FORM 5 Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b). Form 3 Holdings Reported Form 4 Transactions Reported

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 ANNUAL STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(h) of the Investment Company Act of 1940

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1. Name and Address of Reporting Person * KARTSOTIS TOM 2. Issuer Name and Ticker or Trading Symbol FOSSIL INC [FOSL] 5. Relationship of Reporting Person(s) to Issuer (Check all applicable) __X__ Director __X__ 10% Owner __X__ Officer (give title below) _____ Other (specify below) Chairman (Last) (First) (Middle) 2280 N. GREENVILLE AVENUE 3. Statement for Issuer's Fiscal Year Ended (Month/Day/Year) 01/05/2008 (Street) RICHARDSON, TX 75082 4. If Amendment, Date Original Filed(Month/Day/Year) 6. Individual or Joint/Group Reporting (check applicable line) _X_ Form Filed by One Reporting Person ___ Form Filed by More than One Reporting Person (City) (State) (Zip) Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned

1.Title of Security (Instr. 3) 2. Transaction Date (Month/Day/Year) 2A. Deemed Execution Date, if any (Month/Day/Year) 3. Transaction Code (Instr. 8) 4. Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5) 5. Amount of Securities Beneficially Owned at end of Issuer's Fiscal Year (Instr. 3 and 4) 6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) 7. Nature of Indirect Beneficial Ownership (Instr. 4) Amount (A) or (D) Price Common Stock 01/03/2007   G(1) 8,500 D $ 0 4,995,596 D   Common Stock 02/22/2007   G(1) 1,000 D $ 0 4,994,596 D   Common Stock 02/28/2007   J(2) 1,462,998 A $ 0 6,457,594 D   Common Stock 03/20/2007   G(1) 2,500 D $ 0 6,455,094 D   Common Stock 03/22/2007   G(1) 4,000 D $ 0 6,451,094 D   Common Stock 03/29/2007   G(1) 10,000 D $ 0 6,441,094 D   Common Stock 05/11/2007   G(1) 807 D $ 0 6,440,287 D   Common Stock 11/26/2007   G(1) 11,403 D $ 0 6,428,884 D   Common Stock 11/29/2007   J(3) 1,126,288 A $ 0 7,555,172 D   Common Stock 12/11/2007   G(1) 1,000 D $ 0 7,554,172 D   Common Stock 02/28/2007   J(4) 1,462,998 D $ 0 2,537,002 I by GRAT Common Stock 11/29/2007   J(5) 2,537,002 D $ 0 0 I by GRAT Common Stock             2,679,580 I by Spouse Common Stock 12/18/1997   G4(6) 30,541 A $ 0 63,521 I Minor Child Common Stock 11/29/2007   J(7) 1,410,714 A $ 0 1,897,338 I Tom Kartsotis as Joint Trustee of The Kartsotis Family Irrevocable Family Trust

Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.

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SEC 2270 (9-02)

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)

1. Title of Derivative Security (Instr. 3)

2. Conversion or Exercise Price of Derivative Security

3. Transaction Date (Month/Day/Year)

3A. Deemed Execution Date, if any (Month/Day/Year)

4. Transaction Code (Instr. 8)

5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4, and 5)

6. Date Exercisable and Expiration Date (Month/Day/Year)

7. Title and Amount of Underlying Securities (Instr. 3 and 4)

8. Price of Derivative Security (Instr. 5)

9. Number of Derivative Securities Beneficially Owned at End of Issuer's Fiscal Year (Instr. 4)

10. Ownership Form of Derivative Security: Direct (D) or Indirect (I) (Instr. 4)

11. Nature of Indirect Beneficial Ownership (Instr. 4)

(A)

(D)

Date Exercisable

Expiration Date

Title

Amount or Number of Shares

Reporting Owners

Reporting Owner Name / Address	Relationships
	Director	10% Owner	Officer	Other
KARTSOTIS TOM 2280 N. GREENVILLE AVENUE RICHARDSON, TX 75082	  X	  X	  Chairman	Â

Signatures

Randy S. Hyne, Attorney-in-Fact		02/14/2008
**Signature of Reporting Person		Date

Explanation of Responses:

*	If the form is filed by more than one reporting person, see Instruction 4(b)(v).
**	Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
(3)	This transaction is reported as an acquisition, however it is a change in beneficial ownership. Under the terms of a GRAT, 1,126,288 shares were transferred to Mr. Tom Kartsotis, as beneficiary of the GRAT.
(4)	This transaction is reported as a disposition, however it is a change in beneficial ownership. Under the terms of a GRAT, 1,462,998 shares were transferred to Mr. Tom Kartsotis, as beneficiary of the GRAT.
(1)	Bona fide gift without consideration of any kind.
(6)	Subsequent to December 18, 1997, a total of 30,541 shares attributable to minor children were inadvertently omitted due to administrative error.
(2)	This transaction is reported as an acquisition, however it is a change in beneficial ownership. Under the terms of a Grantor Retained Annuity Trust ("GRAT"), 1,462,998 shares were transferred to Mr. Tom Kartsotis, as beneficiary of the GRAT.
(5)	This transaction is reported as a disposition, however it is a change in beneficial ownership. Under the terms of a GRAT, 1,126,288 shares were transferred to Mr. Tom Kartsotis, as beneficiary of the GRAT, and the remaining 1,410,714 shares were transferred to Mr. Tom Kartsotis as Joint Trustee of The Kartsotis Family Irrevocable Family Trust.
(7)	This transaction is reported as an acquisition, however it is a change in beneficial ownership. Under the terms of a GRAT, 1,410,714 shares were transferred to Mr. Tom Kartsotis as Joint Trustee of The Kartsotis Family Irrevocable Family Trust.

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