Fossil Group forays into wearable segment in India

Fossil Group today marked its foray into the wearable device market by unveiling a range of connected devices across six of its owned and licensed brands - Fossil Q, Michael Kors Connected, Skagen Connected, Chaps, Emporio Armani and Misfit.

Fossil Group is uniquely positioned to create a broad variety of connected products that appeal to both fashion and the technology minded through its range of smart watches, hybrid watches and fitness trackers.

Inspired by the growing digital influence on the world today, the new wearables infuse technology into traditional timepieces to create devices that brings to life creativity, connectivity and style in a seamless manner.

Customers today are increasingly looking to stay connected to the world around them, with real-time updates about daily activities, curated content and social networks. Wearable technology is not only aiding but leading this growing trend of being constantly connected; the segment has recorded a 41.9percent growth in Q2 2016 as per the International Data Corporation. Fossil Group's foray into the wearable space will further the convergence of fashion and technology while enhancing the consumer's personal style.

The foray will also strengthen the Group's foothold in the Indian market: both through its existing watch distribution (600+ points of sale) and new doors in the consumer electronic and technology channels.

Announcing the launch in India, Jack Quinlan, Senior Vice-President, APAC, Fossil Group stated, "It is our constant endeavor to offer products that not only appeal to our consumers' sense of style but also meet their changing requirements. India is the fastest growing market in the APAC region with a CAGR of more than 40percent. Smart watches are slated to constitute about 40 per cent of wearable devices by the end of 2016 and through the launch of the new range we aim to capture a considerable share of the market. With the growing penetration of digital technology we recognized the need to meet the requirements of the millennial trendsetter".

Sonny Vu, President & CTO, Connected Devices, Fossil Group, explained "Consumers are looking for their wrist-wear to do more, not just tell the time or be a fashion accessory. Fossil Group has invested huge resources across the globe, in some of the finest engineering talent, to bring cutting edge technology to our brands, while preserving and enhancing aesthetics. No one wants to walk around with a calculator-like machine strapped to their wrist!!" He added, "Indians are very passionate about technology, quick to adopt the latest and we believe India will continue to be a key market for us."

With the unveiling of this range of stylish wearables across six of its owned and licensed brands, Fossil Group is prepared to meet the curious needs of this evolving consumer.