Retail in Asia

In Sectors

Fossil, Intel to develop wearable technology for fashion

Fossil Group Inc. and Intel Corporation recently announced a collaboration agreement to develop wearable technology for the fashion industry.

The two companies said they will work together on emerging products and technologies that will be developed for the fashion-oriented consumer.

Fossil’s goal is to enable iconic fashion brands within the company’s portfolio to use wearable technology in a fashionable way. Meanwhile, Intel said it will focus on identifying trends and emerging uses of technology and accelerating wearable technology innovation worldwide.

"Combining our fashion lifestyle brands with Intel’s expertise in technology, hardware and innovation will position us to be a leader in this segment,” said Kosta Kartsotis, Chief Executive Officer of Fossil Group.

Fossil Group will also work closely with Intel Capital, Intel’s global investment organization, to identify and evaluate co-investments in emerging technologies to accelerate industry innovation and stay at the forefront of the wearable consumer trend. Intel Capital has invested in a wide range of start-ups in the wearables space, including Thalmic Labs and Basis.

Fossil has a strong retail presence globally, with 400 retail locations, 4,000 wholesale locations and 13,000 employees worldwide.