Good luck with that.
This kind of story should probably be accompanied by a press release about what software development team Swatch was buying out if this has any chance of success. Operating systems are hard, user interfaces are harder, user interfaces on screens the size of your wrist are even harder. With an estimated ship date of late 2018 they'll be going up against 3 and 4th generation versions by Apple and Android Wear.
I really feel the best bet for traditional watch makers to follow Nike and Hermès and partnering with Apple to release specialized watches with exclusive bands and custom watch faces featuring the style they each have cultivated.