RICHARDSON, TX, August 22, 2022 /PRNewswire/ — Fossil Group, Inc. (NASDAQ: FOSL) (the “Company” or the “Fossil Group”) today released its 2021 Corporate Sustainability Report highlighting the commitments and progress of the Company on environmental, social and governance (ESG) initiatives for calendar year 2021.
Over the past year, the Fossil Group has worked to broaden and articulate the company’s corporate responsibility. Through Make Time for Good, the company’s corporate responsibility framework for managing ESG, the Fossil Group is strengthening collaboration with key stakeholders, creating ESG goals that reflect current reality and changing priorities, and strives to reduce the environmental impact of a number of its products, while supporting communities and company employees. Make Time for Good is made up of three global initiatives: Good for the Planet, Good for Communities and Good for Our People.
Good for the Planet
The Fossil Group’s Good for the Planet commitments prioritize transformation to a low-carbon business model, reducing the company’s environmental impact and creating more responsible products. In calendar year 2021, the Fossil Group partially achieved traceability in its handbag and small leather goods categories, representing 10% of the company’s total supplier base. Additionally, more than 25% of Fossil Group packaging now contains recycled materials and 20% of the company’s packaging can be recycled or reused. Fossil Group’s net-zero roadmap is underway in partnership with the Science-Based Targets (SBTi) initiative.
Good for communities
The Fossil Group encourages Company employees to be a force for good in the Company’s global communities. Since its inception, the Fossil Foundation has donated more than $30 million globally and has positively impacted the lives of over 2.6 million underserved young people around the world. One percent of all fossil.com online sales go to support the Fossil Foundation. Additionally, in 2021, Fossil Group scored 73% on the Women’s Empowerment Principles assessment.
good for our people
The Fossil Group believes that together the company is capable of even more innovation, collaboration and creativity. In 2021, the company launched workshops to teach business leaders how to create more inclusive environments and achieved a 14% increase in female leadership. The company has added DE&I goals to the executive team’s performance review and compensation plans. The Fossil Group also received a score of 100% on the Human Rights Campaign’s Corporate Equality Index.
“For more than 35 years, the Fossil Group has been designing and creating accessories that bring joy to consumers and help people live their lives to the fullest,” said Kosta Kartsotis, Chairman and CEO of the Fossil Group. “Prioritizing our ESG initiatives is a natural extension of our company’s heritage to create better products that are not only of high quality, but also leave a lighter environmental footprint and support the livelihoods of people who design and produce them.
The structure and information provided in the report conforms to the frameworks of the Global Reporting Initiative (GRI) and the Sustainability Accounting Standards Board (SASB). Fossil Group has also used recommendations from the Task Force on Climate-Related Financial Disclosure (TCFD) to inform our disclosures on climate-related risks and the United Nations Sustainable Development Goals (SDGs) to inform our programmatic initiatives.
For more information on the Fossil Group 2021 Corporate Sustainability Report, including recent news and program highlights, please visit our corporate website, FossilGroup.com/Sustainability.
About Fossil Group, Inc.
Fossil Group, Inc. is a global design, marketing, distribution and innovation company specializing in lifestyle accessories. Under a diverse portfolio of own and licensed brands, our offerings include traditional watches, smartwatches, jewelry, handbags, small leather goods, belts and sunglasses. We are committed to delivering the best in design and innovation through our own brands, Fossil, Michele, Relic, Skagen and Zodiac, and licensed brands, Armani Exchange, Diesel, DKNY, Emporio Armani, Kate Spade New York, Michael Kors, PUMA and Tory Burch. We bring every brand story to life through an extensive distribution network across multiple geographies, categories and channels. Certain press releases and SEC information regarding the Company are also available at www.fossilgroup.com.
This press release contains statements that are or may be deemed to be “forward-looking statements”. Forward-looking statements are forward-looking in nature and are not based on historical fact but rather on the current expectations and projections of the management of Fossil Group, Inc. regarding future events, and are therefore subject to risks and uncertainties that could cause different actual results. materially about future results expressed or implied by the forward-looking statements. All statements other than statements of historical facts included in this press release may be forward-looking statements. Without limitation, all statements preceded or followed by or that include the words “plans”, “believes”, “expects”, “intends”, “will”, “should”, “could”, “could”, “could”, “anticipate”, “could” or similar words or expressions, are forward-looking statements. These forward-looking statements are not guarantees of future financial performance. These forward-looking statements involve known and unknown risks and uncertainties that could materially affect expected results and are based on certain key assumptions, which could cause actual results to differ materially from those projected or implied in the statements. forward-looking statements. These risks, uncertainties and other factors are set forth in reports the Company files from time to time with the United States Securities and Exchange Commission, including the Company’s Annual Report on Form 10-K for the fiscal year ended January 1, 2022. Any forward-looking statements in this press release speak only as of the date of this press release and the Company disclaims any obligation to update or revise any forward-looking or other statements contained in this press release other than in accordance with legal and regulatory obligations.
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SOURCE Fossil Group, Inc.