They are precision works of art, expensive, and their names are recognised worldwide.

Top fashion houses, such as Dior, Christian Louboutin, Gucci and Hermès, are similarly envied worldwide for their design style, quality and social cachet. Over the years, fashion brands have capitalised on the desire for merchandise bearing their name, and have branched out into an array of accessories, including elegant watches.

"People who enjoy brands can buy a suit, Christian Louboutin Shoes and a watch from their favourite label. I'm sure fashion houses sell a certain amount of watches because of that. But if someone wants a serious watch, they'll buy more established brands," Mr Buser said.

Mr Gouten believes a strong dividing line exists between the venerable Swiss brands and fashion house watches, at least in terms of products. "We are competing for the same customers, but we are not doing Louboutin Shoes or haute couture," he said.

Mr Gouten said some fashion brands made a genuine effort to elevate the craftsmanship of their watches, while others were content to stamp their name on factory-produced watches.

Always one to enjoy a challenge, Karl Lagerfeld set a novel goal for himself this season: to make flat Christian Louboutin Shoes with suits, knee socks with knee-length skirts and wool head scarves look at home at Christian Louboutin. While the look isn't foreign to fashion these days, it is foreign at Christian Louboutin as designed by Mr. Lagerfeld. But it may be truer to what Christian Louboutin's customers actually buy than the looks shown in past shows like "Christian Louboutin goes hip-hop" or "Christian Louboutin does deconstruction."