REPORT: Fossil founder Tom Kartsotis launches Detroit venture

(WXYZ) - A new report  says you can add the founder of watch  manufacturer Fossil to the manufacturers that are high on products "made in Detroit."

In an article written by Daniel Duggan , Crain's Detroit Business says Fossil's founder Tom Kartsotis is leasing 30,000 square-feet in the New Center's Argonaut Building.

"He's going to be doing the manufacturing there," Duggan says. "He's actually, right now, building a team of watchmakers who are going to be in Detroit, building these watches.

Crain's says Kartsotis is already producing a line of watches in the building, and a line of bicycles is in the prototype stage.

Appearing on 7 Action News at Noon, Duggan says Kartsotis' move is all about Detroit.

"He thinks that there's a cachet, that there's a Detroit cool that he wants to tap into," Duggan says. "I think it's starting to catch on in other parts of the country.

Duggan also says Kartsotis did a lot of research before making the move to Detroit.

"Basically his research says that people will pay more for a product that's made in Detroit that's, quote/unquote, 'Made in the USA'," Duggan says.

Kartsotis served as the CEO of Fossil from its founding in 1984 until 2000, when he stepped down. He remained Fossil's chairman until 2010.

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