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Analyst: Apple Watch could help finally kill off luxury watches

Even though luxury watch sales were already slowing, the Apple Watch could be the final nail in the coffin
By: Michael Hatamoto | Wearable Computing News | Posted: May 11, 2015 10:39 pm

Luxury watch manufacturers already had to deal with slowing sales, largely caused because of the euro, and it looks like the Apple Watch could cause further financial stress.

 

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"That watch business, which was great for the last six years, was slowing down before the [Apple Watch]," said Jan Kniffen, retail consultant, and CEO of J. Rogers Kniffen Worldwide Enterprises, in a statement published by CNBC. "This is the nail in the coffin, the new Apple Watch. I don't think it's taking over the world. But it's a negative to those sellers."

 

Kniffen also said the true market could be for watches from $300 up to $600, and Apple has two models that fit into the price range.

 

The Apple Watch is expected to give the smartwatch market a major boost, with rival manufacturers saying they welcome additional attention. It wouldn't be surprising to see the Apple Watch quickly top the sales charts, but could have a major fight on its hands later down the road.

NEWS SOURCES:Cnbc.com, S3.amazonaws.com

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