Fossil Group to acquire wearable fitness maker Misfit
Fossil announced last year it would enter the smartwatch market to compete with not only the Apple Watch, but also stay relevant as everything becomes connected to the internet. In a surprise move the Fossil group announced it would acquire fitness tracking company Misfit for $260 million in cash and bank debt.
Misfit has long been the underdog to Fitbit and Jawbone, however I’ve always believed the Misfit Shine and Flash were better built devices with smarter software. The company trackers were able to detect when you were sleeping and stop recording when you started walking around in the morning. The other trackers made you push a button to tell the software when you were going to go to sleep and when you were going to wake up. The Misfit trackers aren’t traditionally watches but more of fashion statements that track data.
The Fossil group manufactures watches and jewelry for Michael Kors, Armani, Diesel, adidas, Karl Lagerfeld, Tory Burch and Fossil.
The Fossil group could use the technology and fashion forward design of the Misfit trackers to design and manufacture watches for top brands or even under their own brand names. There first try at smart watches felt over thought, and to technological. Hopefully Fossil will put the technology first than design around fashion for their brands.
Tell us in the comments below what you think about Misfit being bought by the Fossil Group!