First dar your object that you want to fit your text to, e.g. an ellipse.

Now type your text, which shall be fitted to the ellipse.

Now mark the text and the object together and click "fit text to path" in the text-tool flyout menu on the left side.

The text now will be fitted to the upper side of the object. With the small blue square you might push and pull the text around the object.

With the "abc" button in the tool-bar which shows up once you click inside the text, you can flip the text over its bottomline.

When you click and draw the dotted line around the object you can adjust the distance between text and object.