Key takeaways
- With over 30,000 retail points across more than 140 countries, Fossil Group faced foreign exchange risk
- In collaboration with J.P. Morgan, Fossil Group implemented a net-pricing outcome strategy, an automated unitized time deposit solution and host-to-host integration for domestic payables
- The solution has delivered over $150,000 in time and cost savings and has been recognized as the Highly Commended Winner in the Best in Class Treasury Solution in India category at the Adam Smith Awards Asia
About
Fossil Group has found the balance between innovation and classic style with its future-forward lifestyle accessories. As a global design, marketing and distribution company, it has accumulated a diverse portfolio of owned and licensed brands ranging from watches and jewelry to handbags and leather goods.1
The challenge
With over 30,000 retail points across more than 140 countries, Fossil Group faces foreign exchange (FX) risk, particularly between different entities within the group in India.2 The misalignment of these sectors revealed an opportunity for growth within Fossil’s global management space.
“Working with J.P. Morgan, we created a strategy targeting automation, FX management and treasury transformation. These improvements establish best practices we can replicate in other markets. By turning challenges into opportunities, we strengthen our position as a global market leader.”
Vikash Jain
Vice President, Fossil Global Business Services
The solution
In collaboration with J.P. Morgan, Fossil Group embarked on a strategic journey, navigating the complexities of automation, FX management and treasury transformation. This innovative approach elevated operational efficiency and enhanced financial management.
Fossil Group implemented a sophisticated net-pricing outcome strategy, effectively aligning its foreign currency receivables and payables across distinct entities within the group. This solution leverages automation to streamline transactions, with user validation as a key component. For added security, transactions can be escalated to a second-level manual check, ensuring robust protection.
On the treasury front, Fossil Group introduced an automated unitized time deposit (UTD) solution to expertly manage excess liquidity. This was complemented by host-to-host (H2H) integration for domestic payables, marking a significant leap forward in treasury operations. Furthermore, cross-border payments were transformed into a fully digital solution, revitalizing Fossil Group's treasury processes and setting a new benchmark for efficiency and innovation.
“At J.P. Morgan Payments, we're committed to helping companies like Fossil achieve excellence and drive innovation. Our approach combines the latest technology with strategic insights to optimize efficiency.”
Guhaprasath Rajagopal
Head of Payments India, J.P. Morgan Payments
The results
Fossil Group successfully automated and digitized its processes, resulting in significant time savings and cost savings of more than $150,000. These process improvements have not only had an immediate positive impact on the business, but have also set a precedent for replicating established FX management best practices in other markets.
The solution proved to be a win-win, as the notional revenue previously foregone due to FX risks was effectively offset by optimized cash balances and liquidity solutions. As a result, Fossil Group has realized substantial savings, significantly bolstering its financial position. These newfound resources have empowered the company to invest in growth opportunities, further solidifying its position as a global market leader.
“From liquidity management to cross-border payment efficiency and host-to-host integration, we focused on every detail to ensure smooth process digitization and automation.”
Vaibhav Sharma
Co-head of Subsidiary Banking, MNC, J.P. Morgan
Discover how to optimize your treasury operations in India and the broader Asia-Pacific region with our expert local team.
References
Fossil Group. “Fossil Group Investor Relations.” Accessed Jul 9, 2025
Fossil Group. “Singapore | Fossil Group”. Accessed Jul 9, 2025
Disclaimer
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