Fashion without losses

Testimonial

The Fossil Group is a globally active company and pursues the design, marketing and distribution of fashion accessories. It has its Head Office in Richardson (Texas, USA) and is traded on the NASDAQ. The Fossil Group is active in three business segments: In addition to the Fossil and Skagen brands, it has a multi-brand portfolio, where products for various world-class brands such as Adidas, Armani, Diesel and Karl Lagerfeld are manufactured and distributed under licence. In 2012, the Fossil Group generated a turnover of approximately EUR 2.1 billion in the regions of the Americas, Asia and Europe.

In the EMEA region (Europe, the Middle East and Africa), the turnover was approximately EUR 700 million. Fossil has its own local distribution organisations in the large European markets, whereas elsewhere it works together with distributors. Fossil generates approximately 85% of its European turnover in the wholesale trade, whilst the remaining 15% come from the sale to end customers.

«The deciding factors for us were the higher quality of the data from Bisnode D&B and the ease of use of the user interface.»

Jean-Philippe Pouzou, Credit Manager EMEA Fossil Group Europe GmbH

Fossil

In order to improve the credit management, Fossil Group Europe GmbH introduced consistent standards for all of its locations in 2013. Jean-Philippe Pouzou, Credit Manager EMEA, was in charge of this: «We decided to hedge the orders of our key accounts with a credit limit of over EUR 50,000 by means of a credit insurance policy. With the smaller clients we carried out a credit check with Bisnode D&B in order to protect ourselves against losses.» The decision to use Bisnode D&B was preceded by a comparison with other credit rating providers. «Although we received lower-priced offers from other providers, the deciding factors for us were the higher quality of the data from Bisnode D&B and the ease of use of the user interface.»

In addition, the comprehensive data depth of Bisnode D&B’s company database was a crucial decision criterion. «This way, for instance, we see at a glance whether a client represents the head office or an affiliate. With the reports from Bisnode D&B, we have a valuable complement to our internal view and are, therefore, able to better substantiate our decisions.»