Fossil Group Inc. said its launch of 100 wearables products now will be available in 40 countries and more than 20 languages by the holiday season.
The wearable products will feature display and non-display watches and trackers. The company said in January that it would introduce more than 100 wearables product for different brands. Those brands now number eight: Chaps; Diesel; Emporio Armani; Fossil; Kate Spade New York; Michael Kors; Misfit and Skagen.
Fossil said the categories of wearables to be offered would vary by brand. The accessories firm said it would support the wearables with unique and branded apps across the brands, three product categories and two operating systems.
Greg McKelvey, chief strategy and digital officer for Fossil, said the industry has been slow to adapt to growing consumer desires for styles and options, noting that an advantage a fashion company has over “traditional consumer electronics manufacturers is our product cycle.” He explained that fashion firms such as Fossil can work with the speed to market concept to meet the retail sector’s seasonal new product deadlines.
Fossil’s push into wearables is recent, and much of its ability to enter the market has to do with its $260 million acquisition of Misfit Inc. last November. Misfit’s wearable technology platform, including proprietary power management technology, will be deployed across the entire Fossil Group brand portfolio. Fossil said it will continue with its partnerships with third-party technology partners, such as Google and its Android Wear platform, to grow the firm’s short- and long-term wearables strategy.
Fossil said in February when it posted fourth-quarter results that it expects the operations of Misfit to be dilutive to 2016 results. For fiscal 2016, the company forecast net sales in the range of a 3.5 percent decline to a 1 percent increase. Diluted earnings per share was guided to between $2.80 and $3.60.