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


Aldi Nord and Aldi Süd collaborate for animal welfare

18/01/2018

Aldi Nord and Aldi Süd will join forces for a unique collaboration: they will launch their own animal welfare quality mark. “Fair & Gut” (Fair and Good) will launch in Germany for poultry products, but steadily expand.

Rewe uses chocolate pudding to see how little sugar is acceptable

18/01/2018

German supermarket chain Rewe has asked its customers how little sugar they can bear. It aims to lower its private label’s sugar levels, but the consumer will decide by how much.

Lidl dials down its American ambitions

18/01/2018

Lidl had hoped to have about a hundred stores in the United States by the summer, but will be forced to adjust its first-year goals. The German chain currently has 49 stores in the United States.

Carrefour looks back on difficult year

17/01/2018

Despite a fourth quarter improvement, French Carrefour has been through a very difficult year. Next week, CEO Alexandre Bompard is expected to set out new guidelines in order to give the retail giant's results a new push.

British supermarket chain Iceland gives plastic the boot

17/01/2018

British frozen food chain Iceland will be the first supermarket chain to cut all plastic packages from its private labels. By 2023, each of its 1,400 private label products will have more sustainable packaging, like cardboard and paper, alternatives to plastic.

AB InBev sells two German beers

17/01/2018

AB InBev has sold German beer brands Diebels and Hasseröder, alongside its breweries, to investment fund CKCF. The new owner wants to invest more in the two beer brands.

Back to top