Luxury Swiss watchmaker Hublot has created a $5 million diamond-encrusted ladies’ watch and plans to unveil it next year, Bloomberg reports.

The watch contains as many as 300 carats of polished diamonds, and is more expensive by $2 million than the Big Bang diamond watch model sold this year.

“Women are buying more than men, women are buying more often than men and women are very influential over men, so you have three good reasons to work on this population,” Chief Executive Officer Jean-Claude Biver said in an interview.

Hublot have released in collaboration with Polo Gold Cup Gstaad the limited edition Chukker Bang.

The new watch is inspired by the world of polo, and even developed together with Facundo Piers, who is one of the wold’s best polo players.

Movement is the Swiss automatic Hublot caliber HUB1141 flyback automatic chronograph movement with 59 jewels, 28,800 vph and a power reserve of 42 hours.

Swiss watchmaker Hublot has launched a new diamond-covered 18k white gold Big Bang tourbillon watch, which costs a whopping €2 million ($2.8 million).

The new Hublot Big Bang Watch set in 18 carat gold with a gold Big Bang tourbillion comes studded with as many as 142 carats worth of baguette diamonds, which covers the case, dial, and bracelet.

A total of 637 baguette diamonds along with one rose cut diamond on the crown dress up this masterpiece.

Following on from the Big Bang, King Power and Classic Fusion collections, Hublot is now presenting the fourth new line of watches, entitled Masterpiece.

Imagined, developed and manufactured entirely by the Confrerie Horlogere Hublot, the Master Piece MP-01 is the first Hublot barrel-shaped watch.

Featuring tonneau-shaped design, the movement is built on 43 jewels and comprises 384 parts.

Early this year, Hublot, Swiss watch manufacturer, launch Limited Edition FIFA World Cup Watches.

To commemorate Spain’s historic FIFA World Cup win, Hublot, the official timekeeper, of the FIFA 2010 World Cup has unveiled a new Big Bang watch dedicated to the winning team.

Dubbed FIFA World Cup Winner’s watch, the new creation is done in the Spanish national colors and gold of the FIFA winner’s trophy.

Watchmaker Hublot and the band Depeche Mode are teaming up to offer you a one-of-a-kind deal.

The two have created twelve unique versions of Hublot’s Big Bang that will be auctioned off for the next two and half weeks.

Throughout the 12 watch designs are album artwork featured in landscape form along the 3 and 9 o’clock parts of the watch.