LVMH watch chief Jean-Claude Biver announced today that its popular luxury watch line TAG Heuer is pushing ahead with plans for a smartwatch. At a press conference in Switzerland this morning, the executive admitted he had dismissed the threat of wearables, but recently had a change of heart.
"We started on the project about four months ago," Biver told journalists. "We have done several partnerships and might also do acquisitions." Google and Intel are among those rumored to be working with TAG on its smartwatch, which is believed to feature both mechanical actions and digital sensors.