Exhibit 99.1

                Fossil Completes Acquisition of Michele Watches

    RICHARDSON, Texas, April 14 /PRNewswire-FirstCall/ -- Fossil, Inc.
(Nasdaq: FOSL) announced today that it has completed the acquisition of Tempus
International Corp. (d/b/a Michele Watches) based in Miami, Florida for
approximately $50 million in cash.  Tempus manufactures, markets and
distributes watches under the MW(R) and MW Michele(R) brand labels.

    Tempus will continue to be run by Jack Barouh, the President of Tempus,
from its offices in Miami, Florida and Geneva, Switzerland.  Steve Bock,
President of Fossil's Luxury Division commented, "We are excited by the many
expansion opportunities that Michele watches presents us, especially in Europe
and the Far East.  Michele has established a business with increasing momentum
and we look forward to capitalizing on this strength by utilizing the powerful
platform we have created to further develop the brand.  We believe our proven
track record for integrating and expanding licensed and owned brands places us
in an excellent position for the Michele brand to reach its full potential."

    Michele Watches focuses on designing, manufacturing, marketing and
distributing luxury watches under the MW and MW Michele brands.  Launched as a
fine watch brand in the United States in the fall of 2000 with its CSX Diamond
Collections, Michele Watches quickly became a leader in its category at luxury
retailers including Neiman Marcus, Saks Fifth Avenue, and better independents.
The company's involvement in every detail of the production of their watches
has made them a standout brand in the industry.  As consumer desires for
unique and fashionable timepieces have grown more sophisticated, so has
Michele Watches' commitment to high style.

    Fossil is a design, development, marketing and distribution company that
specializes in consumer products predicated on fashion and value.  The
Company's principle offerings include an extensive line of watches sold under
the Company's propriety brands FOSSIL, RELIC and ZODIAC as well as licensed
brands for some of the most prestigious companies in the world including
EMPORIO ARMANI, BURBERRY, DKNY and DIESEL.  The Company also offers
complementary lines of small leather goods, belts, handbags, sunglasses under
the FOSSIL and RELIC brands, jewelry under the FOSSIL and EMPORIO ARMANI
brands and FOSSIL apparel.  The Company's products are sold in department
stores and specialty retail stores in over 90 countries around the world, in
addition to the Company's e-commerce website at www.fossil.com .
Additionally, certain product, press release and SEC filing information
concerning the Company is available on the website.

    Certain statements contained herein that are not historical facts
constitute "forward-looking statements" within the meaning of the Private
Securities Litigation Reform Act of 1995 and involve a number of risks and
uncertainties.  The actual results of the future events described in such
forward-looking statements could differ materially from those stated in such
forward-looking statements.  Among the factors that could cause actual results
to differ materially are: general economic conditions, competition, acts of
terrorism or acts of war, government regulation, changes in foreign currency
valuations in relation to the United States Dollar and possible future
litigation, as well as the risks and uncertainties set forth on the Company's
Current Report on Form 8-K dated June 25, 2003.

SOURCE  Fossil, Inc.
    -0-                             04/14/2004
    /CONTACT:  Lois Schrager of Paul Wilmot Communications, +1-212-206-7447,
or lschrager@greatpress.com , for Tempus International Corp.; or Mike Kovar,
Chief Financial Officer of Fossil, Inc., +1-972-699-2229; or Allison Malkin,
Investor Relations of Integrated Corporate Relations, +1-203-222-9013, for
Fossil, Inc./
    /Web site:  http://www.fossil.com /
    (FOSL)

CO:  Fossil, Inc.; Tempus International Corp.; Michele Watches
ST:  Texas, Florida
IN:  HOU REA FAS
SU:  TNM