Both of them are alike as cheese and chalk. One is a big name in technology while the other is a big name in the fashion industry. So many eyebrows were raised when Intel Corporation (NASDAQ: INTC), one of the biggest names in technology and Fossil Group, another big player in the fashion industry announced their partnership to develop innovative yet fashionable technology for all. It is an indication of the coming future when Technology will intrude into wearable. Of course wearable have to be chic and fashionable to appeal to the consumers. This is where Fossil will come in. Fossil will help to make Intel’s wearable fashionable and appealing to the consumers.
The unlikely tie up will enable both the companies to jointly work on new products and technologies which will be developed specifically for the fashion savvy consumers. Fossil will also work with Intel Capital which is Intel’s global investment arm in order to understand identify and evaluate co-investments in emerging technologies. The association would be immensely beneficial to both the companies and will accelerate the development of innovative technology especially in wearable and will help to be in touch with the latest consumer trends. Intel Capital is already in a partnership with Thalmic Labs and Basis.
Mike Bell, the VP of Intel and General Manager for the New Devices Group 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.”
The partnership has been forced due to demands of consumers who want wearable which are in line with the latest fashion trends. The most happening segment is the smartwatch which has been generally not found wide acceptance with the consumers. Most consumers have been put away by the bulky and geeky design. It needs to be seen how successful this partnership is.