Technology companies have so far dominated the smartwatch market but traditional watch makers are also eyeing the nascent market. The same week that Apple unveiled the Apple Watch, Tag Heuer, the well known watchmaker owned by French luxury group LVMH, has confirmed its plans to launch smartwatches early next year.
Speaking to Swiss newspaper NZZ am Sonntag, LVMH’s Jean-Claude Biver said, “We want to launch a smartwatch at TAG Heuer, but it must not copy the Apple Watch. We cannot afford to just follow in somebody else’s footsteps.”
Biver went on to say that we will see smartwatches from a number of Swiss watch manufacturers at the Basel watch fair next spring. Traditional watch makers clearly recognize that smartwatches may not account for a significant portion of the overall watch market today but that they will in the coming years.
Biver did not provide any details as to what Tag Heuer has in mind for its new smartwatch.
It will not be Tag Heuer’s first smartwatch. It built a one-off smartwatch for members of the Oracle sailing team last year. It is also behind the Meridiist luxury smartphone.
One thing is sure: Whatever smartwatch Tag Heuer unveils next year, it will be a luxury product with a price to match.
Source : Reuters