Is there any ARM powered development platform for wearables development and integration ?
What kind of features are you after?
Pretty much any evaluation board with ARM Cortex-M microcontrollers can be used for wearables.
For beefier applications, you have some products based on ARM Cortex-A applications processors.
You could also use an existing device that you modify for your development: like an Android Wear smart watch which you unlock.
I am looking for some beefy applications like smart watch environment.
So I'd recommend you take an existing watch and then customise the firmware or simpler do an app.
This is likely to be cheaper and more convenient than finding a bulky EVB.
On top of this, the smart watch will most likely have an accelerometer and you already have the Android debugging bridge you can use to do remote debug.
I am looking for the development environment on the same.
It will be great to receive your recommendation on any such recent smart watches with LTE modem/Wi-Fi/BT integrated.
Rather than apps I am looking for the customization of firmware especially Android Wear.
I haven't see anything specifically on Android wear. Access to it has been limited. It's not to say nothing existis.
There are standard Android alternatives out there from a few suppliers that optimized HW & SW design for the small, low power form factor with standard Android. The WaRP Board is one example. We worked with partners who developed it. Runs Android and features WLAN, BT & BLE, but there is no integrated LTE Modem. Check out www.WaRPboard.org. I believe the board is available to buy for a few sources.
Good luck in finding something suitable.