The Fossil Group and Citizen have announced a new licensing agreement to expand hybrid smartwatches worldwide. The partnership leverages Citizen's expertise in making movements using the Fossil Group's advanced hybrid smartwatch technology. Together Citizen and Fossil will collaborate to bring innovation to this sector.
"Given the size and growth of the smartwatch market, Citizen is entering this industry in earnest," said Mr. Tokura, president and chief executive officer of Citizen. "It is with strong determination that we initiate this partnership and enter this category. We, Citizen and Fossil Group, will optimise our combined strengths to become leading smartwatch manufacturers."
