Fossil Group and Intel Announce Collaboration to Develop Innovation in Wearable Technology
September 05 2014 - 04:10PM
Business Wire
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.
Safe Harbor
Certain statements contained herein that are not historical
facts, including future earnings guidance, constitute
“forward-looking statements” within the meaning of the Private
Securities Litigation Reform Act of 1995 and involve a number of
risks and uncertainties. The actual results of the future events
described in such forward-looking statements could differ
materially from those stated in such forward-looking statements.
Among the factors that could cause actual results to differ
materially are: changes in economic trends and financial
performance, changes in consumer demands, tastes and fashion
trends, lower levels of consumer spending resulting from a general
economic downturn, shifts in market demand resulting in inventory
risks, changes in foreign currency exchange rates, and the outcome
of current and possible future litigation, as well as the risks and
uncertainties set forth in the Company’s Annual Report on Form 10-K
for the fiscal year ended December 28, 2013 filed with the
Securities and Exchange Commission (the “SEC”).
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.
About Intel
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 at conflictfree.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.
Investor Relations:FOSSIL GROUP, Inc.Eric M. Cerny,
855-336-7745orICR, Inc.Allison Malkin, 203-682-8225orMedia
Relations:Intel CorporationLaura Anderson,
480-552-9020Laura.m.anderson@intel.comorFossil GroupTheresa
Palermo, 469-730-7065tpalermo@fossil.com
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