As reported today, "Fossil has a number of launches coming, with products that have increased functionality and other benefits, according to Chief Executive Kosta Kartsotis. The company is keeping hope alive for the latter part of the year."
4 replies (most recent on top)
HAHA! Yeah! S--- it IT! Your sh*tty and underhanded replacement wasn't an indicator of the death of Fossil's culture at all! Get of your freaking high horse you dummies!
Folks to be fair even though we all know that IT management s--- in this organization in ALL levels, especially at regional level, however the down fall of the company is not caused by IT alone for sure. The lack of self knowledge of Fossil as overall has led to where the company is today. The existing group of to management has been entirely changed except for KK himself. They might have their own capacities but they don't know what Fossil as a brand stands for. Once the culture is lost, there is nothing more can be produced. It's becoming product focused rather than brand focused. This is certainly wrong as produced is easily replaceable but Brand loyalty is not.
Wrong moves for the company rather spending 26 million UsD to pay McKinsey and let go employees for NWF that didn't even work, instead of investing in talents, building capabilities and loyalties.
Wrong moves for the company to acquire brands and not developing them properly, causing 407 million good will impairment cost in the quarter.
Wrong moves for the company to instead of building marketing strategy and distribution channels to expand their wearable products, they are dumping the products to market at deep discounts, cash incentives, which is absolutely short term.
Wrong moves to follow trend, instead of setting own position. What to expect?
Whomever keeps posting here about this being to blame on IT is crazy. No one gives a F*** about IT outside of the company. IT support doesn't drive business into stores. IT support doesn't design crappy product. Sorry IT, get off your high horse no one cares.
This is what a death spiral looks and feels like! Thanks IT Leadership (or lack there of)!