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From 'Barbie' to Formula 1, TAG Heuer is making its mark on the luxury watch market - TL;DR CNBC

From 'Barbie' to Formula 1, TAG Heuer is making its mark on the luxury watch market

Publishing timestamp: 2023-07-12 14:34:44


Summary

TAG Heuer, owned by LVMH, is experiencing marketing successes and new launches. The company has opened a flagship boutique on Manhattan's Fifth Avenue and plans to double its boutiques in the U.S. by 2026. TAG Heuer's CEO, Frédéric Arnault, attributes the company's growth to marketing wins, partnerships with Formula 1 and actor Ryan Gosling, and new products. The company's top models are in high demand, resulting in waiting lists. LVMH aims to become a world leader in the luxury category, and TAG Heuer's growth contributes to this goal. The recent correction in prices for pre-owned collectible watches is seen as healthy for the market. TAG Heuer's partnership with Ryan Gosling, who is promoting the new "Barbie" movie, is expected to further boost the brand.


Sentiment: POSITIVE

Tickers: MC-FR

Keywords: luxurylvmh moet hennessy louis vuitton sewealthbreaking news: businessapparel retailretail industrybusiness newsbernard arnault

Source: https://www.cnbc.com/2023/07/12/from-barbie-to-formula-1-tag-heuer-gaining-in-luxury-watch-market.html


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