LVMH's TAG Heuer to Step Up Smartwatch Production to Meet Demandby
TAG Heuer to start making 2,000 pieces from 1,200 per week
Company plans extended smartwatch collection in 2016 or 2017
Swiss watchmaker TAG Heuer will increase production of its smartwatch in coming months after receiving requests from retailers, agents and subsidiaries for some 100,000 timepieces, according to LVMH Moet Hennessy Louis Vuitton SE’s watch chief.
TAG Heuer aims to make 2,000 pieces per week, up from a current 1,200, Jean-Claude Biver said in an e-mailed response to questions. Online sales of the Connected Watch will be suspended probably until May or June to give priority to physical stores, he said.
The LVMH watch brand is one of the few high-end luxury competitors that has sprung up in response to the Apple Watch. The watchmaker unveiled the $1,500 smartwatch, modeled after the classic Carrera model, last month, in a partnership with Google Inc. and Intel Corp.
“Considering the success of this single and unique watch, we will develop a collection made out of different varieties, executions and materials at the end of next year or beginning of 2017,” Biver said. The extension could include a gold and a diamond set version, he added.