LVMH brands continually integrate innovations to develop new products and target new customer segments. Jean-Claude Biver, Chairman and Chief Executive Officer of TAG Heuer and President of the LVMH Watch Division, talks about creation of the TAG Heuer smartwatch. Developed in partnership with Intel and Google, this revolutionary new chronograph will be unveiled on November 9 in New York.
The Swiss watchmaking industry is characterized by tradition and artisanal know-how. Does TAG Heuer really have any legitimacy in creating a smartwatch?
TAG Heuer has been a Swiss avant-garde watch brand since 1860 and innovation is part of our DNA. The brand’s past is marked by numerous inventions and patents in watchmaking and chronometers. At the same time, TAG Heuer is a brand that appeals to a young and dynamic clientele strongly connected to the future. With a price range that starts at €1,200, TAG Heuer is one of the leading accessible luxury watch brands. All these reasons made it quite natural for us to launch the design of a connected watch.
Was it a challenge for TAG Heuer teams to integrate the innovation and technology components of this project? How did you proceed? What were the reactions of your teams?
Right from the outset, we intelligently called on the best specialists to help us take up this challenge. That’s why we teamed with Google, for the Google Wear software, and with Intel, for the microprocessor. It was clear for everyone at TAG Heuer that with this smartwatch we were entering a new segment that required skills that our current teams could not have. So we had no problems internally welcoming this new technology with open arms, especially with partners such as these.
Is adding a smart watch to your portfolio designed to attract new customer segments or strengthen ties with current TAG Heuer fans?
We’re continually seeking to bring new customers to the brand thanks to a broader offering. The smartwatch is clearly part of this conquest strategy. But it’s also obvious that a portion of the current TAG Heuer clientele is attracted by this new product and this new technology as well. So tune in on November 9 to discover this exciting innovation, the first TAG Heuer smartwatch!