It has been nearly two months since
@Fossil announced its decision to exit the smartwatch category. The Gen 6 models that launched in 2021 will be Fossil Watches' last, as the company refocuses its efforts on traditional watches, jewelry, and leather goods under its own and licensed brand names.
Recent
@gapintelligence data shows that Fossil's departure has already started to impact the brand's distribution, as fewer products are available at fewer merchants. Fossil's overall placement share in February was only 1%, down from 3% one year ago. Meanwhile,
@Apple's placement share has grown by nine percentage points to 44% year-over-year. Apple's channel presence has grown more than any other brand by a long shot, with the next-closest gains observed on
@CitizenWatchUS ( 2ppt YoY) and
@Google ( 1ppt YoY).
Apple's leading position also highlights growth in iOS as the brand continues to take share from other operating systems, such as Google WearOS. In February 2024, 31% of SKUs featured Apple iOS, up from 20% the year prior.
Looking ahead as Fossil's smart watches exit US channels, the brand is expected to offer discounts and reduce pricing in an effort to clear lingering inventory.