Reuters has now recorded LVMH's general manager Guy Semon imaginatively stating that "Smartwatches represent a challenge to the Swiss watch industry that is comparable to the appearance of quartz technology. We cannot ignore this tsunami that is coming closer." Did LVHM say that when Samsung's Gear launched? – Of course not.

For context we go back to our October report where we noted that "Biver's combined statements definitely shows us that behind the scenes at LVMH, there's likely a lot panic over Apple's entry into their long standing territory. You know it's fear because he later admitted that "Others have done smartwatches before, but when Apple does it, it will sell."

Biver told journalists today that "We'll only do it if we can be first, different and unique," he said. He would not say how much the brand would invest in the project, part of a drive to refocus on accessible watches appealing to a large customer base.

Well, for starters, they won't be first, so maybe they should just pack it in while they're ahead. Then again, Biver doesn't seem to be one that is willing to give up that easily – though only time will tell. For now, we can sit back and enjoy seeing the mayhem and pressure that LVMH is now under to produce a smartwatch young consumers want knowing that the tsunami called the Apple Watch is on the way sometime around mid-2015.

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