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Bloomberg
TAG Heuer, a Swiss watch brand that has bucked the industry’s slump, expects to build on last year’s double-digit sales growth in 2017, supported by an upgraded smartwatch and healthier demand in China, the biggest market for luxury timepieces.
Chief Executive Officer Jean-Claude Biver said on Tuesday his “cautious†forecast is for TAG Heuer’s sales to rise 8 percent to 10 percent in 2017. He was speaking as the watchmaker introduced its $1,650-and-up “Connected Modular 45†timepiece, which carries the Swiss-made label. TAG Heuer, owned by LVMH Moet Hennessy Louis Vuitton SE, is one of the few Swiss watch brands that has introduced a high-end smartwatch to compete with the Apple Watch. The company started up an office in Silicon Valley last month, with about 8 employees so far, Biver said.