Apple may be facing competition in the smartwatch market as luxury products firm LVMH looks into developing one of its own.
The device would be produced in collaboration with another tech company, according to SiliconBeat. Jean-Claude Biver, president of LVMH's watch division, said the company is currently involved in talks about a partnership.
"Maybe in nine months, we'll have a smartwatch," Biver said.
LVMH is known for the high fashion brands it owns, including Louis Vuitton and Givenchy.
The Apple Watch, which made its debut last month, comes with a variety of high-tech abilities, such as letting users make mobile payments, The Wall Street Journal reported.
Watch brands owned by LVMH include Tag Heuer, Zenith and Hablot, a Swiss luxury brand of which Biver is chairman. Biver said he isn't sure which tech company LVMH is looking to team up with for its smartwatch, ruling out the chance that Hablot would have such a device.
"A smartwatch is very difficult for us because it is contradictory," he said. "Luxury is supposed to be eternal ... How do you justify a $2,000 smart watch whose technology will become obsolete in two years?"
Biver added that Apple will have an edge in the smartwatch business because of the tech giant's size, saying that while the device isn't a new concept, "when Apple does it, it will sell."
