Fashion Approach to Consumer Electronics Products Increases Options and Updates
BASEL, Switzerland, March 15, 2016 /CNW/ -- Chaps, Diesel, Emporio Armani, Fossil, kate spade new york, Michael Kors, Misfit and Skagen will each launch product in the wearables space in 2016, Fossil Group (NASDAQ: FOSL) announced today from its new European headquarters in Basel, Switzerland. More than 100 wearables products – which include display- and non-display watches and trackers – will be available in 40 countries and more than 20 languages by Holiday 2016. The category of wearables offered will vary by brand. Fossil Group will support the wearables with unique and branded apps across all brands, three product categories, and two operating systems. The 2016 launches are part of the company's efforts to bring a fashion-first focus, innovation and an increased variety of products to the wearables industry.
"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," said Greg McKelvey, chief strategy and digital officer, Fossil Group. "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."
With the look, feel and fashion appeal of traditional watches, Fossil Group's digital display watches and non-display watches leverage the company's core competency in making beautiful, quality watches.
Since acquiring Misfit in November 2015, Fossil Group has increased capabilities for the development and production of the technology supporting its wearables products. The company's wearable technology platform includes proprietary power management technology that enables coin cell battery-powered non-display watches and trackers to be deployed across the entire Fossil Group brand portfolio. Without the need for daily, weekly or even monthly charging, the new devices function much more like traditional watches and lifestyle accessories than as typical consumer electronic products that require daily maintenance.
Concurrent with the advancement of Fossil Group's owned technology and research and development capabilities, the company continues its strong partnerships with third-party technology partners, including Google and their Android Wear™ platform, to deliver on the company's short- and long-term wearables strategy.
Fossil Group will this week display Fall products – including wearables, watches, jewelry, leather goods and other accessories – to business partners and media in its new European headquarters in Basel, Switzerland, during the annual Baselworld marketplace show for the world's watch and jewelry industry.
Fossil Group has been a proud member of the Swiss watchmaking community since 2002. Between the company's European headquarters in Basel, a design, development and prototyping center in Biel, a movement manufacturing facility in Manno, Ticino, and a watch case and component manufacturing center in Glovelier, Jura, the company employs nearly 500 corporate staff members in Switzerland. Further, its employee-driven Fossil Foundation has supported more than 45 non-profits across Europe, the Middle East and Africa.
The new, 108,000-square-foot, seven-floor Basel facility was constructed with modern geometric architecture. Three floors of brand showrooms present brand-immersive experiences for each of the company's 17 owned and licensed brands, and a large auditorium and event space provides employees and visitors sweeping views of the Swiss city.
About Fossil Group, Inc.
Fossil Group, Inc. is a global design, marketing and distribution company that specializes in consumer lifestyle and fashion accessories. The Company's principal offerings include an extensive line of men's and women's fashion watches and jewelry sold under a diverse portfolio of proprietary and licensed brands, handbags, small leather goods and accessories. The Company's products are sold to department stores, specialty retail stores and specialty watch and jewelry stores in the U.S. and in approximately 150 countries worldwide through 23 Company-owned foreign sales subsidiaries and a network of approximately 75 independent distributors. The Company also distributes its products in over 600 Company-owned and operated retail stores, through its international e-commerce websites and through the Company's U.S. e-commerce website at www.fossil.com. Certain press release and SEC filing information concerning the Company is also available at www.fossilgroup.com.
SOURCE Fossil Group, Inc.
For further information: Media Inquiries, Ann Jane Draper, [email protected], Investor Inquiries, Eric M. Cerny, FOSSIL GROUP, Inc., (855) 336-7745, or Allison Malkin, ICR, Inc., (203) 682-8225, http://www.fossilgroup.com