Wearable technology is providing new products for fashion and fitness brands to sell to an increasingly demanding tech-savvy consumer. Smart jewelry wearables are making their way into stores – and receiving investment – with the launch of numerous rings, bracelets and necklaces which are embedded with GPS and sensor technology and designed to enhance the user experience.
In August 2014 Ralph Lauren announced the Polo Tech Shirt, a sensor-woven fibre t-shirt which analyzes the wearer’s biometric data such as movement, heart rate, stress and intensity. In December last year, when asked if TAG Heurer planned to launch an Apple Watch competitor, CEO Jean-Claude Biver said, “We are working on it.”
Another luxury fashion brand intending on entering the wearable tech fray is Michael Kors, with Chief Executive, John Idol, recently saying, “We will be in wearables. So I will tell you that that is coming from Michael Kors. And we have a whole strategy around it” according to Bloomberg.
Kors is being a more risk-averse approach according to Idol however. “We’re not interested in being the first one to rush to the race,” he said. “What we want to make sure is that we have an ecosystem that our customer really believes in and think[s] they’re viable additions to not only their fashion wardrobe, but also to how they live their life.”
Another example of a luxury brand moving into the wearable tech space.