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Wearable Technology
Marketing ResearchJuly, 2015
How Fashion, Luxury and Activewear Brands Monetize Innovations
Wearable Technology Industry
July 2015
2
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1. Wearable Technology Industry . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3
1.1. What is Wearable Technology? . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 4
1.2. Evolution of Wearables . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 5
1.3. Market Insights . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 6
1.4. Key Players In The Market . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 7
1.5. Crucial Link: Wearable Devices & Applications . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 8
1.6. The Future Family . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 9
2. When Fashion and Luxury Meet Wearable Technology . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 10
2.1. Fashion, Luxury and Wearable Technology . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 11
2.2. Case-Study: Smartwatches . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 12
2.3. Case-Study: Wristbands . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 14
2.4. Case-Study: Jewelry . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 16
2.5. Case-Study: Eyewear . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 19
2.6. Case-Study: Apparel . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 21
2.7. Case-Study: Footwear . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 23
2.8. Case-Study: Handbags . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 25
3. What Is Next? . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 27
Index
Wearable Technology Industry
July 2015
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WEARABLE TECHNOLOGY INDUSTRY
Wearable Technology Industry
July 2015
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Evolution of Wearables
The first smart wearable came into existence during the mid
60’s, but working with wearables was meant applying it to a
small scale activity in the market, at that time. The technology
was admirable but not consumer-friendly. The wearables
were mono-functional in a closed environment - wired, not
upgradable, and the data was stored physically in their own
hard drives.
Past
Present
Wearable computer for cheating at roullette
Keith taft: Wearable Computer for cheating on blackjack
First calculator wristwatch
1960
1970
1980
1990
2000
2010
2015
Computer Backpack, invented by Steve Mann to control photographic equipment
Digital hearing aids, the first digital hearing aids were released to the public
Steve Mann created the first wearable wireless webcam
First bluetooth headset was shipped
C-seriesFirst fully digital pacemaker
Fitbit launched wireless-enabled activity trackers
Nike + Ipod (Sports kit)
Fashionable bluetooth enabled earrings
Google Glass
Apple iwatch
The present wearables era started in the year 2000. Consumer-
friendly devices today are not only well-suited to the body,
are multi-tasking and fully digital, but also have upgradable
softwares. Use of sensors and the data now accessible from
anywhere through cloud base, is a major add-ons. Becoming
more personal day by day, the devices are pursuing a trend to
be more autonomous.
Wearable Technology Industry
July 2015
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Key Players In The Market
In addition to the technology giants of
the era such as Apple, Google and Intel,
Nike shows itself as the leader amongst
sportswear brands. FitBit and Misfit are
making the major contribution as the
important collaborative brands.
Major Market Brands Co Branded - Fashion Brands New Brands
Fashion and luxury brands entered
into the industry by co-branding with
technology companies. Swarovski-
Misfit, Luxottica-Intel, Tag Heuer-
Google are amongst a few, creating
fashionable and luxurious wearables.
Upcoming concerns and needs of
tech-savvy customers enable start-
ups to keep pace with the market.
From earrings and purses to coats and
shoes, the demand for niche smart
devices is only growing.
Wearable Technology Industry
July 2015
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The Future Family
Wearable Technology Industry
July 2015
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WHEN LUXURY AND FASHION MEET WEARABLE TECHNOLOGY
Wearable Technology Industry
July 2015
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The seek of innovation together with the strong projected growth in the wearables industry has pushed many companies beyond
consumer electronics to jump into the market. Amongst those, fashion and luxury brands’ are making efforts towards changing the big
misconception in the market that wearables are not fashionable enough.
Big brands such as Ralph Lauren, Michael Kors and Tory Burch, as well as fashion designers like Amy Winters and Rebecca Minkoff,
have already launched products that can monitor daily heart beats, charge one’s phone or change colour according to the environmental
changes whilst maintaining the aesthetics.
Wearable solar panels, heart tracker jewellery, sound reactor helmets, phone charger accessories and many others seem to take more
aesthetic shapes and designs so that haute tech can be as fashionable as its functionality.
Fashion, Luxury and Wearable Technology
Wearable Technology Industry
July 2015
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Shine, the fitness tracker, is powered by a solar cell as long as it is exposed to the sun or indoor LED and halogen lights.
The tracker composes of a varicoloured aluminium disc which can be worn as a wristband, a pendant or a lapel pin that can also be hung on to the other garments. The brand is also offering three different versions of the product with different prices.
Shine is a passive wearable which is used with health-tracking apps provided by Misfit and others. Users can synchronize the data by simply placing the disc onto smartphone’s touch screen. Double tapping onto Shine, user can also enable the clock feature which again works in synchronization with user’s mobile device.
The jewellery is compatible with iPhone 4S, 5, 5C, 5S, 6, 6+, iPod Touch 5Gen+, iPad 3, 4, Air, Mini, iOS 6.13+, Samsung Galaxy S4, Note3, Google Nexus 4/5, BLE-ready Windows Phone 8.1+.
$169$199$249
Ringly was designed as 8k-gold plated ring that connects with iOS or Android-driven smartphones and discreetly notifies the user about the notifications received on her smartphone.
Depending on the command given, the user is notified by the ring when she receives a call or a text, a reminder alarm or any notification by an app used on the device.
The notifications by Ringly can be customized through 4 vibration patterns and 5 different colours of light. As the rings do not enable user to react to the calls or texts through the jewellery itself, they are placed in the Passive wearable segment.
With 4 different colours of stone-based rings, plus a limited edition of Dive Bar ring made from a semi-precious stone, Ringly is mentioned as a smart fashion accessory and has been featured in Glamous, ABC News, ELLE, BuzzFeed and Fashionista, so far.
$195
Designed to help active women to make healthier choices in their daily routine, Ear-O-Smart is designed as the world’s first smart earrings - patent pending. The inventor company, BiOSensive Technologies Inc. claims that they fill a significant gap in the wearable technology market for women which is accounting for around 51.7%.
Connected to smartphone with Bluetooth 4.0 wireless technology, it allows the wearer to monitor data such as heart rate, calories burned, and activity data during the day.
The starting point of the device is the aesthetics it has in contrast to many other “bulky” wristbands in the market.
Mentioned as futuristic success to be used in any occasion from fitness saloons to formal dinners, favourable comments towards Ear-O-Smart so far appeared in Forbes, BBC, Yahoo News and CBC News, etc.
Not released yet
Swarovski Shine Ringly Ear-O-Smart
Wearable Technology Industry
July 2015
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WHAT IS NEXT?
Wearable Technology Industry
July 2015
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Invisible
Varietyof
Choices
Autonomous
Personalized
MultiFunctional
In the future of wearables industry, data to be gathered will be the main concern
of designs in addition to the smart style of the products. More accurately
gathered data will be provided to the wearer in a more invisible way, which
will both prevent the nerdy look, and will ease the wearability of the device.
Variety of choices will include not only the technologies to gather data, but
also the consumption segments in addition to the ones currently in the
market. Meanwhile, the devices will be upgradable in order to keep pace
with the progressing technology.
The collaborations between technology and fashion will increase as both
industries need to understand each other’s dynamics. But after all, it is likely
to claim that fashion and luxury companies may adopt to the cutting-edge
technologies, with a slow pace.
Whilst autonomous devices will become trendy, the price-range will be low
for both passive and autonomous categories. This will result in the use of
multiple wearables per person.
Consumers with more wearables than ever will need the control in their hands.
In other words, wearables will be working within permission of the wearer.
Upgradable
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