Much of the initial interest in the wearable-technology category, when it comes to licensing, has been focused on fitness bands. But smart watches and smart accessories (e.g., smart bands and smart bracelets) have caught up quickly as an area of activity.
Like fitness bands, these devices often monitor exercise accomplishments, calories expended and taken in, and biometric information such as heart rate. But they also have a variety of other functions, including phone calls, texts, and/or alerts; music; smartphone camera control; stopwatches; sports, weather, and financial information; and the like. Some operate in conjunction with a smartphone, via a Bluetooth connection, while others are completely self-contained.
Most of the smart watch- and smart band-related licensing deals to date have involved fashion licensors and licensees. These design partnerships signal a shift in marketing for the category, with style taking precedence over tech-related bells and whistles.
Fashion labels that have teamed with electronics and accessories companies for smart watches include menswear designer Michael Bastian, who joined with HP for a functional timepiece that debuted on Gilt.com in fall 2014, and Kenneth Cole, who licensed Geneva Watch Group for the Kenneth Cole Connect Smart Watch Collection.
Traditional watch companies that already serve as fashion licensees also are entering the smart watch category. Guess Watches, distributed by Guess? licensee Sequel AG, formed a strategic partnership with smart watch developer Martian Watches for a line of voice-command wrist accessories, “powered by Martian.” And Gucci Timepieces (which was a Gucci licensee for 23 years before the fashion house acquired it 17 years ago) paired with singer/entrepreneur will.i.am and his new line of smart bands.
The focus on fashion licensing makes sense, since the addition of a property or brand with strong design associations helps marketers overcome a common critique: that smart watches are clunky and unattractive, no matter how desirable their functionality. The presence of respected designers may help legitimize the category as a whole.
Ultimately—most likely in the not-too-distant future, given the fast pace of change in wearables—licensors from other sectors can be expected to enter the smart watch arena as well. While they will probably not elevate the entire category, as designers might, they will offer a means for device marketers to differentiate themselves from their competition.
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