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iwatch frequency tapping angle Swiss watch executives, wrist wrist really come?
Apple is reportedly making strategic moves to strengthen its position in the wearable tech market, particularly as it prepares to launch the iWatch this October. According to recent reports, the company has hired Patrick Pruniaux, a former vice president of sales at TAG Heuer, who previously worked for the luxury watchmaker for seven years before resigning. Although the French luxury group LVMH (which owns Louis Vuitton and other brands) confirmed the hiring, the exact role of Pruniaux at Apple remains undisclosed. His extensive experience in the luxury sector is expected to play a key role in shaping the iWatch's marketing strategy and positioning it as a premium product.
This isn't the first time Apple has tapped into the luxury industry. Last July, Paul Deneve, CEO of Saint Laurent Paris, joined Apple as a vice president, reporting directly to Tim Cook. Later that year, Angela Ahrendts, former CEO of Burberry, also made a high-profile move to Apple, taking on the role of senior vice president of retail and online operations. These hires signal Apple’s growing interest in merging technology with fashion and luxury, aiming to create a product that not only functions well but also appeals to style-conscious consumers.
Smartwatches are not a new concept—Google and Motorola had already captured a significant share of the U.S. smartwatch market before Apple entered the scene. However, Apple's entry is expected to shake up the industry, given its brand power and design sensibility. The company’s previous success with the iPhone showed how it could transform an existing market, and many believe the iWatch could do the same for the watch industry.
Despite Apple’s efforts, some industry leaders remain skeptical about the impact of the iWatch on the Swiss luxury watch sector. Swatch Group, one of the world’s largest watchmakers, has denied any major threat from Apple, claiming the iWatch won’t significantly affect their high-end market. However, analysts like Owen Bernstein of Bernstein Research argue that while the iWatch may not challenge high-end Swiss watches directly, it could attract younger consumers and gradually shift their preferences toward more tech-integrated timepieces.
Jean-Claude Biver, head of LVMH’s watch division and chairman of Hublot, warned that the rise of smartwatches cannot be ignored. “Like all Apple products, the future iWatch will become a symbol of identity,†he said. “We must not stand idly by.â€
Market analysts believe that while smartwatches may not immediately threaten the high-end luxury segment, they could disrupt the mid-range market, especially for watches priced under $1,000. Fossil and Movado have already seen strong growth in recent years, driven by changing consumer preferences and a renewed interest in fashion-oriented timepieces.
Apple’s ability to blend functionality with style could revolutionize the watch industry, much like the iPhone did for mobile phones. As NPDGroup analyst Marshall Cohen noted, “Apple has the power to combine fashion with function.†If successful, the iWatch could potentially quadruple the size of the watch market in just a few years.
While opinions vary on whether the iWatch will significantly impact the Swiss luxury watch industry, one thing is clear: Apple’s entry into the wearable space is forcing traditional watchmakers to rethink their strategies. Whether this leads to collaboration or competition, the next few years will be crucial in determining the future of the global watch industry.