An Unconventional Manufacturing Company Is a Major Factor in the City’s Successful Repurposing
In 2013, the city of Detroit filed the largest public-sector bankruptcy in the U.S. history. Its debt totaled $20 billion, stemming largely from its drastic population decline. From its 1.8 million residents in 1950, the current population is reported as 662,000.
But today, its has a new nickname: “Comeback City.”
An iconic driving force in the city’s change of fortunes is the Shinola multibrand collection of products and services. Founded by Tom Kartsotis, who in the early 1980s initiated Fossil watches and, with its retailing offshoot, drove its volume in 10 years to $3.2 billion, adding clothing and accessories ...
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