Fossil to invest USD6.3m to open 25 outlets in India

US-based watchmaker Fossil will invest up to INR40 crore (INR400 million, USD6.3m) to open 25 retail outlets in India by 2017 as it aims to reposition itself from a watch brand to a fashion lifestyle brand.

The company, known for its range of watches, will sell non-watch products such as leather bags for women and men, wallets, eye-wear and jewellery through its retail outlets in the country.

“We want to re-position Fossil from a watch brand to a fashion lifestyle brand. We will focus on developing non-watch categories. We will sell these products only through our retail stores. We plan to open 25 outlets by 2017 and will invest INR35-40 crore,” Fossil India Brand Head Sumit Ghosh told PTI.

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Posted on December 22, 2014, in #india, #retail. Bookmark the permalink. Leave a comment.

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