Apple's smartwatch marks the company's entry into the timepiece industry, Design Trend reported.

However, despite its high-tech features and prominent brand name, the introduction of the Apple Watch is not enough to scare luxury watchmakers.

For Jean-Claude Biver, a Swiss timepiece craftsman, the overall look of the Apple watch is a bit unappealing, Market Watch has learned.

"It looks a little cold, and lacks, for my taste, a bit of personality," he said. "It looks perfect, but perfection sometimes has a lack of sexiness."

"This won't create another crisis for the Swiss watch industry," he continued.

Before the Apple Watch was unveiled and its features were still being speculated upon by various tech reports, industry analysts said the gadget will make a big splash in the market.

Specifically, Mario Ortelli, an analyst for the brokerage firm Bernstein, speculated that about a quarter of Swatch Group's sales and earnings will go down once the Apple Watch is made available to the public.

"The threat is wider than just from Apple and JP Morgan analysts said in a recent study that smartwatches in general could threaten about 30 percent of Swatch's sales, which amounted to 8.82 billion Swiss francs ($9.8 billion) last year," he said.

Jon Cox, the head of Kepler Cheuvreux, said the threatening effect of the Apple Watch is overrated. For him, like Apple's other products, the Watch is a high-tech gadget that comes with numerous features, according to the Wall Street Journal.

Traditional watches, on the other hand, go beyond telling time but also serve as a status symbol, the executive explained.

"I think there's been a lot of focus on the whole threat of smartwatches, I think it's overdone," he said. "Owning a Swiss watch has always been much more than telling time. I don't think this is the existential threat some people assume it is for the Swiss watch industry."