Fossil acquires "wearables" manufacturer

Fossil acquires "wearables" manufacturer

Fashion brand Fossil, known for its watches, has struck a deal to acquire the Misfit brand, mostly working on wearables nowadays. Fossil wants to use their technology in their own watches.

Goal: watches that measure activity

Misfit will exchange owners for 260 million dollars (242 million euro). Its most well-known product is the line-up of Shine wearables, which measures the user's activity. That technology is what Fossil now wants to transfer into its own watches, but it remains to be seen whether Fossil will launch its own range of actual smartwatches.

 

Misfit's founder, Sonny Vu, will become Fossil's Chief Technology Officer and will have to take care of the technology's integration within the company structure. Misfit itself will not disappear as a brand as its product range will still be on sale in stores.

 

Fossil is one of the world's most popular watch manufacturers, with more than 50 million Fossil watches sold on an annual basis.

Questions or comments? Please feel free to contact the editors


Ahold Delhaize continues to struggle in Belgium

09/08/2017

Belgian-Dutch supermarket group Ahold Delhaize has had a very good second quarter, with the company thinking last year's merger could result in lower costs than previously anticipated. On the other hand, Belgium's performance is still weak.

Sainsbury’s wants to cut 1,000 jobs

07/08/2017

Sainsbury’s, the second largest supermarket chain in the United Kingdom, is allegedly planning to cut 1,000 office jobs in order to save up to 500 million pounds (550 million euro).

Higher Kraft Heinz profit despite lower turnover

04/08/2017

Food company Kraft Heinz’ second quarter like-for-like turnover dropped slightly, but the American company did manage to seriously enhance its profitability.

Max Koeune becomes new McCain CEO

03/08/2017

Max Koeune will become potato processing company McCain Foods’ new CEO. The Canadian family business revealed the news after its current CEO, Belgian Dirk Van de Put, moved to the world’s largest snack manufacturer, Mondelez.

Worst year for Asda since Walmart acquisition

03/08/2017

To say that British supermarket chain Asda suffered a weak year would be an understatement: 2016 was its worst year since Walmart acquired the chain in 1999.

Belgian CEO for Mondelez

02/08/2017

Food company Mondelez has appointed Belgian Dirk Van de Put as its new CEO, succeeding Irene Rosenfeld who has decided to retire. Van de Put will join the company from McCain Foods, a company that grew more than 50  % during his six-year stint.

Back to top