The company's second smartwatch is available in two versions, 41mm and 46mm, to be more accessible to people of all wrist sizes.
Fossil, Skagen, Misfit and Armani Exchange all unveil new wearable devices at CES in Las Vegas
The company's first watch can't run third party apps, but is slick enough to be carried around for a long time.
For $10, those who already bought the Shine 2 can upgrade their device with swim-specific algorithms through an in-app purchase in the Misfit app.
For the time being, Fossil won't kill the Misfit brand as it has unveiled its two new fancy-looking wearable devices at CES in Las Vegas.
The device is basically the Misfit Flash with all of the same activity and sleep tracking features, but with added cadence sensor to make it more bike-friendly.
The watch maker plans to bundle Misfit's technology in Fossil, Skagen and a targeted portion of its portfolio of 16 brands in 2016.
The updated wearable features improved touch responsiveness, faster syncing, extended Bluetooth range, 3-axis magnetometer, and colored 12 lights display.
The wearable was designed with swimmers in mind, featuring proprietary lap counting algorithms to track a swimmer's lap count with industry-leading accuracy.
The company also launched the Misfit Link app that allows users to take a selfie with their phone, control their music, or advance slides in a presentation.