Apple Watch nail in the coffin for these: Analyst
The Apple Watch won't supplant venerable luxury timepiece makers, but everyday fashion watch makers are in trouble, two former retail executives said Monday.
"The fine, luxury watches, they're being hurt right because of the euro," not because of the Apple Watch, former Saks Chairman and CEO Steve Sadove told CNBC's "Squawk Box" in an interview. "Fashion watches are taking a hit right now. That's sort of a trend we're seeing."
"That watch business, which was great for the last six years, was slowing down before the [Apple Watch]," retail consultant and ex-department store executive Jan Kniffen said. "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."