Fossil Group has added a new position to its executive leadership team.
The watch and accessories brand named Holly Briedis as executive VP, chief digital officer. In this new role, she will be responsible for leading Fossil Group's digital initiatives.
Briedis brings more than 15 years of experience in digital marketing and retail to Fossil. Previously, as a partner at McKinsey & Company, she led the omnichannel and customer experience practice for retail in North America, advising global consumer companies on driving profitable growth. Briedis brings a deep knowledge of customer-centered transformations, focusing on e-commerce and omnichannel growth, digital marketing, loyalty and CRM, Fossil stated.
In March, Fossil, which has been challenged with falling sales, said it expected to close 65 to 75 stores in 2021. The company reported more than $1.6 billion in revenues for the full 2020 fiscal year, down from $2.2 billion in 2019.
In its first quarter, ended April 3, net sales decreased 7% to $363 million. Digital sales were a bright spot, up 40% compared to the prior year, led by the company's owned e-commerce websites, and represented 41% of worldwide net sales.
"The digital footprint of consumers continues to grow, and brands leaning into this evolution are the ones driving growth," said Kosta Kartsotis, chairman and CEO, Fossil Group. "Holly's extensive leadership and expertise in driving customer-centered digital transformations for retail brands during her time with McKinsey & Company will help Fossil Group cement itself as a digital-first retailer."
Fossil Group has a portfolio of brands that include Fossil, Michele, Misfit, Relic, Skagen and Zodiac, and licensed brands, Armani Exchange, Diesel, DKNY, Emporio Armani, kate spade new york, Marc Jacobs, Michael Kors, PUMA and Tory Burch. It has an extensive wholesale distribution network across approximately 150 countries and 500 retail locations.