Fossil Group and Intel Announce Collaboration to Develop Innovation in Wearable Technology
Fossil Group, Inc. (NASDAQ: FOSL) (the “Company”) and Intel Corporation (NASDAQ: INTC) announced today that they will be collaborating to further develop wearable technology for the fashion industry.
Fossil Group, a global design, marketing and distribution company specializing in fashion accessories will partner with Intel, a leader and innovator in the technology industry, to identify, support and develop emerging trends in the wearable technology space. The companies will work together on emerging products and technologies that will be developed for the fashion-oriented consumer. Fossil Group is committed to being a leader in the space and its work with Intel will enable iconic fashion brands within the Company’s portfolio to participate in wearable technology in a fashionable way.
Kosta Kartsotis, Chief Executive Officer of Fossil Group, commented: “We are very excited about collaborating with Intel and working to develop the next innovation in the emerging wearable technology space. Combining our fashion lifestyle brands with Intel’s expertise in technology, hardware and innovation will position us to be a leader in this segment.”
Mike Bell, Vice President of Intel and General Manager of 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.”
In addition, Fossil Group will work closely with Intel Capital, Intel’s global investment organization, to identify and evaluate co-investments in emerging technologies to accelerate industry innovation and stay at the forefront of the wearable consumer trend. Intel Capital has invested in a wide range of start-ups in the wearables space, including Thalmic Labs and Basis.
About Fossil Group, Inc.
Fossil Group, Inc. is a global design, marketing and distribution company that specializes in consumer lifestyle and fashion accessories. The Company’s principal offerings include an extensive line of men’s and women’s fashion watches and jewelry sold under a diverse portfolio of proprietary and licensed brands, handbags, small leather goods, accessories and clothing. The Company’s products are sold to department stores, specialty retail stores and specialty watch and jewelry stores in the U.S. and in approximately 150 countries worldwide through approximately 25 Company-owned foreign sales subsidiaries and a network of over 60 independent distributors. The Company also distributes its products in over 550 Company-owned and operated retail stores, through its international e-commerce websites and through the Company’s U.S. e-commerce website at www.fossil.com. Certain press release and SEC filing information concerning the Company is also available at www.fossilgroup.com.
Intel is a world leader in computing innovation. The company designs and builds the essential technologies that serve as the foundation for the world’s computing devices. As a leader in corporate responsibility and sustainability, Intel also manufactures the world’s first commercially available “conflict-free” microprocessors. Additional information about Intel is available at newsroom.intel.com and blogs.intel.com, and about Intel’s conflict-free efforts atconflictfree.intel.com.
About Intel Capital
Intel Capital, Intel’s global investment organization, makes equity investments in innovative technology start-ups and companies worldwide. Intel Capital invests in a broad range of companies offering hardware, software, and services targeting enterprise, mobility, consumer Internet, digital media and semiconductor manufacturing. Since 1991, Intel Capital has invested more than US$11 billion in over 1,370 companies in 56 countries. In that timeframe, 207 portfolio companies have gone public on various exchanges around the world and 354 were acquired or participated in a merger. In 2013, Intel Capital invested US$333 million in 146 investments with approximately 49 percent of funds invested outside North America. For more information on Intel Capital and its differentiated advantages, visit www.intelcapital.com or follow @Intelcapital.