Fossil Group Inc, formerly Fossil, Inc., is a Delaware corporation formed in 1991 and is the successor to a Texas corporation formed in 1984. The Company designs, markets and distributes consumer fashion accessories. Its principal offerings include an extensive line of men's and women's fashion watches and jewelry, handbags, small leather goods, belts, sunglasses, soft accessories and clothing. In the watch and jewelry product categories, the Company have a diverse portfolio of globally recognized owned and licensed brand names under which its products are marketed. Its operations are primarily divided into four distinct segments: the North America wholesale segment; the Europe wholesale segment; the Asia Pacific wholesale segment; and the Direct to consumer segment, which includes its Company-owned retail stores, its catalog costs and e-commerce activities. Within the wholesale segments of its business, the company generally sell to retailers in those countries in which it has a physical presence as well as to third-party distributors in countries where it do not have a physical presence. The Company's brand names includes ADIDAS, ARMANI EXCHANGE, BURBERRY, DIESEL, DKNY, EMPORIO ARMANI, KARL LAGERFELD, MARC BY MARC JACOBS, MICHAEL KORS, MICHELE, RELIC, SKAGEN, TORY BURCH and ZODIAC, in order to appeal to a wide range of consumers. The Company sell its products in retail locations in the U.S. through a diversified distribution network that includes department stores, specialty retail locations, specialty watch and jewelry stores and mass market stores. For its FOSSIL, MICHELE and licensed branded products, their primary department store customers include Bloomingdales, Dillard's, Neiman Marcus, Nordstrom, Macy's and Saks Fifth Avenue. For its RELIC brand, their primary customers include JCPenney and Kohl's. For its SKAGEN brand, their primary customers include Dillard's, Macy's and Nordstrom. Its watch business generally competes in these segments with a number of established manufacturers, importers and distributors, including Armitron, Citizen, Gucci, Kenneth Cole, LVMH Group, Movado, Raymond Weil, Seiko, Swatch, Swiss Army, TAG Heuer and Timex. The Company is subject to laws regarding customs, tax, employment, privacy, truth-in-advertising, consumer product safety, zoning and occupancy and other laws and regulations that regulate and/or govern the importation, promotion and sale of consumer products and its corporate, retail and distribution operations.