Former YSL CEO To Launch Apple Fashion Line?

Is former Yves Saint Laurent CEO Paul Deneve developing Apple's wearable technology line? Since news emerged yesterday that he has left the French fashion house to pursue a career in technology, Apple has confirmed that the Belgian businessman has been hired as vice president.

"We're thrilled to welcome Paul Deneve to Apple," the company said, yesterday, in a statement. "He'll be working on special projects as a vice president reporting directly to Tim Cook."

The business of fashion  has suggested that Deneve - who worked at Apple once before between from 1990 to 1997 as sales and marketing manager - has been recruited to develop and launch its wearable technology category -a growing market that the company hinted at in May this year. Items include a rumoured iWatch.

"It's ripe for us all getting excited about," said Apple chief executive Tim Cook. "I think that there will be tons of companies playing in this. I think wearables is incredibly interesting, it could be a profound area."