United States
                       Securities and Exchange Commission
                              Washington D.C. 20549

                                  Schedule 13G

                    Under the Securities Exchange Act of 1934

                               (Amendment No. 11)

                                  FOSSIL, INC.
                                (Name of Issuer)

                          Common Stock, Par Value $.01
                         (Title of Class of Securities)

                                    349882100
                                 (CUSIP Number)

                                December 31, 2003
             (Date of Event Which Requires Filing of this Statement)

Check the  appropriate box to designate the rule pursuant to which this Schedule
is filed:

[ ]  Rule 13d-1(b)
[ ]  Rule 13d-1(c)
[X]  Rule 13d-1(d)

*The  remainder of this cover page shall be filled out for a reporting  person's
initial filing on this form with respect to the subject class of securities, and
for any  subsequent  amendment  containing  information  which  would  alter the
disclosures provided in a prior page.

The information required in the remainder of this cover page shall not be deemed
to be "filed" for the purpose of Section 18 of the  Securities  Exchange  Act of
1934 ("Act") or otherwise  subject to the  liabilities of that section but shall
be subject to all other provisions of the Act (however, see the Notes).






Cusip No. 349882100                                                  Page 2 of 4

--------------------------------------------------------------------------------
1    Names of Reporting Persons
     I.R.S. Identification Nos. of Above Person (entities only)

         Tom Kartsotis
--------------------------------------------------------------------------------
2    Check the Appropriate Box if a Member of A Group
     (See Instructions)
                   (a) [  ]
                   (b) [  ]
--------------------------------------------------------------------------------
3    SEC Use Only

--------------------------------------------------------------------------------
4    Citizenship or Place of Organization

            United States of America
--------------------------------------------------------------------------------
Number of                           5   Sole Voting Power
                                            10,469,816(1)
Shares                              --------------------------------------------
                                    6   Shared Voting Power
Beneficially                                0
                                    --------------------------------------------
Owned by                            7   Sole Dispositive Power
                                            10,469,816(1)
Each Reporting                      --------------------------------------------
                                    8   Shared Dispositive Power
Person With                                  0
--------------------------------------------------------------------------------
9    Aggregate Amount Beneficially Owned by Each Reporting Person

         10,469,816(1)
--------------------------------------------------------------------------------
10   Check if the Aggregate Amount in Row (9) Excludes Certain Shares*

         [X]
--------------------------------------------------------------------------------
11   Percent of Class Represented by Amount in Row (9)

          22.5%(2)
--------------------------------------------------------------------------------
12   Type of Reporting Person*

         IN
--------------------------------------------------------------------------------

                     * SEE INSTRUCTIONS BEFORE FILLING OUT!



Cusip No. 349882100                                                  Page 3 of 4


Item 1(a)         Name of Issuer:
                  Fossil, Inc.

Item 1(b)         Address of Issuer's Principal Executive Offices:
                  2280 N. Greenville Avenue
                  Richardson, Texas 75082

Item 2(a)         Name of Person Filing:  Tom Kartsotis

Item 2(b)         Address of Principal Business Office or, if none, Residence:
                  2280 N. Greenville Avenue
                  Richardson, Texas 75082

Item 2(c)         Citizenship:  United States of America

Item 2(d)         Title of Class of Securities:   Common Stock, par value $.01

Item 2(e)         CUSIP No.:  349882100

Item 3            Not Applicable

Item 4            Ownership.

                  (a) Amount Beneficially Owned:

                  12,278,190(3)

                  (b) Percent of Class:

                  26.3%(2)

                  (c) Number of Shares as to Which the Person Has:

                           (i)      sole  power to vote or to  direct  the vote:
                                    12,278,190(3)

                           (ii)     shared  power to vote or to direct the vote:
                                    0

                           (iii)    sole  power  to  dispose  or to  direct  the
                                    disposition of: 12,278,190(3)

                           (iv)     shared  power to  dispose  or to direct  the
                                    disposition of: 0

Item 5            Ownership of Five Percent or less of a Class.

                  Not Applicable


(1)      Includes 3,660,006 shares in grantor retained annuity trusts.
(2)      Based on 46,625,401  shares issued and  outstanding  as of December 31,
         2003.
(3)      Includes  1,786,387  shares  owned  by  Lynne  Kartsotis,  wife  of Tom
         Kartsotis,  as to which Mr. Kartsotis disclaims  beneficial  ownership,
         and 21,987  shares owned by Mr.  Kartsotis as custodian for Annie Grace
         Kartsotis, a minor.




Cusip No. 349882100                                                  Page 4 of 4


Item 6            Ownership  of More than  Five  Percent  on  Behalf of  Another
                  Person.

                  Not Applicable

Item 7            Identification  and  Classification  of the  Subsidiary  Which
                  Acquired  the  Security  Reported  on by  the  Parent  Holding
                  Company.

                  Not Applicable

Item 8            Identification and Classification of Members of the Group.

                  Not Applicable

Item 9            Notice of Dissolution of Group.

                  Not Applicable

Item 10  Certification.

                  Not Applicable

Signature

         After reasonable  inquiry and to the best of my knowledge and belief, I
certify that the information  set forth in this statement is true,  complete and
correct.


Date: January 22, 2004.


Signature:        /s/ Tom Kartsotis
           -------------------------------------