From smart to classic: Fossil Group's moves away from smartwatches
Fossil Group has officially exited the smartwatch market, signalling a strategic shift towards focusing on its core strengths in traditional watches, jewelry, and leather goods. In an announcement, Fossil spokesperson Amanda Castelli explained the decision, citing the significant evolution of the smartwatch landscape in recent years.
The company, known for its prolific production of Wear OS smartwatches, has decided to channel its resources into areas that offer strong growth opportunities. Castelli stated, "Fossil Group is redirecting resources to support our core strength and the core segments of our business that continue to provide strong growth opportunities for us: designing and distributing exciting traditional watches, jewelry, and leather goods under our own as well as licensed brand names."