Online sales help Fossil navigate COVID-19 challenges

Fossil has seen a growing percentage of its watch business shift to consumer direct sales while its wholesale business has declined. Company CEO Kosta Kartsotis said wholesale represented about 60 percent of Fossil's business four years ago and it currently stands at around 40 percent. “It’s on its way to 20% in pretty short order,” Mr. Kartsotis told analysts on Fossil's second quarter earnings call.