terms of jewellery, its again inspired by shapes and styling from vintage objects.
What is the kind of jewellery that we can expect to see at a Fossil store?
As mentioned above, we do not have plans to launch Fossil stores in India at the present time. Fossil jewellery is on the backburner for now, as we are still researching what will work in India (which, as you know, is yet to accept steel and silver jewellery in a big way).
What has been the growth of the company in the last 5 years?
Fossil has grown tremendously over the last five years. It is present in 90 countries and the global turnover has grown from US $ 663 million in 2002 to US $ 1.4 billion in 2007.
What is the company's perception of India — with reference to fashion/luxury good/designer wear?
Fossil is of the view that the world is no longer isolated by markets. So appreciation of good design is growing rapidly.
The Indian demographic is well known, but very importantly, it fits perfectly with our brands — young, dynamic, great international designs, excellent value. The Indian consumer is aware, and hard to please. The success we are seeing already in India is amazing, which means we have hit the sweet spot.