There were a lot of smiles on the faces of TAG Heuer staff at the recent Watches & Wonders fair in Geneva. Yes, the week-long annual get together of the majority of the watch industry is always something to look forward to, but it helps when things are going well. And at TAG Heuer things are going well, very well, in fact.
The Swiss watchmaker is still riding high off the back of a big year in which it feted its iconic Carrera collection, and now with the recent appointment of the charismatic (and highly-respected) Julien Tornare as its CEO, there is a definite feeling that the famed brand is on a launch pad getting set to rocket into a new stratosphere.
“TAG Heuer is a feel-good brand,” Tornare tells us, “and it is important that the people working and associated with transmit that positive energy.”
A key driver of this energy was the unveiling of TAG Heuer’s outlandish new showpiece: a square-cased TAG Monaco equipped with a rattrapante-baring split-seconds Chronograph, and eye-watering price tag of around AED500,000. This flex of high-level, avant-garde watchmaking was unexpected from TAG Heuer – whose reputation has been built playing in the mid-price range tier – and got most of the fair’s attendees talking. It’s no wonder people at TAG Heuer are smiling.
“Honestly, I can’t take too much credit for the beautiful pieces that we have released this year,” admits Julien Tornare. “Product-wise, the wheels were in already in motion before I joined at the beginning of the year, but what I’ve wanted to implement is my energy and my way of running the brand.”
For an insight of what that entails, you only have to look at TAG Heuer’s LVMH-owned stablemate, Zenith. Following 17-year stint at Vacheron Constantin, the past six years had seen Julien Tornare successfully drive and orchestrate the turnaround and repositioning of Zenith to great acclaim. His new challenge is whether he can do that with the more globally-renowned TAG Heuer.
“It is my job to reposition TAG Heuer as a high-end watchmaker with movements and creativity,” he says. “With all my years in previous brands that are all about mechanical movements, and I’m super happy to see that TAG Heuer is upgrading. We have already started improving the level of finishing, the developments on the movements, and adding products like the new tourbillon. But the key is to upgrade without losing the identity of what we stand for.”
What they stand for is sports watches, and – notably – racing watches. The brand made a lot of noise last year about the redesign of its famed Carrera collection, and it was very well received by watch fans and buyers even though the price point was increased.
“The Carrera is an icon, which makes up a big chunk of our business due to the number of pieces we sell. The redesign saw us add more value to the collection in terms of detail, design and watchmaking prowess,” explains Tornare, “whereas the Monaco is another iconic collection but one that is more limited and high-end. Unveiling it with a spilt-seconds Chronograph complication is a way of showcasing our ability to bring high-end, high-complications to the brand and increase the range of our clients, from first-time buyers right up to real watch aficionados.”
At Zenith, Tonare was credited with waking up the sleeping watchmaking giant and putting it front of mind, for TAG Heuer the challenge is an altogether different one. Already one of the most well-known watch brands in the world, his mission is to remind everyone of its quality as a watchmaker.
“The TAG Heuer brand awareness is very strong,” he explains, “but perhaps people forget about the history and heritage of the savoir flair. I want more people to visit the manufacteuer, I want more people to explore the vintage models – because the history is there, and it will only help further legitimize the brand, which will then allow for us to raise the prices. This is the work that we need to do, and I’m excited.”
Now with his first Watches & Wonders as TAG CEO done, Julien Tornare’s broader vision will begin to unfold over the next year or so. We’re keen to see where it will go, and we’re pretty sure it’ll be done with a smile.