Wilmington-based Reeds Jewelers is collaborating with LG Electronics to introduce what the partners are calling a “premium limited-edition smartwatch,” the companies announced this week.
The watch, the LG Watch Urbane Luxe, will be sold only through Reeds. It is available immediately for pre-order and will be delivered to purchasers starting in October, Reeds' spokesman Mitch Cahn said Thursday.
“Because of the intensive craftsmanship required for each watch, only 500 of these watches will be produced, each individually numbered and accompanied by a signed certificate of authenticity,” a news release stated. Cahn added that each watch will be assembled to order.
The 23-karat gold LG Watch Urbane Luxe with a handcrafted alligator leather strap will retail for $1,195.
"Wearable technology is definitely on consumers' minds," Cahn said. "I know we took the idea [of a luxury smartwatch] to LG. Their Urbane has been on the market for about six months, but Reeds saw the need for customers to have a luxury version of that watch."
Apple was first to market with its smartwatches, which became available on April 24 of this year, according to the company's website. The Apple smartwatch comes in three versions, including a luxury watch that retails for about $10,000.
The luxury end of that market is an emerging niche, with Swiss luxury watchmaker Tag Heuer announcing the advent of its luxury Android smartwatch earlier this year. According to industry media reports, its product will be available for delivery in October or November.
The Urbane Luxe will be on display Friday through Wednesday at the IFA 2015, the release stated. The IFA, held this year in Berlin, Germany, is a major European exhibit of new consumer electronics.
The Urbane Luxe "stands on its own" for luxury and craftsmanship, while also having exceptional functionality as a smartwatch, according to Reeds Jewelers president and CEO Alan M. Zimmer.
"Our customers are looking to make a personalized and unique statement with their choice of watches, and the LG Watch Urbane Luxe marks the evolution of smartwatches into the fashion-forward world of jewelry and fine timepieces," Zimmer said in the release.
Wearable devices should be considered an extension of the wearer, said Chris Yie, vice president and head of marketing communications for LG Mobile Communications Co.
"This blending of craftsmanship and technology is a natural evolution of the smartwatch, which is becoming more of a lifestyle accessory than a piece of hardware,” Yie said in the release. “We think this is a good direction for wearables and we want to encourage this transformation."
