Here's how one Swiss watchmaker is competing with the Apple Watch

Luxury watch brand Tag Heuer is working on a smartwatch that will be powered by Google's Android Wear software, the company announced on Thursday.

Intel is also collaborating with Tag Heuer on the watch, but there's no information on when the watch will be released or how much it will cost.

The watch will be a computerized version of the company's Carrera watch, according to Reuters, which spoke with the company during the Baselworld watch convention in Switzerland.

If Tag Heuer's smart version of the Carrera watch looks just like its mechanical version, it will have a round watchface unlike the Apple Watch. This would also make it one of several watches powered by Android Wear to come with a round face rather than a square one.

The announcement comes months after Business Insider first reported that Tag Heuer was planning to release a smartwatch.

Tag Heuer Chief Executive Jean Claude-Biver took a slight jab at the Apple Watch when speaking with Reuters, implying that its not a "real" watch.

"Apple will get young people used to wearing a watch and later maybe they will want to buy themselves a real watch," he said to Reuters.

When the Apple Watch was first unveiled, Biver criticized it for having "no sex appeal," according to the AFP. He later came around and called it a "fantastic product."