I don't own any Fossil bags now but my mom had one and I was impressed on how well made and how organized it was. Before I started buying Coach, I used to always look for bags that had lots of pockets and it was hard to adjust when I first started using Coach. Coach seems to spend more time on making their bags pretty rather than functional. It forces you to buy lots of organizing accessories and then you need a bigger bag in order to hold them all.
Awhile ago I needed a checkbook holder but I don't like checkbook wallets so I didn't want to spend much. I bought a leather Fossil checkbook wallet on ebay for under $5. Later, I bought a Coach checkbook wallet but when I compared the leathers, the Fossil was much softer and nicer, so I returned the Coach.
I think that Fossil quality is really good and the price is one quarter of Coach. It may be just my impression but Fossil seems to have a practical non-girly vibe. I don't know if they make anything that can be considered luxury, like something you would want to carry on a special occasion.