Chip maker Intel and watch manufacturer Fossil Group are going to enter into partnership to being fashionable wearable technology devices.
This would be an amalgamation of Intel’s technological knowledge with Fossil’s design expertise for the development of new range of wearable technology products. Moreover, the merger aims at supporting the growth on these new wearable devices.
Fossil is best known for designer wearable and accessories including watches, wallets, belts and handbags. The company will be making a giant start into the market of wearable technology with a good support of Intel’s technology and engineering capabilities.
The announcement comes days after Intel launched its MICA luxury smart bracelet at this year’s IFA event.
My Intelligent Communication Accessory (MICA) mainly target women audience with its festooned design. MICA will also make its debut at the upcoming New York Fashion Week. Intel teamed up with fashion house Opening Ceremony for MICA, which will be launched for sale through high-end retail firm Barneys New York.
Apart from the wearable technology, Intel and Fossil will also be working together for Intel Capital (the investment unit of Intel) to specify profitable co-investments in the sector while evaluating the current market trends.
According to the experts, the main motive of Intel behind the partnership with Fossil is that the chip maker wants to work with product makers on wearable technology devices without making entry into the industry alone.
Market analysts say the main strategy of Intel is to solely focus on the technology part of the device without giving attention to its marketing as the established brand presence, distribution networks and retail channels of Fossil will help Intel to hit the bull’s eye.