Fossil Group, an American fashion company, has struck a global licensing agreement with BMW for designing, development and distribution of BMW (Bayerische Motoren Werke Aktiengesellschaft) watches and smartwatches for the next five years. The first collection will be available in 2019 and Fossil Group will design and distribute BMW branded watches in collaboration with the BMW team. The collection is sold globally in more than 4,000 BMW retail channels and key retailers in Fossil Group's extensive global network.
"BMW is one of the most iconic brands in the world," said Kosta Kartsotis, chairman and chief executive officer of Fossil Group. "We look forward to bringing our watch design expertise and smartwatch capabilities to BMW enthusiasts around the world."
There is no update on the watch operating system or features as of now, but it is likely that the BMW smartwatches will be based on Google's Wear OS. Fossil is a global design, marketing, distribution and innovation company specializing in lifestyle accessories offering fashion watches, jewellery, handbags, small leather goods and wearables. The company claims to have committed to delivering the best in design and innovation across owned brands, Fossil, Michele, Misfit, Relic, Skagen and Zodiac; and licensed brands, Armani Exchange, Chaps, Diesel, DKNY, Emporio Armani, Kate Spade New York, Marc Jacobs, Michael Kors, Puma and Tory Burch.
Other than the smartwatches, BMW was reported to be developing a virtual reality goggles earlier this year. The glasses are expected to help drivers park cars in tricky spots by making them 'see through' the car.