22.10.2025 14:40
The global economic crisis continues to shake the retail sector. The famous watch brand Fossil, based in the USA, has entered a restructuring process and has filed for bankruptcy protection.
The global economic downturn and high cost pressures are also challenging established brands. Due to the U.S. customs tariffs and rising production costs, many companies are facing a bottleneck, and the 41-year-old watch giant Fossil has also filed for bankruptcy protection.
The brand, which is also widely sold in Turkey, has requested the recognition of the restructuring process it initiated in the UK by the U.S. Fossil Global Services Ltd. has submitted a plan to the court aimed at refinancing a $150 million loan and a $150 million unsecured note.
POST-PANDEMIC WORLD ECONOMY IN TROUBLE
After the Covid-19 pandemic, the global retail sector is struggling with rising inflation, high labor costs, and supply chain issues. With the addition of extra tariffs imposed by U.S. President Donald Trump, the financial burden on companies has increased even further.
While many established brands are making decisions to file for bankruptcy or downsize, Fossil's situation is seen as a symbol of "failing to keep up with technological transformation" in the industry.
LOST COMPETITION TO TECHNOLOGY GIANTS
According to a report in The Street, Fossil has remained in the shadow of technology giants like Apple and Samsung over the past decade. The increasing competition in the smartwatch market has significantly reduced the brand's traditional watch sales.
Experts indicate that classic watch brands are struggling to maintain their market share due to the shift in consumer habits towards wearable technology.