Wearable releases from brands continue to increase as consumers adapt to a more connected lifestyle. While technology has been a disrupter, wellness also continues to play a role in technology. Wearables are now starting to lead with design, which we feel will be key with consumers.
The watch market has been tough, Fossil (NYSE:FOSL) acquired Misfit (experts in wearable technology) to introduce connected devices.
Kate Spade (NYSE: KATE) and Michael Kors (NYSE :KORS) have recently released their wearables, made by FOSL, these devices are more fashion led. While we continue to see the Apple Watch struggle despite key collaborations such as with Hermes.
We feel women haven’t taken to the apple watch because they think of a watch as a piece of jewelry- even though it has connected technology. KATE has this area covered with jewelry looking connected devices.
According to CCS Insight, (a provider of market information, analysis and intelligence for companies focusing on the mobile and wireless sector around the world) their new global forecast for wearable devices — which includes smartwatches, fitness trackers, augmented and virtual reality headsets and wearable cameras — indicates the market is set to grow from 84 million units in 2015 to 245 million units in 2019.
We believe for this holiday wearables will be a key gift item.
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