The burgeoning market for wearables in India will see one more entry soon with the US headquartered Misfit partnering with e-commerce major Snapdeal...
The burgeoning market for wearables in India will see one more entry soon with the US headquartered Misfit partnering with e-commerce major Snapdeal for its range of products. Misfit, which was founded in 2011 with six products under its portfolio, is currently present in 50 countries. It will introduce three products in the activity trackers space.
It was founded Sonny Vu along with John Sculley, the former CEO of Apple and Pepsi, and Sridhar Iyengar, co-founder and former CTO of AgaMatrix. It currently has around 200 people with three fourth of them being based in Asia.
Talking to FE, Christy Le, Misfit’s CFO & COO said, Snapdeal will be its exclusive online dealer and would also partner with offline retailers in a couple of months. This announcement was made at the two day Global Mobile Internet Conference (GMIC) held in Bengaluru.
The wearables market in India has the presence of established companies as well as startups focused on segments like health, safety, fitness, sports, entertainment etc. Le felt that the India is a technology savvy market and expects a good response from the consumers. “We would like to build a community of users in India for our products who will be sort of evangelists and also provide us with valuable inputs,” she added.
Today, Misfit sells more than 50% of its devices outside of US with China being one of the biggest markets. Misfit is looking at coming out with devices which will not just provide data. For example, it has come out with a device which acts as a remote control device for the phone. It is also talking about devices which will provide monitoring functionality like controlling of light or making payments. “If it is only about data then the device will not stay on the body but we want to create stuff where the user feels good about it,” she said.