Back in September, L2 Founder Scott Galloway said on Bloomberg TV the hiring of former Burberry CEO Angela Ahrendts was a sign the technology giant planned to enter the luxury space. It’s impossible to lure an executive from a global luxury brand with an offer to run retail stores, Galloway said. (Ahrendts was hired at Apple with the official title of SVP of retail and online stores.) He said Ahrendts would leave her post as CEO only if she knew she could spearhead another luxury brand.
At today’s Apple event in Cupertino, Apple introduced two watches made with 18-karat gold and rose gold. Each had a company logo engraved next to the screen. While Moto, Sony, Samsung and Pebble have all released smart watches, Apple Watch stands out in an effort to be a luxury item rather than a sports watch. L2’s Intelligence Report: Wearables anticipates that smart watches will grow more than 100% by 2018.
Now that the problem of smart watches looking like tech equipment is partially solved, the Apple Watch Edition could be the first of a line of luxury Apple products.