Swiss jeweler de Grisogono and Samsung are teaming up again to release the limited edition Super Luxury Gear S3 smartwatch, according to an exclusive report by the Korea Herald. The two companies have collaborated before, transforming the Gear S2 into a fashionable, diamond-studded smartwatch.

According to the report, a de Grisogono official confirmed at the Conde Nast Luxury Conference that the company is working with Samsung to develop its next-generation smartwatch. Back in March, the two companies unveiled the blinged-up Gear S2 smartwatch, which flaunts more than 100 black and white diamonds, a sleek rose gold bezel and de Grisogono's signature galuchat black bracelet.

The limited edition Samsung Gear S2 by de Grisogono, which is priced at a whopping $15,000, has been received positively worldwide, and is especially popular among the rich. A de Grisogono official told Korea Herald that more than 100 units are being carefully handcrafted each month to satisfy the demand.

Samsung's expertise in developing high-end technology, combined with de Grisogono's luxury craftsmanship and glamorous branding, has created a special Gear S2 edition that is both functional and elegant.

Younghee Lee, executive vice president of global marketing at Samsung Electronics' mobile communications business, said that their partnership with de Grisogono aims to mix technology and style in creating a smartwatch that is as unique as the wearer.

Fawaz Gruosi, de Grisogono founder and creative director, also expressed his excitement about the project.

"The resulting Samsung Gear S2 by de Grisogono clearly embodies all of our boldness in watch design and our jewelry savoir-faire, while maintaining all of Samsung's technological capabilities and intuitive usage," Gruosi said.

There is no official release date yet, but industry watchers say it is likely that the Super Luxury limited edition Samsung Gear S3 will debut at Baselworld 2017 in March next year. This is in line with the September release of the standard Gear S3 at IFA 2016 in Germany.

Samsung is not the first company to partner with prestigious brands in creating luxurious wearables. Apple has earlier teamed up with Hermès, releasing the Apple Watch Hermès collection with prices that start at $1,100. Other companies such as Intel, Sony, Google and LG Electronics have also released their own luxury smartwatch versions and made them available to consumers everywhere.

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