Apple Swiped Another Luxury Brand Executive To Work On The iWatch

Apple swiped another senior luxury brand executive to work on the iWatch.

"Tag Heuer, part of luxury goods group LVMH, said on Friday its vice president for sales, Patrick Pruniaux, who had been with the brand for seven years, was leaving on Monday to join Apple. It did not say what his new job would be," according to Reuters.

Apple has not commented on what the media has dubbed the "iWatch" but all signs point to the release of a wearable this fall. The company filed for a trademark of the name "iWatch" in Japan earlier last week.

It is the closest thing to a fashion accessory and luxury good the company has ever attempted.

Pruniaux is only part of the arsenal of executives Apple has rallied for its cause.

Burberry ex-Chief Executive Angela Ahrendts started as its new head of retail and online sales in May, and former head of French fashion brand Yves Saint Laurent Paul Deneve was hired last year to work on special projects.

"I think he was probably head-hunted," a Tag Heuer spokeswoman said of Pruniaux, adding a replacement had already been found.

The affect the iWatch will have on luxury watch brands is unknnown. Some analysts spoke to Reuters about there thoughts.

"I don't believe that an iWatch will be a threat to luxury Swiss watches," said Jon Cox, analyst at Kepler Cheuvreux in Zurich.

"But where I do see some potential impact is at lower, for example below $1,000, price points where there could be a temporary dislocation if there is super high demand for iWatches."

Jean-Claude Biver, head of watch brands at LVMH and chairman of watch brand Hublot, believes more disruption will occur.

"The iWatch will have the same status symbol power as many other Apple products, especially at the beginning," he said. "I personally believe it has the potential to be a threat for the industry, and it should not stay with its arms crossed."