Luxury watchmaker TAG Heuer is planning to launch a smartwatch in order to more directly compete with Apple Watch and other smartwatches, according to a report by Reuters. The company is also open to partnering with technology firms and making acquisitions if necessary in order to get the plans off the ground. At a press conference, luxury goods group...
TAG Heuer planning smartwatch to compete with Apple Watch
Luxury watchmaker TAG Heuer is planning to launch a smartwatch in order to more directly compete with Apple Watch and other smartwatches, according to a report by Reuters. The company is also open to partnering with technology firms and making acquisitions if necessary in order to get the plans off the ground.
At a press conference, luxury goods group LMVH’s watch chief Jean-Claude Biver admitted that the Swiss watchmakers had up until recently dismissed the threat of smart gadgets. TAG has reportedly been pushing ahead with smartwatch plans for the last four months, no doubt sparked by Apple’s rumored and then confirmed entry into the space.
In order to come up with an original product, TAG Heuer is considering partnerships and acquisitions in order to bring something to market next year.
“We started on the project about four months ago. We have done several partnerships and might also do acquisitions,” Biver, head of LVMH watches and TAG Heuer interim chief executive, told journalists at the brand’s headquarters at La Chaux-de-Fonds in western Switzerland.