The fashion design house has only just recently launched its first wearables and is now jumping in faster.
Despite the fact that Misfit remains a startup that has been around for only four years, its successes in wearable technology have caught considerable attention from the industry, to the point that it is now being bought out by the fashion giant, Fossil Group.
Among Misfit’s most popular wearables have been the Shine, Shine 2, link, Flash Link and EKOCYCLE Field Band.
Misfit’s wearable technology has been focused in the highly successful fitness category. It was founded by veterans of the industry such as Sonny Vu, AgaMatrix’s Sridhar Iyengar, a well as the former CEO of both Pepsi and Apple, John Sculley. It has managed to carve such a significant name for itself in this already competitive industry that Fossil Group has been watching it and has now decided to buy it.
The purchase of Misfit will set Fossil up to make some much more sizeable steps into wearable technology.
Recently, Fossil launched the Q Founder based on Android Wear, which was its first ever smartwatch. That said, a partnership with Misfit will make it possible for future wearables from the designer to be able to offer a broader spectrum of different features that consumers may find to be appealing and useful.
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Misfit has been a wearables innovator, making it possible for it to help Fossil to place itself into a more important position within the wearable tech industry as a whole. This is particularly important as Chinese devices makers are now aligning themselves to start to release alternatives to the current options, which will likely appear at a lower price point. Large companies and watchmakers such as Fossil, that are hoping to make and hold an important position in the industry will need to ensure that their products are both stylish and that they will stand apart from the rest of the offerings.
Misfit will bring a number of wearable technology advantages to Fossil, including a spectrum of products, its own devices, its hardware and software engineering team, and a scalable cloud and app platform.