French luxury goods maker LVMH will launch a rival product to Apple Inc’s Apple Watch costing 1,400 euros ($1,526), Jean-Claude Biver, President of the LVMH Watch Division told German daily Handelsblatt. Initial sales estimates based on U.S. online data suggest the Apple Watch has sold poorly since it was introduced in April, due in part to product shortages and that the overwhelming majority of buyers are for the lower priced Apple Watch Sport.