Andre Yoskowitz
30 Mar 2014 14:15
According to the FT, Apple has been trying to poach top Swiss watchmakers from luxury brands in its efforts to bring an innovative smartwatch to market.
Apple is not the only tech giant trying to court watchmakers, however, with at least one company claiming to have seen advances from Apple, Samsung, Google and Motorola. The Swatch Group, the world's biggest watchmaker by volume, says it has little incentive nor want to working with tech companies: "We have been in discussions – not ever initiated by us – with practically all players in smart wearables up until today," Swatch CEO Nick Hayek said. "However, we see no reason why we should enter into any partnership agreement."
Rather, Hayek says, the company is looking to protect their IP for design, longevity and battery life against big tech rivals.
LVMH, the biggest luxury smartwatch maker in the world, recently accused Apple of trying to poach away staff at its Hublot brand, and from several of its part manufacturing companies. "Apple has contacted some of my employees – I saw the emails personally," LVMH President Jean-Claude Biver said. Everyone contacted rejected the proposals.
The Swiss watchmakers see Apple and others as a threat, and rightfully so as a hit smartwatch could take away from their sales and give them a missed opportunity in the market.