Fossil Group has just added another name to its licensing for watches, and this time its BMW. In a press release today, Fossil Group stated that it has gained the licensing from BMW to create new BMW-branded smartwatches. The deal is good through 2023 and works for both watches and smartwatches. So there is a chance that Fossil Group will make some regular watches that bear the BMW branding, as well as some smartwatches (possibly even some hybrid watches).
Kosta Kartsotis, the chairman and chief executive officer of Fossil Group stated "BMW is one of the most iconic brands in the world. We look forward to bringing our watch design expertise and smartwatch capabilities to BMW enthusiasts around the world." Fossil will be releasing the first collection of BMW-branded watches and accessories in 2019, and they will eventually be sold through more than 4,000 BMW retail channels and key retailers around the world.
Fossil already has licensing for a number of other brands including Michael Kors, Kate Spade, Tory Burch, Puma and many others. Out of all of the traditional watch makers that have entered the smartwatch space, the majority of those watches were built by Fossil Group. Which isn't a big surprise, but it means that the majority of the hardware is the same, with the only difference being the style, which is what sets a brand like Kate Spade apart from something like BMW. But it allows Fossil to produce a ton of different watches, that will suite everyone's taste. Last year, Fossil released over 80 different smartwatches and hybrid watches, when you factor in all of the brands that it makes watches for. Which is pretty impressive, especially considering many smartphone makers are ditching smartwatches. It'll be interesting to see how well the BMW-branded smartwatches and accessories from Fossil work out for both companies.