Fossil Group, a $2.5 billion fashion company, acquired Misfit Wearables, a leading designer of fitness tracking apps, for $260 million. Fossil Group via the acquisition of Misfit Wearables is making a first step into a new product category in order to diversify its fashion line. It must be noted that last year Misfit Wearables received funding of $40 million from GGV Capital, Xiaomi, JD, Shunwei etc.
