Well, it looks like Apple isn’t taking over the wearable tech market without a fight. Rumors have been confirmed that LVMH has been in talks with a tech company to create a smartwatch of their own. As the fashion world has long had a love affair with technology and is already pretty obsessed with the Watch, it’s safe to say that this is a pretty smart move. Yes, we’re all coveting an Apple Watch, but if all that technology can be found in a Dior, Bulgari or Givenchy piece? Consider us sold. And that is what LVMH is banking on.
“There are some talks taking place about a partnership; maybe in nine months, we will have a smartwatch,” Jean-Claude Biver, president of LVMH’s watch division, told the Wall Street Journal. “A smartwatch is very difficult for us because it is contradictory. Luxury is supposed to be eternal—how do you justify a $2,000 smartwatch whose technology will become obsolete in two years?” A valid argument—but a piece that’s marked only slightly higher to account for the luxury element? That could sell. He acknowledges that other brands have tried and failed to emulate Apple’s success in technology (“When Apple does it, it will sell,” he admits), but with luxury watch brands like Bulgari, Hubolt and TAG Heuer under the LVMH umbrella they are at a distinct advantage. Only time will tell if they can give Apple a run for their money, but we wouldn’t bet against them.