Fossil Group, Inc..
FOSL.US | Manufacture of jewellery and related articles
Fossil Group, Inc. designs, develops, markets, and distributes consumer fashion accessories. The company's product offerings include a wide range of fashion watches, jewelry, handbags, small leather goods, belts, and eyewear. Fossil Group markets its products under a portfolio of proprietary and lic...Show More
Better Health for All
-10
Fossil Group's core products, fashion accessories, have no significant positive or negative health impact, and the company generates no revenue from products with direct health harms.
1
The company does not offer health-related products or services, nor does it engage in activities related to pharmaceuticals, food, addiction, or clinical trials, making these KPIs not applicable.
2
Fossil Group mentions mental health resources (EAP benefit) and wellness initiatives for employees, indicating basic recognition but limited practical support, aligning with a score of -80.
3
The company's HERproject initiative provides workplace-based education in women's health, nutrition, and family planning to over 250,000 women in its global supply chain, which constitutes substantial health education with broad reach, aligning with a score of -60.
4
Fair Money & Economic Opportunity
0
No evidence available to assess Fossil Group, Inc. on Fair Money & Economic Opportunity.
Fair Pay & Worker Respect
0
No specific quantitative data was found across the provided articles for any of the KPIs related to Fair Pay & Worker Respect for Fossil Group, Inc. While some articles mentioned general employee feedback or policy commitments, they lacked the concrete numbers, percentages, or ratios required by the rubric's quantitative thresholds. Information regarding a UK subsidiary's gender pay gap was excluded as it did not explicitly state company-wide scope for the entire company.
1
Fair Trade & Ethical Sourcing
-20
Fossil Group conducts annual audits for its Tier 1 finished good factories, with Tier 2 component factories scheduled to begin audits in 2025.
1
Corrective action plans are developed within two weeks of an audit, and follow-up audits for new suppliers with moderate-high or higher initial risk ratings are scheduled within one month.
2
All Tier 1 finished good and Tier 2 component factories are required to sign a Manufacturer’s Agreement that includes adherence to the Manufacturer’s Code of Conduct.
3
For conflict minerals, 98% of tier 1 and high-risk tier 2 suppliers responded to RCOI surveys, with a majority providing chain-of-custody documentation to smelters.
4
Out of 236 identified smelters, 221 are RMAP certified, 1 is pending RMAP certification, 1 is LBMA certified, and 4 are RJC certified.
5
Honest & Fair Business
0
Fossil Group has not incurred any ethics-related regulatory fines in the past three years.
1
The company has a comprehensive whistleblower policy, including a 24/7 confidential and anonymous hotline (MySafeWorkplace.com) for employees and a separate third-party worker hotline for suppliers.
2
The policy explicitly prohibits retaliation for good faith reports, and states that reports will be promptly documented, investigated, and acted upon in a timely manner.
3
However, specific metrics on resolution times or uptake rates are not provided. The board intends for a substantial majority of its directors to be independent, and Audit Committee members must meet SEC, Exchange Act, and NASDAQ independence requirements, but a specific percentage of conflict-free board members is not disclosed.
4
Fossil Group has a comprehensive anti-corruption policy, outlined in its Code of Business Conduct and Ethics, which prohibits bribery and improper payments, including facilitation payments, and is subject to the U.S. Foreign Corrupt Practices Act, Canadian Corruption of Foreign Public Officials Act, and U.K. Bribery Act.
5
The company uses third-party compliance auditing firms for supplier audits, conducts annual audits of Tier 1 finished good factories, and will begin auditing significant Tier 2 component factories in 2025.
6
The Audit Committee also oversees independent auditors and reviews their independence.
7
Kind to Animals
-20
Fossil Group states it does not knowingly source ingredients that have been tested on animals.
1
The company prohibits the use of fur and only uses animal hair or leather products that are byproducts of food production, accepting skins from sheep/lamb, cow, bison, goat, fish, and pig.
2
Fossil Group owned brands do not include exotic skin leathers, and for licensed brands, exotic skins are used only in compliance with CITES Convention and IUCN.
