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Family-owned Patek Philippe and La Montre Hermes, the watch unit of luxury goods group Hermes International SA, don't see smart watches as a threat for their business, their heads said.Swatch Group Chief Executive Nick Hayek said last week that the company, the world's biggest watchmaker, had been approached by several major technology companies for a partnership in smart watches.Swatch Group's Swatch and Tissot brands could be best placed for a partnership in the area, since their ranges are in a similar mass-market price band to the target market for smart watches, said Jean-Claude Biver, head of the watch unit of luxury goods group LVMH.Tissot's Thiebaud said he was not interested in launching a smart watch, citing previous tech-oriented gadgets, such as the Tissot High-T and the Swatch Paparazzi – both of which offered limited computer-type functions and were fruits of a collaboration with Microsoft but did not met with the hoped-for success.
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