<?xml version="1.0"?><?xml-stylesheet type="text/xsl" href="../4_X02.xsl"?><ownershipDocument>    <schemaVersion>X0202</schemaVersion>    <documentType>4</documentType>    <periodOfReport>2008-03-19</periodOfReport>    <issuer>        <issuerCik>0000883569</issuerCik>        <issuerName>FOSSIL INC</issuerName>        <issuerTradingSymbol>FOSL</issuerTradingSymbol>    </issuer>    <reportingOwner>        <reportingOwnerId>            <rptOwnerCik>0001389113</rptOwnerCik>            <rptOwnerName>Agather Elaine B</rptOwnerName>        </reportingOwnerId>        <reportingOwnerAddress>            <rptOwnerStreet1>2280 N. GREENVILLE AVE.</rptOwnerStreet1>            <rptOwnerStreet2></rptOwnerStreet2>            <rptOwnerCity>RICHARDSON</rptOwnerCity>            <rptOwnerState>TX</rptOwnerState>            <rptOwnerZipCode>75082</rptOwnerZipCode>            <rptOwnerStateDescription></rptOwnerStateDescription>        </reportingOwnerAddress>        <reportingOwnerRelationship>            <isDirector>1</isDirector>            <isOfficer>0</isOfficer>            <isTenPercentOwner>0</isTenPercentOwner>            <isOther>0</isOther>            <officerTitle></officerTitle>            <otherText></otherText>        </reportingOwnerRelationship>    </reportingOwner>    <nonDerivativeTable>        <nonDerivativeTransaction>            <securityTitle>                <value>Common Stock</value>            </securityTitle>            <transactionDate>                <value>2008-03-19</value>            </transactionDate>            <deemedExecutionDate></deemedExecutionDate>            <transactionCoding>                <transactionFormType>4</transactionFormType>                <transactionCode>M</transactionCode>                <equitySwapInvolved>0</equitySwapInvolved>            </transactionCoding>            <transactionTimeliness>                <value></value>            </transactionTimeliness>            <transactionAmounts>                <transactionShares>                    <value>2500</value>                </transactionShares>                <transactionPricePerShare>                    <value>22.95</value>                </transactionPricePerShare>                <transactionAcquiredDisposedCode>                    <value>A</value>                </transactionAcquiredDisposedCode>            </transactionAmounts>            <postTransactionAmounts>                <sharesOwnedFollowingTransaction>                    <value>2500</value>                </sharesOwnedFollowingTransaction>            </postTransactionAmounts>            <ownershipNature>                <directOrIndirectOwnership>                    <value>D</value>                </directOrIndirectOwnership>            </ownershipNature>        </nonDerivativeTransaction>        <nonDerivativeTransaction>            <securityTitle>                <value>Common Stock</value>            </securityTitle>            <transactionDate>                <value>2008-03-19</value>            </transactionDate>            <deemedExecutionDate></deemedExecutionDate>            <transactionCoding>                <transactionFormType>4</transactionFormType>                <transactionCode>S</transactionCode>                <equitySwapInvolved>0</equitySwapInvolved>            </transactionCoding>            <transactionTimeliness>                <value></value>            </transactionTimeliness>            <transactionAmounts>                <transactionShares>                    <value>2500</value>                </transactionShares>                <transactionPricePerShare>                    <value>32</value>                </transactionPricePerShare>                <transactionAcquiredDisposedCode>                    <value>D</value>                </transactionAcquiredDisposedCode>            </transactionAmounts>            <postTransactionAmounts>                <sharesOwnedFollowingTransaction>                    <value>0</value>                </sharesOwnedFollowingTransaction>            </postTransactionAmounts>            <ownershipNature>                <directOrIndirectOwnership>                    <value>D</value>                </directOrIndirectOwnership>            </ownershipNature>        </nonDerivativeTransaction>    </nonDerivativeTable>    <derivativeTable>        <derivativeHolding>            <securityTitle>                <value>Stock Options (Right to buy)</value>            </securityTitle>            <conversionOrExercisePrice>                <value>42.76</value>            </conversionOrExercisePrice>            <exerciseDate>                <value>2009-01-01</value>            </exerciseDate>            <expirationDate>                <value>2018-01-01</value>            </expirationDate>            <underlyingSecurity>                <underlyingSecurityTitle>                    <value>Common Stock</value>                </underlyingSecurityTitle>                <underlyingSecurityShares>                    <value>4000</value>                </underlyingSecurityShares>            </underlyingSecurity>            <postTransactionAmounts>                <sharesOwnedFollowingTransaction>                    <value>4000</value>                </sharesOwnedFollowingTransaction>            </postTransactionAmounts>            <ownershipNature>                <directOrIndirectOwnership>                    <value>D</value>                </directOrIndirectOwnership>            </ownershipNature>        </derivativeHolding>        <derivativeTransaction>            <securityTitle>                <value>Stock Options (Right to buy)</value>            </securityTitle>            <conversionOrExercisePrice>                <value>22.95</value>            </conversionOrExercisePrice>            <transactionDate>                <value>2008-03-19</value>            </transactionDate>            <deemedExecutionDate></deemedExecutionDate>            <transactionCoding>                <transactionFormType>4</transactionFormType>                <transactionCode>M</transactionCode>                <equitySwapInvolved>0</equitySwapInvolved>            </transactionCoding>            <transactionTimeliness>                <value></value>            </transactionTimeliness>            <transactionAmounts>                <transactionShares>                    <value>2500</value>                </transactionShares>                <transactionPricePerShare>                    <footnoteId id="F1"/>                </transactionPricePerShare>                <transactionAcquiredDisposedCode>                    <value>D</value>                </transactionAcquiredDisposedCode>            </transactionAmounts>            <exerciseDate>                <value>2008-02-12</value>            </exerciseDate>            <expirationDate>                <value>2017-02-12</value>            </expirationDate>            <underlyingSecurity>                <underlyingSecurityTitle>                    <value>Common Stock</value>                </underlyingSecurityTitle>                <underlyingSecurityShares>                    <value>2500</value>                </underlyingSecurityShares>            </underlyingSecurity>            <postTransactionAmounts>                <sharesOwnedFollowingTransaction>                    <value>2500</value>                </sharesOwnedFollowingTransaction>            </postTransactionAmounts>            <ownershipNature>                <directOrIndirectOwnership>                    <value>D</value>                </directOrIndirectOwnership>            </ownershipNature>        </derivativeTransaction>    </derivativeTable>    <footnotes>        <footnote id="F1">Not applicable.</footnote>    </footnotes>    <ownerSignature>        <signatureName>Randy S. Hyne, Attorney-in-Fact</signatureName>        <signatureDate>2008-03-24</signatureDate>    </ownerSignature></ownershipDocument>