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HP, Michael Bastian team up on new smartwatch

The smartwatch appears to have a rounded design similar to the Moto 360 and will be sold exclusively on this fall.

The HP smartwatch Gilt

Hewlett-Packard is getting into the smartwatch game with help from fashion designer Michael Bastian.

HP has teamed with luxury e-marketplace to launch a smartwatch later this year, the companies announced this week. HP apparently reach out to Gilt about working with a fashion designer on its new smartwatch, according to Fashionista, which earlier reported the news. Gilt brought Bastian into the group to handle design, while HP built the technology behind the new smartwatch, said Fashionista.

Details on the smartwatch's components and software are slim at the moment, but Fashionista was able to pry some details out of the companies. The device's software will work with a round display, like the Android Wear-based Moto 360 , and it will sync with devices running Apple's iOS and Google's Android operating systems. The smartwatch will display notifications and have the ability to control music and check for updates on a wide range of areas.

Unlike most other smartwatches on the market, which are designed by tech companies' in-house staff, HP enlisted the help of designer Michael Bastian to craft the look of its smartwatch. The smartwatch looks very similar to a real watch, featuring a circular dial and three strap options.

It's no surprise that HP is joining the smartwatch fray. While still a developing industry, the wearables market has exploded over the past couple of years. Financial consultancy Deloitte predicts that 10 million units will sell this year, generating a total of $3 billion. What's perhaps most interesting, however, is that the smartwatch doesn't appear to be running on Google's Android Wear OS for wearable devices, meaning it could be based on another as-yet announced platform.

HP and Gilt plan to start selling the smartwatch this fall. Picing has not been announced.

CNET has contacted HP for comment on the smartwatch. We will update this story when we have more information.