RICHARDSON, Texas, Aug. 22, 2022 /PRNewswire/ -- Fossil
Group, Inc. (NASDAQ: FOSL) (the "Company" or "Fossil Group") today
released its 2021 Corporate Sustainability Report highlighting the
Company's commitments and progress on environmental, social and
governance (ESG) initiatives for the 2021 calendar year.
In the past year, Fossil Group has worked to broaden further and
articulate the company's corporate responsibility. Through Make
Time for Good, the Company's corporate responsibility framework for
managing ESG, Fossil Group is increasing collaboration with
critical stakeholders, creating ESG goals that reflect the current
reality and evolving priorities, and working to reduce the
environmental impact of a number of its products, while supporting
the Company's communities and employees. Make Time for Good is made
up of three overarching initiatives — Good for the Planet, Good for
Communities, and Good for Our People.
Good for the Planet
Fossil Group's Good for the Planet
commitments prioritize transforming to a low carbon business model,
reducing the Company's environmental impact, and creating
more responsible products. During the 2021 calendar year, Fossil
Group partially achieved traceability in its handbag and small
leather goods categories, representing 10% of the Company's total
vendor base. Additionally, over 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 initiative
(SBTi).
Good for Communities
Fossil Group champions the
Company's employees to be a force for good in the Company's global
communities. Since its inception, the Fossil Foundation has donated
over $30 million globally and
positively impacted the lives of over 2.6 million underserved youth
worldwide. One percent of all fossil.com e-commerce sales goes to
support Fossil Foundation. Additionally, in 2021, Fossil Group
achieved a 73% score on the Women's Empowerment Principles
Assessment.
Good for our People
Fossil Group believes that
together the Company is capable of even greater innovation,
collaboration, and creativity. In 2021, the Company launched
workshops to teach Company leaders how to create more inclusive
environments and achieved a 14% increase in female leadership. The
Company added DE&I goals to the Executive Leadership Team's
performance review and compensation plans. Fossil Group also
received a 100% score on the Human Rights Campaign Corporate
Equality Index.
"For over 35 years, Fossil Group has designed and created
accessories that bring joy to consumers and help people live lives
to the fullest," said Kosta
Kartsotis, Chairman and Chief Executive Officer, Fossil
Group. "Prioritizing our ESG initiatives is a natural extension of
our Company's legacy to create better products that are not only
high quality, but that also leave a lighter environmental footprint
and support the livelihoods of people who design and produce
them."
The report's structure and disclosures align with the
Global Reporting Initiative (GRI) and Sustainability Accounting
Standards Board (SASB) frameworks. Fossil Group has also used the
Task Force on Climate-related Financial Disclosure (TCFD)
recommendations to inform our disclosures on climate-related risks
and the United Nations Sustainable Development Goals (SDGs) to
inform our programmatic initiatives.
For more information about Fossil Group's 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
owned 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 across our owned 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 each
brand story to life through an extensive distribution network
across numerous geographies, categories and channels. Certain press
releases and SEC filing information concerning the Company is
also available at www.fossilgroup.com.
Forward-Looking Statements
This press release contains
statements that are, or may be deemed to be, "forward-looking
statements." Forward-looking statements are prospective in nature
and are not based on historical facts but rather on current
expectations and projections of the management of Fossil Group,
Inc. about future events, and are therefore subject to risks and
uncertainties which could cause actual results to differ materially
from the 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, any statements preceded or followed
by or that include the words "plans," "believes," "expects,"
"intends," "will," "should," "could," "would," "may,"
"anticipates," "might" or similar words or phrases, are
forward-looking statements. These forward-looking statements are
not guarantees of future financial performance. Such
forward-looking statements involve known and unknown risks and
uncertainties that could significantly affect expected results and
are based on certain key assumptions, which could cause actual
results to differ materially from those projected or implied in any
forward-looking statements. These risks, uncertainties and other
factors are set forth in the reports that the Company files from
time to time with the U.S. 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 statement in this press release speaks only as of
the date made and the Company disclaims any obligation to update or
revise any forward-looking or other statements contained herein
other than in accordance with legal and regulatory obligations.
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SOURCE Fossil Group, Inc.