The Alphabet Inc. unit agreed to acquire Fossil Group intellectual property in a bid to boost the search giant’s nascent efforts in the category.

This week, Rent the Runway appoints WeWork president to its board of directors, while Burberry announces the appointment its of chief marketing officer.

Sales of wearable devices nearly doubled last year to more than $300 million and now account for 14 percent of Fossil's watch revenue.

The watchmaker plans to release 300 new products and shutter underperforming stores, after predictions that sales will decline more than eight percent this year.

This week, how Lauryn Morris fused fashion and tech to design Snapchat Spectacles, while Tag Heuer and Fossil go all-in on smartwatches.

The watch and accessories maker posted revenue of $959.2 million in the period, which missed Street forecasts.

BoF compiles the most important professional moves of the week.

Fossil Group Inc. has reported first-quarter profit of $5.8 million.