The partnership is a plus for both companies. It gives each the opportunity to work with each other incorporating the latest technologies is a way so they appeal to those with a fashion orientation rather than simply toward techies, broadening the appeal of the technology to more consumers for Intel, and giving Fossil Group a different demographic to sell its fashion wares. Fossil Group also gains access to Intel’s investment group. so it can see emerging technologies, which it can then incorporate into fashion even before the technology becomes mainstream. This should be a boon for both companies with the current consumer wearable technology trend. Intel recently announced an initiative to improve Parkinsons research with wearable gadgets.
In the press release, General Manager for the New Devices Group and Intel VP Mike Bell noted, “The combination of Intel’s technology and Fossil Group’s ability to design innovative fashion accessories and to create, market and distribute globally is why we are confident about this initiative. We are focused on identifying trends and emerging uses of technology and accelerating wearable technology innovation worldwide.”
Fossil Group CEO Kosta Kartsotis also commented, “We are very excited about collaborating with Intel and working to develop the next innovation in the emerging wearable technology space. Combining our fashion lifestyle brands with Intel’s expertise in technology, hardware and innovation will position us to be a leader in this segment.”
The collaboration will help both companies address the growing consumer demand of wanting stylish wearable technology, rather than simply wearable technology. A good example of this trend is what Beats has done for headphones and where the entire “smartwatch” category is heading. Both have been considered geek-oriented in the past, but are quickly becoming fashion statements. By creating wearable technology which is fashionable enough to wear in itself while having the benefit of cutting edge technology as an added benefit, both companies are hoping the entire segment will explode into a multi billion dollar business.
(Photo courtesy of huangjiahui)