(Pocket-lint) - If you don't mind paying through the nose for a new gadget, you'll be stoked to learn Hublot is likely entering the smartwatch space.

Swiss luxury watchmaker Hublot is currently a subsidiary of France's LVMH. Tag Heuer belongs to the same parent company, and it made headlines in the tech world last year when it unveiled the Tag Heuer Connected. The Android Wear smartwatch costs around five times what the new Moto 360 goes for and double what the the gold Huawei Watch costs.

Now, Hublot wants to jump on the smartwatch bandwagon. It plans to create a Swiss watch with connected technology, according to Jean-Claude Biver, the CEO of TAG Heuer and Hublot, who spoke to Bloomberg during an interview at the Baselworld watch fair. The executive was scant on details, naturally, though said a Hublot smartwatch would feature sports-related functions.

Hublot may add smart functions to its Swiss watches in 2017 or 2018, likely making it the next LVMH watch brand to do so, though we don't know for sure if it'll be an Android Wear watch at this point. LVMH-owned Zenith could also add smart functions to its watch lineups, Biver suggested.

All we know is that TAG Heuer is a luxury watchmaker that dropped a $1,500 Android Wear watch last year and had to ramp up production to meet demand. Hublot now seems keen to try its luck - all at a time when Swiss watch exports have posted their first annual decline in years.

Writing by Elyse Betters.