While there has been lots of talk about the opportunities afforded by wearable tech, the only commercial success to date has been Apple’s Watch. Perhaps this is because there are not many players who have the necessary expertise in both the creative and technical disciplines to produce a “smart” product that is also beautiful .
This week, we see a new entrant to the market with LVMH’s Tag Heuer launching a new hybrid luxury timepiece called Connected with added “smarts” created in collaboration with both Google and Intel. The new smartwatch is powered by an Intel Atom processor and connects the user to the online world via Google’s Android Wear platform.
As reported on Business of Fashion and Wareable Tag Heuer’s new watch is currently made at Intel manufacturing sites which is why it cannot bear the prestigious “Swiss Made” tag, and instead makes reference to its Swiss heritage by including “Swiss Engineered” on the watch case.
With the luxury watch suffering a decline in sales, it will be interesting to see if other brands follow Tag Heuer’s lead and look to build partnerships with tech giants to enable them to compete with the likes of Apple.
From a legal perspective these collaborations are usually very interesting and can be challenging from a drafting perspective. It is vital before embarking on a joint product development that each party understands what is expected of them in terms of their contribution, but also what they will each own in terms of the resulting intellectual property and technology. No doubt the tri-partite agreement which enabled the Connected watch to be made would make an interesting read!