Fossil Group signs licensing deal with Citizen to launch smartwatches

Fossil Group is teaming up with Japanese watchmaker Citizen to launch a line of hybrid smartwatches -- watches that look analog but actually include a number of digital functionalities. According to the licensing deal, Citizen will manufacture and sell hybrid smartwatches featuring Fossil Group’s technology. The two companies will also work together to “bring future innovation” to the smartwatch category.

“Our partnership with Citizen, the world’s largest smartwatch and movement manufacturer, will enable us to broaden and accelerate the awareness and adoption of hybrid smartwatches”, said Kosta Kartsotis, CEO of Fossil Group, in a statement. “We, Citizen, and Fossil Group will maximize our combined strengths to become leading companies in the smartwatch category”, added Toshio Tokura, President and CEO of Citizen.

Founded 100 years ago, Citizen sells its watches in more than 130 countries. The Fossil Group specializes in accessories. Its portfolio includes several owned and licensed brands selling watches, jewelry, handbags and small leather goods. It holds licenses to brands such as Emporio Armani, Kate Spade New York and Michael Kors, to name but a few.

Photo: courtesy of Fossil Group