Watch brand Fossil has revealed plans to buy wearable tech maker Misfit Inc. for a sum of $260 million USD. Known for making watches both refined and rugged, Fossil's acquisition will give it a firm platform on which to expand into the smartwatch market, following last month's debut of its Fossil Q connected accessories line. This comes after a disappointing third fiscal quarter ending October 3, where net income fell 44.6 percent from $103.7 million USD to $57.5 million USD, and net sales decre...
Fossil Group Set to Acquire Wearable Maker Misfit Inc for $260 Million USD
Hypebeast - 13 Nov 2015 16:36
Watch brand Fossil has revealed plans to buy wearable tech maker Misfit Inc. for a sum of $260 million USD. Known for making watches both refined and rugged, Fossil's acquisition will give it a firm platform on which to expand into the smartwatch market, following last month's debut of its Fossil Q connected accessories line. This comes after a disappointing third fiscal quarter ending October 3, where net income fell 44.6 percent from $103.7 million USD to $57.5 million USD, and net sales decre...
Share this Article
Recommended