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Swiss watchmaker Tag Heuer to launch new smart watch next summer

By Kenny Yeo - on 18 Dec 2014, 10:23am

Swiss watchmaker Tag Heuer to launch new smart watch next summer

Source: Calibre11.

Tag Heuer recently said that it will push ahead with plans for a smart watch to compete directly with the eagerly anticipated Apple Watch. It also said that it has been working on this project for the past four or so months and that it has collaborated with many partners and will even consider acquisitions to speed up its development process. It hopes to launch its new watch next summer.

This is a far cry from its initial stance on smart watches. When Apple first announced the Apple Watch, Tag Heuer's interim CEO Jean-Claude Biver, who also heads the watch division at luxury conglomerate LVMH, reportedly said that it lacked sex appeal and that it looked like "it was designed by a student in their first trimester.”

Biver, who is widely respected in the watch industry for reviving Omega and Blancpain, and for Hublot's current success, has since had a change of mind. "We started on the project about four months ago. We have done several partnerships and might also do acquisitions."

Tag Heuer's VP Guy Semon also said, "Smartwatches represent a challenge to the Swiss watch industry that is comparable to the appearance of quartz technology. We cannot ignore this tsunami that is coming closer."

Fortunately, Tag Heuer who is LVMH's biggest brand in terms of volume, is not new to smart watches. The brand recently launched a special edition of its Aquaracer 72 smart watch for the crew of Oracle Team USA in the America's Cup. They also have experience creating multi-function quartz watches.

Source: Reuters

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