Apple Inc. is targeting the "geek to chic" market as they work with Swiss watchmaker Swatch.

Analysts initially revealed that Swatch's business would be negatively affected by the looming release of iWatch.

"Swatch is likely to suffer ... from potential multiple compression should Apple launch a particularly compelling smart watch product," Exane BNP Paribas analyst Luca Solca said in a recent study.

If reports are accurate, the largest watchmaker in the world could be benefitting from a potential partnership with Apple.

Apple is pushing to incorporate its iOS, iTunes and Health Kit ecosystem into lines of iWatch to reach out to a bigger market and compete with the rest of smartwatch makers.

Rumor mills also cited of the possibility that Apple could also work with Timex, which is known for its Iron Man brand of fitness watches.

Meanwhile, according to TechCrunch, Apple has received a patent from USPTO indicating a multitude of smartwatch devices.

This supports reports that Apple will be offering more than one iWatch to capture a broader market.

The patent mentions a device called "iTime" that deals with convertible and removable parts from a central unit.

Apple has also reportedly sought an "iWatch" patent in Japan recently.

Apple's iWatch launch will follow on the heels of releases of similar device by Samsung, LG, Motorola and Sony, but the Cupertino-based titan is not just rooting for technology, but also has fashion and luxury in mind.

In fact, Tim Cook's team has just poached big names in the luxury watch and high fashion industry including Patrick Pruniaux from Tag Heuer and Burberry's CEO Angela Ahrendts.

Apple is notorious in establishing its brand through uniqueness and luxury, and this strategy has built them a cult-like following around the world.

They know that smartwatches would not simply be sit on wrists as tech gadgets, but also fashion statements.

Reuters has also reported that Taiwan's Quanta Computer Inc. was tapped by Apple to mass produce the iWatch.