Discovering TAG Heuer’s Amazing Journey: From Barbie to Formula 1, see the spectacular rise in the luxury watch market
Ben Madilynn
TAG Heuer has been making great strides on the luxury watch market. From traditional timepieces through to collaborations with other renowned brands, and even into the world motorsports. TAG Heuer’s innovative approach and commitment towards quality has helped it become a brand that consumers are looking for when they want luxury timepieces.
TAG Heuer has been successful because of its collaboration with Barbie. This unexpected collaboration resulted in the release of a TAG Heuer Carrera limited edition watch that appealed not only to collectors of luxury timepieces but also to fans the iconic doll. This chic watch was designed with Barbie’s signature colours, making it an accessory that appealed to both Barbie fans and watch enthusiasts. The collaboration demonstrated TAG Heuer’s ability to cater to a variety of consumer interests, and also helped solidify its position in the luxury watch industry by creating desirable and exclusive timepieces.
TAG Heuer is also a major player in motorsports and Formula 1, particularly. TAG Heuer is well known for its association with this adrenaline-fueled sport. It has served as official timekeepers at several prestigious races. TAG Heuer can showcase its technological expertise through the creation of specialized timekeeping devices. This partnership aligns TAG Heuer with high-performance, precision and elegance. TAG Heuer, by associating their brand with the speed precision and glamour of Formula 1 have undoubtedly gained recognition on the luxury watch market. They are attracting consumers that appreciate the brand’s commitment to innovation and timeless elegance.
TAG Heuer, according to the CEO of TAG Heuer, is riding a wave fueled by marketing successes and new releases to grow its share of the luxury watch market.
The company is owned by LVMHThe new flagship store opened in Manhattan’s Fifth Avenue as part of the rapid expansion that is taking place in the U.S. It plans to more than double its boutiques in the U.S. to 50 by 2026, according to TAG Heuer CEO Frédéric Arnault.
In addition to increasing sales, boutiques allow brands to have a more direct relationship with customers than they would if they relied on department stores and third-party retailers.
“This is a big shift in the last five years and that will continue in the next five to 10 years,” Arnault, a 28-year-old child of LVMH CEO Bernard Arnault and Chairman, said Arnault. “Getting branded stores that we operate ourselves along with e-commerce allows us to nurture direct customer relationships.”
Frédéric Arnault, CEO of TAG Heuer.
CNBC
Those customers have been growing fast since Frédéric Arnault took over as TAG Heuer’s CEO in 2020. During his tenure, the company has focused on its auto racing heritage, particularly Formula 1. surged in popularity Since the Covid-19 epidemic. Max Verstappen, the top-ranked driver and Sergio Perez wear its watches as the official timekeeper and partner of the Oracle Red Bull Racing Team.
Arnault stated that TAG Heuer’s success is due to marketing victories and new products such as the new TAG Heuer Monaco Chronograph Verstappen’s watch, a skeleton dial, is worth more than $10,000.
TAG Heuer has 18-month waiting lists for its top models.
“Demand is a lot stronger than what we had projected,” Frédéric Arnault said. “So that’s what creates the wait list as well. And so we cannot ramp up that fast. Of course, if we want to double production in the next 18 months we can, but we will not do that. We also want to ensure that the value of the watches are maintained over the long term.”
TAG Heuer is growing at a rapid rate LVMH’s goal LVMH is aiming to become the global leader in all luxury categories, including fashion and leather products, wine and spirits, watches and jewelry. LVMH, along with TAG Heuer owns Hublot, Zenith, Fred and the TAG Heuer watch brands. It has also been increasing sales for its Louis Vuitton watches and Bulgari watches. The French company’s watch and jewelry division saw sales increase by 11% from the previous year in the first three months of the current fiscal year, reaching 2.6 billion Euros.
Arnault stated that a recent price correction for pre-owned collectibles watches was good for the market. Prices for trophy watches like the Rolex Daytona and Audemars Piguet Royal Oak, as well as Patek Philippe Nautilus, which surged during pandemics, have fallen by 20% or more since then as online watch sales continue to grow.
“After Covid, there was a very strong growth acceleration, especially in watches,” Arnault said. “We saw a huge surge in secondhand markets, due also to speculation with many resale prices that were increasing. And this has changed in the past six to eight months in the secondhand market and now it has normalized again. I think it’s healthier and we will continue to see some solid growth selling directly from the store.”
TAG Heuer might also benefit from its partnership Ryan Gosling is a popular actor. Gosling has worn a 36mm TAG Heuer Carrera in bright pink as part of the promotion of the new “Barbie” movie. Arnault said “Barbie” The film also features other TAG Heuer timepieces.
“We made sure that there was the right watches present in the movie, ” Arnault said. “Ryan will be wearing some iconic watches that fit well in this universe. The Carrera 36mm in pink has already been nicknamed the ‘Barbie watch’ by our customers.”
