Fossil Group appoints Laks Lakshmanan as Chief Supply Chain Officer to enhance global supply chain operations and strategy.
Quiver AI Summary
Fossil Group, Inc. has appointed Laks Lakshmanan as the Chief Supply Chain Officer, effective June 16, 2025. Lakshmanan, who has over 20 years of supply chain leadership experience with a background in advising Fortune 500 consumer companies, will oversee Fossil's global supply chain operations and the company's Global Business Services based in India. CEO Franco Fogliato emphasized the importance of enhancing leadership as part of the company's strategic plan, expressing excitement about Lakshmanan's expertise, particularly in the watch category, as they aim to modernize their supply chain. Lakshmanan previously served as Managing Director at Alvarez & Marsal and has been involved with Fossil as interim Head of Supply Chain, where he played a key role in reshaping their distribution strategy.
Potential Positives
- Appointment of Laks Lakshmanan as Chief Supply Chain Officer strengthens the executive leadership team with significant expertise in supply chain management.
- Lakshmanan's prior experience with Fossil as interim Head of Supply Chain indicates a smooth transition and continuity in supply chain initiatives.
- The new role emphasizes the company's commitment to operational excellence and strategic improvement in supply chain capabilities, potentially enhancing efficiency and cost structure.
- Franco Fogliato's remarks underscore the importance of building a diverse leadership team, which may contribute to a more innovative and effective organizational culture.
Potential Negatives
- The creation of a new Chief Supply Chain Officer position may indicate ongoing challenges within Fossil Group's supply chain operations that necessitate additional executive oversight.
- The need to reshape Fossil’s distribution strategy and improve operational goals suggests existing inefficiencies and struggles within the Company's supply chain that may affect overall performance.
- Laks Lakshmanan's previous interim role indicates that Fossil has been relying on external resources or contractors for critical supply chain leadership, which could raise concerns about internal capabilities and stability.
FAQ
Who is the new Chief Supply Chain Officer at Fossil Group?
Laks Lakshmanan has been appointed as the Chief Supply Chain Officer, effective June 16, 2025.
What experience does Laks Lakshmanan bring to Fossil Group?
He has over 20 years of supply chain leadership experience, including significant roles in Fortune 500 companies.
What are Lakshmanan's key responsibilities at Fossil Group?
He oversees the global end-to-end supply chain, including manufacturing, sourcing, distribution, and logistics operations.
How will Lakshmanan contribute to Fossil Group's strategy?
His expertise in operational excellence and strategic planning will help elevate and modernize Fossil’s supply chain.
What was Lakshmanan's role prior to this appointment?
He served as Managing Director at Alvarez & Marsal and was interim Head of Supply Chain for Fossil.
Disclaimer: This is an AI-generated summary of a press release distributed by GlobeNewswire. The model used to summarize this release may make mistakes. See the full release here.
$FOSL Hedge Fund Activity
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- FIRST EAGLE INVESTMENT MANAGEMENT, LLC added 318,544 shares (+96.3%) to their portfolio in Q1 2025, for an estimated $366,325
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- MILLENNIUM MANAGEMENT LLC removed 233,749 shares (-86.8%) from their portfolio in Q1 2025, for an estimated $268,811
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Full Release
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
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