The global watchmaking industry has changed since the introduction of the smartphone and as demand for fitness trackers and smartwatches grow. Legacy watchmakers, like Fossil, have had to adapt and give customers new reasons to keep timepieces on their wrists. The company has been planning for the future by bringing its own smartwatches to market, initiating a multi-year turnaround plan and focusing on growing markets in China and India. But will that be enough?