The Swiss watchmaker is definitely not best friends with the Apple Group.
The item at the core of the argument; Apple’s iWatch.

Indeed, Swatch believes that the latter will bring confusion with a name that close from the brand’s own iSwatch...

The Swatch Group thus decided to begin procedures against the American company “in every country where the brand is present” explained Serena Chiesura, in charge of communication.

The iSwatch name is already registered in over 80 countries and Swatch intends to protect its product using all the means found necessary.

Source: ATS