Watch company Citizen inked a deal with Fossil Group to use the latter’s hybrid smartwatch technology, an alliance the pair said aims to expand the global scale and reach of the devices.
Fossil, which brings products to market under brands including Skagen, Diesel, Emporio Armani and Michael Kors, is already active in the hybrid smartwatch market. As a result of the deal, Citizen will manufacture hybrid smartwatch movements including Fossil technology, selling both movements and complete watches to the industry.
In a statement, the companies said they will also collaborate in “bringing future innovation to the smartwatch category”.
Kosta Kartsotis, CEO of Fossil, said: “This transaction is the result of our technology investments and demonstrates the capabilities we’ve developed in the wearables category and the larger watch industry.”
A recent report by Juniper Research suggested hybrid smartwatches will make up more than half of the total smartwatch market by 2022, with growth outstripping that of fully-fledged smartwatches.
Fossil boosted its smartwatch business in November 2015, with its acquisition of wearables company Misfit.Subscribe to our daily newsletter Back