Boston, MA 09/08/2014 (wallstreetpr) – Consumer fashion accessories designer and distributor, Fossil Group Inc (NASDAQ:FOSL) chip maker Intel Corporation (NASDAQ:INTC) have announced a collaboration wherein they would develop technology in the wearable sector, especially for the fashion industry.
Developing Technology
Both the companies would identify, support and expand promising trends in the wearable technology sector since Fossil has got specialization in fashion accessories and Intel Corporation (NASDAQ:INTC) is known for its innovative technology. Their focus was to work jointly on budding technologies and products, which can be expanded for the fashion-oriented consumer.
On its part, Fossil Group Inc (NASDAQ:FOSL) has committed to working with Intel being a leader in the space while the chip maker would allow iconic fashion brands within its portfolio to partake in wearable technology in the fashion industry.
This apart, Fossil Group would also closely work with Intel Corporation (NASDAQ:INTC)’s global investment organization, Intel Capital, to categorize and calculate co-investments in promising technologies to fasten industry innovation and stay ahead of the consumer trend in wearable technology. Intel Capital has even invested in a broad range of start-ups in the wearable technology, including Basics and Thalmic Labs.
Management Speaks
Fossil Group Inc (NASDAQ:FOSL) Chief Executive Officer, Kosta Kartsotis, said that his company was excited on its collaboration with the chip maker and also working to expand the innovation to the next level in the up-and-coming wearable technology sector. He has expressed his confidence that his company’s fashion lifestyle brands along with the technological expertise, innovation and hardware from Intel would place Fossil as a leader in this space.
Similarly, Intel Corporation (NASDAQ:INTC) Vice President and General Manager of the New Devices, Mike Bell has also expressed his confidence about the combined efforts of both the companies and the ability to design fashion accessories innovatively apart from creating, marketing and distributing worldwide. He said that currently, the focus was on identifying trends and promising uses of technology besides fastening global wearable technology innovation.
