Business Model and Wearables: What Convergence and Collaboration in the Area of Connected Objects and Clothing?

Abstract

The general context of our study is that of the emergence of an ecosystem of innovation and business in relation to IT in a world market in full restructuring. We studied the case of the fashion industry to determine how actors interact and how companies seize new business opportunities. Our qualitative research is based on an exploratory approach; an abductive method allows us to go back and forth between literature review, data analysis and interpretation. Traditional industries are subject to strong global competition, and we ask ourselves the following question: in the context of the 4th Industrial Revolution, how do the clothing and fashion industries remain competitive? Should they increase strategies for innovation, creativity, and the integration of new digital technologies? In short, our paper shows how firms are adopting new business models in a digital context. We found that the new business model is based on the use of various skills, the establishment of intersectoral cooperation (IT, design, textiles, health, etc.) and the search for innovations. These elements are at the heart of the strategy chosen to penetrate a niche market that of intelligent objects and garments. These processes are reflected in a dynamic of intersectoral convergence, which provides new avenues for innovation on the basis of new digital technologies.