Technology giant Intel Corporation and watch and apparel company, Fossil Group Inc., announced Friday plans to collaborate on the development of wearable technology for the fashion industry. The companies will monitor and identify trends in the emerging market, and will work on developing products and technologies designed for fashion conscious consumers.
Intel’s global investment organization, Intel Capital, will also be involved in this collaboration, helping Fossil to better compete with other wearable technology brands. Intel Capital has also invested in start-up companies like Thalmic Labs and Basis, both of which have made advancements in the wearable tech realm.
Mike Bell, vice president and general manager of the new devices group at Intel, said, “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.”