Swiss watch makers like TAG Heuer, the biggest brand in luxury goods group LVMH’s watch portfolio, had until recently largely dismissed the threat of “smart” gadgets, but LVMH watch chief Jean-Claude Biver says he had changed his mind on the subject.

Not a big surprise.

Matt Richman’s thoughts on the news:

In order to have even a chance of being as feature-rich as Apple Watch, then, TAG’s smartwatch will have to pair with an Android phone. However, TAG wearers aren’t Android users. Rich people buy TAG watches, but rich people don’t buy Android phones.

I agree.