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According to sources which spoke with PhoneArena, Motorola is planning to launch the Moto 360 at the same time as the Moto X+1 smartphone, later this summer. Furthermore, both devices will be on their Moto Maker customization site. It is still unknown at this time if/what customizations will be available for the Moto 360, other than which wrist band and color you can pick for the device.
Speaking of that, we know that the phone face will be offered in either black or steel, and that Motorola is planning to offer either a leather band, a rubber band or a metal band in a few color options (although the metal band could be delayed from the first launch). We will keep you apprised as we find out more info.