The report comes from French Apple and tech website iPhonote, relaying sources wanting to remain anonymous due to their "involvement at Apple". Although engravings would make sense on something like the Apple Watch, the lack of empty real estate on the device makes it all sound strange.
The design team at Apple have working hard, trying to figure out how to make the Apple Watch design as minimal as possible. The back would be an obvious choice for an engraving, however the rear of the device is almost nearly covered by the heart-rate sensor. This one has me a bit puzzled, any ideas?