THE RISE OF WEARABLE TECH
HOW THE MARKET TURNED LUXURY
The rise of wearable tech
How the market turned luxury
Wearable tech has in recent years become mainstream, but it doesn’t always look great as a fashion item.
As more brands try to enter the space with ‘luxury’ wearable tech pieces, SHEKINA TUAHENE speaks
to patent lawyer MARK MARFE about how these products come to be and why there is such a desire for
them in the market
50 JEWELLERY FOCUS
vitamin D levels. It tells you when to go outside as well
as when you’ve had enough light exposure – reducing
the risks of sun damage. While many may tend to spend
more time worrying about diets and exercise levels
rather than thinking about vitamin D,
being deficient has been associated
with childhood asthma, cancer,
weaker bones, increased risk of
death from cardiovascular disease
and the ability to think clearly.
The company behind the ring,
E-Senses, is currently seeking
funding for the new offering on
IndieGogo and pre-orders of the ring are
available on the website before its release. As
many tech-based companies are venturing
into jewellery, existing jewellery brands are
becoming aware of the growing segment,
teaming up with tech to help them design
a similar product. Similarly, emerging
tech companies are offering sleek,
attractive products.
However, the linking of a tech company
with a jewellery brand to create a product
like this – like any other contract – does not
happen easily. Mark Marfe, senior associate at Hogan
Lovells law firm, regularly oversees such contracts and
has some insight to how they are conducted and why
luxury wearable tech may be becoming more popular.
With the law company dedicating much of its time
Clockwise from left:
Apple Watch Hermes
(credit Apple.com-uk)
Motiv
Ringly
Senstone
Mangos
Bellaleaf
‘‘
Now, tech
companies
are pairing up
with luxury
brands to
bring out
products
which
perform tasks
you weren’t
even aware
you needed.
‘‘
W
earable tech is nothing new; from
smartphone compatible accessories to wrist
worn step trackers, for every aspect of our
daily lives there seems to be a piece of wearable tech that
can accommodate it.
However, as the market has grown
and people have begun to wear them
on a daily basis, we have now seen a
new influx of luxury and visually
pleasing items which also have a
certain level of functionality. It
makes sense as if one wants to
wear a FitBit on a daily basis, it
won’t be long until it is realised that
the traditional FitBit doesn’t flatter
a smart suit or a cocktail dress.
But with an increasing number
of luxury brands teaming up with
technology firms to make their own
offerings, it is something we may expect
to see more of in years to come. A Forbes article
looking at the future of wearable technology predicted
that the industry will be worth $34bn by 2020. What
this type of accessory is what it is used for is constantly
evolving. Early introductions to wearable tech were
either watch-size versions of your mobile phone or
trackers for sleep and movement. Now, tech companies
are pairing up with luxury brands to bring out products
which perform tasks you
weren’t even aware
you needed.
One of the
newcomers to
the market
is the Helios
Smart Ring,
which
monitors
the amount
of sunlight
you get
in a day
and your
August 2017 | jewelleryfocus.co.uk