Companies and Brands
Fossil Wearables: Too Much, Too Late?
Published:
Last Updated:
Fashion accessory maker Fossil Group Inc. (NASDAQ: FOSL) announced Tuesday morning that the company plans to introduce more than 100 new wearable products under eight different brands in time for the 2016 holiday season. Products include display and non-display watches and fitness trackers stamped with Chaps, Diesel, Emporio Armani, Fossil, kate spade new york, Michael Kors, Misfit and Skagen brands.
Fossil said that wearable categories will vary by brand and that the company plans to support the new wearables “with unique and branded apps across all brands, three product categories, and two operating systems.”
Traditional watchmakers have to do something. They are losing business to tech biggies like Apple Inc. (NASDAQ: AAPL) and Samsung that own the market for smartwatches. None of the watchmakers is any kind of force in the fitness tracker business, which includes Fitbit Inc. (NYSE: FIT) and Garmin Ltd. (NASDAQ: GRMN).
But Fossil Group’s chief strategist Greg McKelvey isn’t worried:
One of the distinct advantages of a fashion company over traditional consumer electronics manufacturers is our product cycle. We demonstrate remarkable speed to market, from development to launch, in order to meet the retail industry’s seasonal new product deadlines. The industry has been slow to adapt to growing consumer desires for new styles and options for wearables. With the diversity of major fashion brands we offer, customers will be delighted with the sheer volume of styles and options available when shopping for a wearable that fits their personal style.
24/7 Wall St.Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.
Editors' Picks
