A new Apple Watch is seen during an Apple event at the Flint Center in Cupertino, California, September 9, 2014. REUTERS/Stephen Lam
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Apple may be known for revolutionising the world of music and mobile phones, but Switzerland's centuries-old luxury watchmakers are unimpressed with the US tech giant's latest foray into their world.The company has meanwhile been treading on the toes of some top luxury brands, plucking the sales director from Tag Heuer, a Swiss brand in the LVMH stable, in addition to former heads of Burberry and Yves Saint Laurent.With pricing set to start at $349 (269 euros), Apple's watch will not be playing in the same league as the Swiss watchmakers who dominate the luxury end of the market.Swatch Group does not break down its earnings by brand, but Vontobel analyst Rene Weber told AFP he estimates the two latter brands account for about 15 percent of its profits.
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