The Importance Of Wearable Technology In Fashion

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The emerging wearable technology developments and the looming ethical fashion smart wearable market growth has the significant impact on regional and global economic growth. The valuation of an ethical fashion smart wearable BGSS at its inception is a cen-tral matter to fashion industry stakeholders, especially to investors and entrepreneurs. Generally, a convenient method of evaluation from the investor perspective, which is ac-cepted among entrepreneurial practitioners, is to better manage negotiations between in-vestors and founders. Such biased negotiations are unsubstantiated and speculative for evaluating a BGSS, therefore calibration of EFSW ventures valuation has come into ques-tion. Fashion exists not only in garments but also other…show more content…
Weara-bles are not just ‘used’, they are also ‘worn’. Wearable technology for fashion crosses many disciplines and is defined as the technologies worn close to the body, on the body or even in the body” (Lee et al; 2015). Smart wearable is computational and sensory devices that can sense the user who wears them and/or their surroundings and can have control, com-munication, storage and actuation capabilities (Häkkilä, 2017). Smart wearable is defined as smart textiles (Park & Jayaraman, 2011), smart watches (Xu & Lyons, 2015), smart bracelets (Angelini et al; 2013), smart jewelry and smart accessories (Elmer, 2017) for var-ious applications in the fashion industry and can allow the user to record, monitor his or her time, since the user who wears them and/or their surroundings and can have control, communication, storage and actuation capabilities. New generation smart wearables are malleable, stretchable, adjustable and invisible. They have advanced features and functions embedded with low power consumption and high-performance computing power even with energy harvesting. When integrated with mobile communication and internet of everything (IOE) technologies, they can transform from the ‘world of smart wearables into ‘internet of smart wearables'. For the smart fashion wearable (SFW) world, minimalism has…show more content…
223). "Smart", means the wearable needs to contain electronics which may be a sensor and a way of communicating data via wireless. Wearable is a term used for many products such as the watch, bracelet, clothing, and jewelry and needs to be personal. Smart Wearables need real-time connections to send or receive data and do not need to be smart autonomously (Hunn, 2015, p.3). The ethical fashion industry is swiftly emerging and the market opportunity is supposed to be the next grandiose thing. BGSSs like Cicret, OMsig-nal, Ringly, and Beddit are one of the best blends of ethical fashion and smart wearable. Hence the author has coined EFSW acronym to refer to “Ethical Fashion Smart Weara-ble”. The concept of EFSW coined by the author should be seen to unite the terminologies (ethical fashion and wearable technology) used to label the EFSW phenomenon in

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