Against the backdrop of what has been another challenging year for the watch industry, not only are TAG Heuer’s sales are up but they have had a 10 per cent increase in revenue and are looking to expand further in China.
The Swiss watch industry has continued to decline, with exports in October falling by 16 percent to 1,677 million, the biggest fall in 2016, and with two years of declining sales. TAG’s bucking of the trend may be in part to the success of its TAG Connected smart watch, which has sold some 50,000 units in 2016 with a goal of selling triple that in 2017.
As a part of their push into China, TAG Heuer have sponsored the China National Space Agency and their Mars Exploration Program, national football team, and the team captain. They opened around sixty points of sale in China this year, including boutiques, and expansion plans will continue in 2017.