The Apple Watch is preparing to square up to new competition since luxury French group LVMH announced that it is entering the smartwatch market. The group owns heritage watch companies Zenith, Hublot and Tag Heuer and is tapping it's extensive network to create a luxury alternative to Apple's offering. 

Details of the technical and design elements of the watch and its release date are still under wraps but the price point is said to be $1,526. LVMH further explains that they welcomed the introduction of a new class of enthusiastic client seeking quality luxury watches. Stay tuned to Buro 24/7 Middle East for the latest developments on the LVMH smartwatch...