Bits & Bytes | Fossil Acquires Misfit, Retail's Digital Evolution, Athos Funding

Bits and Bytes is a weekly roundup of the most important news in the fast evolving fashion-tech space.

"Fossil to Buy Wearable Maker Misfit for $260 Million" (Bloomberg) "Fossil agreed to acquire Misfit, a maker of wearable devices, for $260 million to shore up its technology as it pushes into smartwatches."

"Retail Enters Third Phase of Digital Evolution" (The Financial Times) "A battle is raging between technology giants and retailers over who has the most compelling relationship with the customer. The prize will be billions of pounds worth of sales as online retailers, traditional store groups and, increasingly, social media networks fight for a slice of consumers’ spending."

"Athos Pushes Up To $51 Million In The Bank With Funding From Chamath Palhapitaya’s Social+Capital" (TechCrunch) "Athos, one of a handful of startups building out its wearable clothing brand, recently closed on $35 million in Series C financing from a number of investors, including Social+Capital."

"Brands Look Far and Wide for a Niche in Virtual Reality" (The New York Times) "As more devices come to market with the aim of making virtual reality more commonplace, advertisers and agencies hope virtual reality will be the next great medium for persuading consumers to buy stuff."

"The Potential of Geolocation for Revolutionising Retail" (Harvard Business Review) "Many retailers, from Macy’s to Walgreens, are already experimenting with location-sensing technologies, with most of the focus to date on navigation, location based promotional offers, and reviews of nearby products. However, this is just the tip of the iceberg."

"Caeden, a Wearable Tech Start-Up, Introduces a Smart Bracelet" (The New York Times) "Caeden, a wearable tech start-up, thinks that with most smartwatches and fitness accessories, an important first step was skipped: They don’t look like something you would want to wear."