Luxury Swiss brand Zenith has been making watches for more than a century and despite the age of the smart watch, they are still very hot commodities, its CEO Julien Tornare said.
“We sell slightly below 20 thousand watches [per year],” he told FOX Business’ Stuart Varney on Wednesday adding that “we are still very selective and limited.”
Zenith has been around since 1865, and although the industry has seen technological change with the evolution of smartwatches, Tornare, who took over the reigns as CEO in 2017, is taking a completely different approach.
“Smartwatches is more of a tool, more [of] something you’re going to use every day,” he said. “But you know a smartwatch is also going to be obsolete, the year after and the year after because technology is changing. Mechanical watches in one thousand years, maybe two thousand years, someone can repair them—they will still work.”
Zenith watches are priced around $1,000.