BASEL (Reuters) - Tag Heuer, French luxury group LVMH's biggest watch brand, said on Wednesday it plans to cut prices by between 7 per cent and 13 per cent in some markets following the recent appreciation of the Swiss franc.

Tag Heuer added that it would refrain from raising prices in the euro zone, Japan or Singapore.

There will be an average price reduction of 8 percent in Switzerland, China, the United States, the Carribean, Central America and South America, of 7 per cent in Britain and 13 per cent in Hong Kong, Tag Heuer said in a statement.

"Tag Heuer is seizing the opportunity of the recent appreciation of the Swiss franc to rebalance its international price policy," it said.