Fossil bets big on India market

After getting approval for its single-brand FDI proposal, to set up a shop in India, Fossil

is looking at India as one of its top growing markets in the Asia-Pacific region. The company is set to showcase its exclusive range in the country as a leading consumer fashion accessories player in the world. Having set its eyes on the bridge-to-luxury segment, the company plans to launch its own line of leather accessories, jewellery and eyewear in addition to its entire range of timepieces. Keeping a relatively affordable price point for Indian consumers, it boasts of being flexible to customise its global product portfolio to suit Indian tastes.

Apart from Fossil, the company has also licensed brands like Zodiac, Burburry, Michael Kors, Tony Birch and Karl Lagerfeld among others. Fossil has just launched some of these brands in India and is working on the launch of Michael Kors. The company has plans to open two to three trial stores in the first quarter of 2014 with an initial focus on larger metros. Once the exclusive-brand outlet format is tried and tested, it will proceed to mini-metros. The company has a manufacturing unit in Himachal Pradesh where it makes watches for its Fossil and DKNY brands.