Fossil enters wearable market with Misfit

misfit_large_81e0616f-c679-48bf-9335-686acefabf05Fossil, the maker of fashionable watches has announced the acquisition of Misfit, a marketer of fitness trackers, for $260 million.

The investment reflects the growing awareness of large watch brands for the highly interesting market of wearable technologies. Texas-based Fossil Group is also the licensee for other labels such as Adidas, Diesel, DKNY and others.

The co-founder of Misfit, Sonny Vu, is said to join Fossil’s top management to support the implementation of Misfit technology into the Fossil line of products.

Misfit, a company with Vietnamese roots, already enjoyed strong financial support at the end of last year, when smartphone manufacturer Xiaomi injected some $40 million.

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