Fitbit Inc. (FIT) - Get Fitbit, Inc. Class A Report is turning to Adidas AG (ADDYY) to help make sure that its first smartwatch launch is a success with the company announcing a limited edition Adidas branded version of its Ionic smartwatch.
Fitbit says that the Adidas version of the watch will "leverage Adidas' robust performance program expertise."
The Ionic is Fitbit's first smartwatch and will be tasked to compete with Apple Inc.'s (AAPL) - Get Apple Inc. (AAPL) Report Apple Watch which has had a long-standing partnership with Nike Inc. (NKE) - Get NIKE, Inc. (NKE) Report .
Fitbit shares closed up 3.66% to $5.94 on Monday on the news.
More of What's Trending on TheStreet: