It's Fossil That Apple Is Threatening

Digital and Smart watches
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It's Fossil That Apple Is Threatening

Post by koimaster » September 20th 2017, 8:40am

Apple CEO Tim Cook’s announcement last week that the Apple Watch has surpassed Rolex as the world’s best-selling watch by value inevitably spawned a new round of hand-wringing about Apple’s threat to the luxury-watch industry. In fact, the Apple Watch has had a dramatic, some say devastating, impact on one segment of the traditional watch industry. But it’s not the luxury segment where Swiss brands reign supreme. That showdown may well come, but it hasn’t happened yet. (More on that in a minute.)

Where it has happened is in the fashion-watch segment populated by designer-label quartz watches priced between $100 and $800. By all accounts, the arrival in April 2015 of the Apple Watch priced at $349, and reduced last year to $299, has rocked the fashion-watch business, especially in the United States. (The new Apple Watch Series 3 announced last week is priced at $399 with a cellular plan and $329 without. The Series 1 watch now drops to $249.) “Apple has played a disruptive role in the fashion watch category,” Ricardo Quintero, president of the New-Jersey headquartered Movado Group told financial analysts in March. (Movado’s announcement two weeks later that it was eliminating Quintero’s position underscored the point.)Arguably, the watch company most disrupted by Apple is the Fossil Group. Texas-based Fossil has been the world’s fashion-watch leader for years. Now, though, it is engaged in a bruising battle with Apple to maintain its share of the combined fashion watch and wrist device businesses. This is no undercard fight. Fossil estimates the size of that market at a staggering $45.5 billion. ... hreatening


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Re: It's Fossil That Apple Is Threatening

Post by SynMike » September 20th 2017, 10:26am

I make my living in designing future technology. I am often a first adopter. But some technologies hold no interest to me because they seem to be technology for technology sake, not for a practical purpose. Sometimes I see people presenting a new product saying "Look what this does, isn't that cool?". My thought is "Cool. But why would I need something to do that?"

The Apple watch holds no interest for me. The practical utility and features don't provide enough value to me to supplant my love for watches. But I utility of smart watches will continue to grow. One day the best selling phones might be smart watches. Who needs the hassle of carrying a phone in your pocket (unless you want a larger screen to surf the web or play games) if it can be the size of Apple watch? Will there be a day when I have an Omega watch on one wrist and an Apple watch on the other? I already have a Fossil activity tracker on my right wrist most days.
Before you criticize a man, walk a mile in his shoes. That way you'll be a mile away and you'll have his shoes.
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