Although the Apple Watch might be a total brick, LVMH, the company that owns luxury brands like Louis Vuitton, Givenchy and Tag Heuer, still thinks that it can get the smart watch right, Reuters reports. Jean-Claude Biver, the president of LVMH's Watch Division, said the company plans to make an Apple Watch competitor that will cost $1,500.
Previous reports have pegged Tag Heuer as the LVMH-owned company that will start selling smart watches with a battery life around 40 hours, compared to the Apple Watch's 18. LVMH also owns Zenith and Hublot. Biver believes that despite the competition, the Apple Watch has been a positive because it has rejuvenated interest in the watch category.
However, sales for the Apple Watch have been abysmal, and most consumers have opted for the lowest-priced option, the Apple Watch Sport, according to Reuters. This data has encouraged Biver to focus on lower-priced luxury watches, think somewhere in the €1,500 to €4,500 range, rather than a €6,500 price point. It has not dissuaded him from entering the smart watch category, though.
Maybe the luxury watch brand will have more success than a tech company in making wristwear guys actually want to wear.