Dive Brief:
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The wearable space is getting interesting as Michael Kors and Swatch both revealed plans this week to develop wearables. Swatch is especially keen on taking on Apple Watch directly, which is set to debut in April.
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Michael Kors, which has a licensing deal with Fossil, said it will be developing a high-fashion wearable in the coming months.
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Swatch’s watch will employ NFC, will be mobile payment-ready, work with Windows and Android, and won’t need a charge, the company said. The Swatch wearable will be out in three months.
Dive Insight:
Although wearables is a segment yet to prove itself, there’s a lot of activity ahead of the Apple Watch debut. Jewelry in general is an increasingly important line for Michael Kors’s growth. And Swatch seems determined not to cede any ground as the world’s largest watchmaker just because Apple is muscling in with a wearable just a few months after reporting record-setting iPhone 6 sales.
But while Swatch and the Apple Watch both use NFC, Swatch is not going to work with Apple's iOS, a limitation for sure. And the Swatch will likely have to be significantly cheaper than Apple’s watch to really compete.