Fossil Group Appoints Laks Lakshmanan as Chief Supply Chain Officer

Rhea-AI Summary

Fossil Group (NASDAQ:FOSL) has appointed Laks Lakshmanan as its new Chief Supply Chain Officer, effective June 16, 2025. Lakshmanan brings over 20 years of supply chain leadership experience and will oversee Fossil's global end-to-end supply chain operations across all brands and regions.

Previously serving as Managing Director at Alvarez & Marsal, Lakshmanan has already been working with Fossil for the past two years as interim Head of Supply Chain. During this period, he has contributed to reshaping the company's distribution strategy and improving manufacturing responsiveness and cost structure.

Positive

• Appointment of experienced executive with over 20 years of supply chain leadership
• New CSCO already familiar with company operations through 2-year interim role
• Previous achievements include improving manufacturing responsiveness and cost structure

Negative

• Company acknowledges need for turnaround, indicating current business challenges

RICHARDSON, Texas, July 02, 2025 (GLOBE NEWSWIRE) -- Fossil Group, Inc. (NASDAQ: FOSL) today announced the appointment of Laks Lakshmanan to the newly created position of Chief Supply Chain Officer, effective June 16, 2025.

With more than 20 years of supply chain leadership experience, Lakshmanan brings deep expertise in network design, integrated planning, cost transformation, and operational excellence, having advised and led initiatives for Fortune 500 consumer and retail companies. Lakshmanan leads Fossil Group’s global end-to-end supply chain—from manufacturing and sourcing to distribution and logistics—across all brands and regions. He also oversees the Company’s Global Business Services operations based in Bengaluru, India.

“As we continue to execute our plan, building a high-performing, diverse leadership team remains a top priority,” said Franco Fogliato, Chief Executive Officer of Fossil Group. “We’re excited to welcome Laks to the executive leadership team. His deep operational expertise, strategic mindset, and understanding of the watch category will be invaluable to our turnaround.”

“Twenty years ago, Fossil was the first aspirational watch I purchased. Decades later, the Company continues to inspire consumers with its heritage, innovation, and customer experience. I’m honored to take on this role and partner with management and our global teams to elevate and modernize our supply chain for the future,” said Lakshmanan.

Lakshmanan most recently served as Managing Director at Alvarez & Marsal (“A&M”), within the firm’s Consumer and Retail Group. Over the past two years, he has worked closely with Fossil as interim Head of Supply Chain as part of the Company’s partnership with A&M. During this time, he played a pivotal role in reshaping Fossil’s distribution strategy, driving significant progress against operational goals and helping improve the Company’s manufacturing responsiveness and cost structure.

Prior to A&M, Lakshmanan held senior operational roles, including Principal in the Strategic Operations practice at Kearney and Group Manager of Distribution and Transportation at Target. He also led transformational initiatives at a leading U.S.-based multinational cosmetics company and a major consumer cooperative focused on supply chain cost optimization and private label strategy.

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 watches, 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, Emporio Armani, kate spade new york, Michael Kors and Tory Burch. We bring each brand story to life through an extensive distribution network across numerous geographies, categories and channels. Certain press release and SEC filing information concerning the Company is also available at www.fossilgroup.com.

Investor relations:	Christine Greany The Blueshirt Group christine@blueshirtgroup.com

FAQ

Who is the new Chief Supply Chain Officer at Fossil Group (NASDAQ:FOSL)?

Laks Lakshmanan has been appointed as Fossil Group's new Chief Supply Chain Officer, effective June 16, 2025.

What experience does Laks Lakshmanan bring to Fossil Group (NASDAQ:FOSL)?

Lakshmanan brings over 20 years of supply chain leadership experience, including expertise in network design, integrated planning, cost transformation, and operational excellence from Fortune 500 companies.

What was Laks Lakshmanan's role before joining Fossil Group (NASDAQ:FOSL)?

Lakshmanan served as Managing Director at Alvarez & Marsal and worked with Fossil as interim Head of Supply Chain for two years before his appointment.

What will be Laks Lakshmanan's responsibilities at Fossil Group (NASDAQ:FOSL)?

Lakshmanan will lead Fossil's global end-to-end supply chain, including manufacturing, sourcing, distribution, and logistics across all brands and regions, plus oversee Global Business Services operations in Bengaluru.