3
The company partners with the Leather Working Group (LWG) to encourage ethical treatment of animals and sources 80% of its leather from LWG-audited members.
4
However, its formal animal welfare policy is not aligned with the Five Domains of Animal Welfare.
5
No War, No Weapons
0
No evidence available to assess Fossil Group, Inc. on No War, No Weapons.
Planet-Friendly Business
-50
Fossil Group's total Scope 1, 2, and 3 emissions were 29,080 tCO₂e in 2021.
1
By 2023, Scope 1 and 2 emissions decreased by 2.1% from the 2021 baseline, and Scope 3 emissions saw a 35.2% reduction.
2
The company has committed to science-based targets aligned with the 1.5°C scenario, with SBTi validation for net-zero and short/long-term emission reduction targets scheduled for June 2024.
3
In 2023, 42.3% of total energy consumption was sourced from renewable energy.
4
Total water withdrawn in 2022 was 134 megaliters.
5
The company uses 50% recycled PET in handbag linings, with a plan to transition to 100% rPET in 2022.
6
Fossil Group has a net-zero GHG emissions target for 2040, with a near-term goal of 50% reduction by 2030.
7
The company is using TCFD recommendations to inform disclosures on climate-related risks.
8
All chosen tanneries are certified with LWG to ensure compliance with environmental standards.
9
In 2022, 30 factories were found non-compliant with environmental regulations, and corrective action plans were implemented.
10
20% of packaging is recyclable or reusable.
11
Respect for Cultures & Communities
-30
Fossil Group has implemented communication in local languages within its finished goods factories and trained factory management on new Code of Conduct language.
1
However, this limited scope of language inclusivity, primarily within factory operations, maps to a score of 35-50/100, which is tier -50. For cultural sensitivity training, the company requires all employees and management with direct responsibility in Supplier Compliance to take annual human rights training.
2
This partial coverage, not extending to all employees or explicitly defined as 'cultural sensitivity' beyond human rights, aligns with 20-40% completion, mapping to tier -50.
Safe & Smart Tech
-10
Fossil Group requires all employees, including part-time employees and certain contractors, to complete annual cybersecurity and privacy awareness training, with additional role-based training for specific positions.
1
The company leverages the NIST Cybersecurity Framework and has company-wide policies for encryption standards and multi-factor authentication.
2
It conducts regular external penetration tests, red team testing, and maturity testing of its cyber defenses, and performs security assessments on system additions and changes, including third-party service providers.
3
Fossil Group has a Vulnerability Disclosure Program (VDP) through Hackerone.
4
The company's privacy policy, last updated July 20, 2021, states that personal information is deleted upon request, after the legal retention period, or when there is no business purpose for retention.
5
It also mentions compliance with the California Consumer Privacy Act (CCPA) and GDPR, and offers California residents rights to access, delete, and opt-out of data sale.
6
However, the company's privacy policy also states that in the preceding 12 months, it collected and sold categories of personal information including identifiers, commercial information, and internet or other similar network activity.
7
Zero Waste & Sustainable Products
-40
Fossil Group reports that 20% of its packaging is recyclable and/or reusable.
1
In 2021, handbag linings used a mix of 50% virgin plastic and 50% recycled PET (rPET), with a transition to 100% rPET underway.
2
The company's take-back program was rolled out in 94% of full-price Fossil retail stores in the European region in 2022, with a goal for global rollout by 2030.
3
Fossil Group aims to design owned brand products with recycling in mind by 2040 and is designing products to be more durable, easily repaired, or recyclable.
4
The company offers watch repair services to extend product life.
5
Fossil Group has implemented waste reduction initiatives such as designing products and packaging for reuse, partnering with recycling organizations, and optimizing material usage.
6
All Tier 1 suppliers were compliant with wastewater discharge rules and regulations in 2021, with no non-compliant issues found in audited packaging factories.
7
The company has a target to transition to 100% circular primary packaging by 2025 and 90% circular packaging materials by 2030.
8
Over 81% of direct suppliers were engaged in environmental initiatives through online workshops in 2022.
9
Customer education is provided through membership in the Sustainable Packaging Coalition’s How2Recycle Program in the U.S. and Canada.
10