Inside Fossil's Dallas Headquarters
Inside Fossil's Dallas Headquarters
FEBRUARY 06, 2025
Several years ago, I had the unique opportunity to visit Fossil's headquarters in Dallas during the early days of smartwatch development. As someone developing apps for wearables at the time, I was particularly interested in their custom Android smartwatch project.
The tour through their facilities was fascinating, but what really caught my attention was getting to see the office of the famously private CEO, Kosta Kartsotis. And yes, the stories are true - there was indeed a mannequin sitting in his chair, complete with a striped tie, which I learned was often used as his stand-in for photo shoots.
What makes this visit particularly interesting is the unique culture at Fossil. The company's CEO, Kosta Kartsotis, is known for his unusual approach to leadership. Despite leading a major public company, he hasn't taken a salary, bonus, or stock options for many years. His reasoning? As stated in company proxy statements, he believes "his primary compensation is met by continuing to drive stock price growth."
The headquarters itself reflects this humble approach. Kartsotis's workspace is a small, glass-walled office sitting right in the middle of the building. It's a testament to their philosophy of reflecting a team rather than a single visionary. This approach dates back to 1993, when Fossil went public and made Forbes' list of 200 Best Small Companies in America at #3. Since then, both Kosta and his brother Tom (the founder who retired as chairman in 2010) have maintained their media-shy stance.
During my visit, I got to see firsthand how this philosophy translated into their approach to innovation. The Android smartwatch project I was there to discuss represented Fossil's adaptation to the changing landscape of wearable technology. It was fascinating to see a traditional watch company embracing digital transformation while maintaining their core identity.
The most memorable quote about Fossil's origins comes from Tom Kartsotis himself, who explained his motivation for starting the company in his garage: "I didn't want to be a 30-year-old ticket scalper." That straightforward, no-nonsense attitude permeated the company culture under Kosta's leadership.
Interestingly, last year marked the end of an era as Kosta Kartsotis was replaced by the board. His tenure was marked by a unique approach to leadership and fostering a highly creative environment that helped transform Fossil from a traditional watch company into a pioneer in the wearable technology space.
NO INK, NO SALARY, NO WORRIES
This would be a good place for a photo of the happy founding family. No such luck. Founder Tom Kartsotis, who retired as chairman in 2010, and brother Kosta Kartsotis, who's CEO, don't give media interviews about Fossil. At least they haven't since 1993. That's when Forbes put Fossil at No. 3 on its list of 200 Best Small Companies in America. It's also the year that Fossil went public, so there was extra incentive to talk up the company. Almost 20 years later, that remains the definitive first-person account of Fossil's roots. Even the Gale International Directory of Company Histories depends heavily on the Forbes piece. And the founder's explanation for his garage start-up is still the killer quote: "I didn't want to be a 30-year-old ticket scalper," he said. Kosta, 59, talks to analysts every quarter, and is a strong advocate at industry conferences, so it's not about being reclusive. But he and his brother always wanted the Fossil brand to reflect a team, not a single visionary. That humility is refreshing in an era of celebrity CEOs, and there's no arguing with the success. Here's another oddity: Kosta Kartsotis refuses to take a salary, bonus, or stock options, and that's been the case for many years. Because he doesn't grant interviews, we'll use the explanation from the proxy statement: "Mr. Kartsotis is one of the initial investors in the company and expressed his belief that his primary compensation is met by continuing to drive stock price growth." With 6.4 million shares, his stake was worth more than $400 million this summer. Reportedly, the CEO is accessible to employees, and his small glass-walled workspace sits in the middle of the new headquarters. The Dallas Morning News ran several photos of the place, but Kartsotis wasn't sitting in his office chair. A mannequin was the stand-in for the photo shoot, striped tie and all.
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