If this week's IFA 2014 is a true indication of tech innovation, the wearable market is about to get much more saturated. Intel will be entering the market with its new "MICA" smart bracelet, which is being debuted during New York Fashion Week as well.

Mica, or "My Intelligent Communication Accessory," is targeted at women and features a classy, "bejeweled" look.

"As a feminine accessory blending seamlessly into everyday life, Mica ushers in a new era converging fashion and technology by integrating a woman's luxury accessory with technology in order to complement and enhance a woman's work and social life," said Intel in a statement.

While Intel has not released much information about the device, the company says it will allow users to stay connected to their SMS messages, meetings and other general notifications.

The cuff-like smart watch includes a curved sapphire touchscreen in a 1.6-inch display and will be released in two versions. One features a strap of black water-snake skin with Chinese freshwater pearls, and the other is white water-snake skin with tiger's eye gems from Africa.

The device is a joint effort between Intel, Open Ceremony and Barneys.

The device will also feature a 3G antenna, meaning users will be able to make use of it whether it's paired with a smartphone or not. It also will support wireless charging, but users can charge it via USB as well.

Fashion doesn't come cheap, however. Intel has not yet released the actual price of the device, however it has said that it will likely be just under $1,000.

Wearable tech looks set to take off in the next few weeks, with a number of companies preparing to release new wearable devices. Already we have seen devices from Samsung, Sony and LG in the past few weeks, and of course Apple's supposed iWatch come Sept. 9. Motorola is also set to finally release the Moto 360 smart watch in the next few weeks.

Asus also announced its ZenWatch, a new wearable device on Wednesday, which is being hailed as one of the better-looking devices on the market with its premium brown leather wristband and classy design.

Android Wear powers many of the wearable devices being released in the past few weeks, however Intel's new Mica is not one of those devices.