Louis Vuitton Tuesday unveiled its first smartwatch the Tambour Horizon in a bid to cut into Apple Inc's (AAPL) hold on the wearables market.
The watch was made in conjunction with Alphabet's (GOOGL) Google and Qualcomm Technology (QCOM) and starts at $2,450. It works with both Apple and Android devices, and is the first Android Wear smartwatch that functions in China.
This is important as China is one of Louis Vuitton's biggest markets and also the largest consumer group for watches.
The luxury house, which is owned by LVMH (LVMUY) , is aiming the watch at the "international traveller." Like many of its competitors, it alerts you to your email and texts, counts your steps, has lots of apps.
The Tambour Horizon also offers flight information and city guides for seven destinations, the company said in a statement. The watch will know where you are and will be able to recommend the best restaurants or stores nearby.
It's modeled after the mechanical Tambour line and has a battery life of about a day.
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LVMH shares were down 0.42% at 11:37 CET, changing hands at €215.90. Shares have gained 3.64% over the past three months.
Apple has become the world's second bestselling watch brand, behind Rolex, in two years, according to a report from UBS this month. The wider wearables market now sells 30 million to 40 million items annually, while the Swiss watches industry sells about 28 million, the report said.
The luxury smartwatch market has been growing, Apple already collaborated with Hermes on the Apple Watch, while TAG Heuer, which is also part of LVMH, engineered a connected watch in collaboration with Intel.
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