My SDK tools to version 24.2 and SDK with Android 4.4W.2 (API 20).
I used Android Virtual Device (AVD) to simulate Android wear devices. but appear error "The skin directory does not point to a valid skin"
Did you choose skin? Do like my captures, It works. Firstly, choose Android x86. Secondly, click ADVANCE SETTINGS to select CUSTOM SKIN DEFINITION.