In December 2014, TAG Heuer confirmed what many thought was inevitable: The company was in the process of developing its first smartwatch.

The company has been known within the timepiece industry for quite a stretch, and its name has become practically synonymous with some of the greatest watches, the most elegant pieces, to ever adorn wrists around the world. TAG Heuer’s “Swiss Made” label has always presented an obvious indicator of the class and prestige that went into the watch it was attached to. But things are changing.

According to a report published by Bloomberg, TAG Heuer is dropping that Swiss Made label as it moves forward with plans to construct its own smartwatch. The newest device is seen as an obvious, and direct reaction to Apple’s own announcement of the Watch, but Jean-Claude Biver — the interim head of TAG Heuer and LVMH timepiece chief — knows that dropping the label won’t be enough. To get the technology that a smartwatch needs, TAG Heuer has to outsource some of the elements within the device, and that’s where Silicon Valley comes in. And, ultimately, why the Swiss Made label is getting dropped.

“We’re not in the communications industry, Switzerland is not, we don’t have the technology,” Biver, 65, said in an interview at his home near the lakeside city of Montreux last week. “If you don’t have it, you can’t innovate.“

The smartwatch itself is still under wraps at this point, but some of the features the device will carry are known, including a step counter, location tracking and an app that will bridge the accessory to the smartphone. Additional features seem to center on individual apps, which is a change of pace, that focus on individual brands and sponsorships that TAG Heuer has worked with over the years, including sports teams.

Interestingly enough, Biven confirmed in the report that while the company he’s part of is creating a competing product, he still plans on picking up an Apple Watch when it launches this year:

“It’s a fantastic product, an incredible achievement,” he said. “I’m not just living in the tradition and culture and the past, I also want to be connected to the future. The Apple Watch connects me to the future. My watch connects me to history, to eternity.“

Are you looking forward to see what TAG Heuer’s smartwatch looks like, and what features it brings to the table?