After the usual season of introductions at Watches and Wonders Geneva, the team here gets right into the mix of assessing what might be most relevant to collectors and more casual enthusiasts alike. Top of the list on both counts are what happens when there is a new CEO to get to know. If members of the management team are new, there is also the interesting yet tough question of how much credit to assign, and where. Or, conversely, where the brickbats should be directed.
At TAG Heuer, things looked very much like this earlier this year, with Julien Tornare finally announced as the incoming CEO for the brand. We had been waiting for our shot at hearing from him in his new capacity for a little while. The news about his appointment was a poorly kept secret even when Frederic Arnault was merely rumoured to be moving up the food chain. Well, that is all old news now because, by the time you read this, Tornare will be taking the reins at Hublot instead of getting to grips with TAG Heuer. Antoine Pin, former Managing Director of Watchmaking at Bulgari, is the new CEO of TAG Heuer, effective September 1.
This conversation with Tornare took place during WWG earlier this year, and we did not run the story in Summer just because that issue would have been too TAG Heuer-centric. All of this is seriously inconvenient for this story, given that the man guiding us through TAG Heuer’s plans for the year is now facing a different challenge at Hublot. To some extent though, the changes do not make this story an exercise in futility. Tornare succeeded Frederic Arnault at TAG Heuer in a move that was widely seen as recognition of the great results he achieved at Zenith. In a year with few bright spots for LVMH watchmaking, Zenith did more than its share to part the clouds a bit.
A watch brand is certainly more than any one person and Tornare was famous for empowering his team at Le Locle, and he will no doubt continue that wherever he is. More than this, Tornare’s comments about the TAG Heuer novelties this year are really indicative of his particular professional skew. At the time of this interview, he had been CEO for a little over 100 days and most of the watches, if not all, would have started development years before. This is why new chiefs sometimes do not get into product specifics, beyond broad strokes; not Tornare though.
For example, Tornare was really excited about coming launches related to the Aquaracer, which did not figure much in the WWG lineup. He even brough it up without being asked that old pernicious question about what is beyond the horizon for the brand. He was particularly enthused about the fact that the Aquaracer reflected a different part of the TAG Heuer heritage and DNA than we are all used to. Tornare’s excitement here is perhaps interlaced with his own curiosity in learning about the hidden depths of the brand. This was fitting, given that we began our discussion with a note on a watch we did a deep dive on last issue. In any case, Tornare was deeply enthusiastic about TAG Heuer, and we imagine that he will bring that same enthusiasm to Hublot as well. In fact, he almost said as much in our chat.
We are mightily impressed by the Carrera Skiper this year, which you know is our cover for the Summer issue. Tell us your impressions of this watch, in this most precious guise.
You know, I’ve had so many compliments about this watch…it’s not always easy because the game of colors we have between the two counters makes it not so easy always to (add) more colors from (anything outside the dial). And I really like the steel one and I wasn’t convinced at the beginning. When I saw the real product and I put it on my wrist, now I love it. I think it’s super elegant, dressy even, and you get always this great storytelling on sailing. It’s been popular at the fair!
Looking dressy is no mean feat for a sports chronograph! Anyway, let’s talk broad strokes: what are your plans for TAG Heuer? There is a lot of excitement about you, given that you left Zenith in a far better place than you found it.
Thank you (in reference both to our comments about the Skipper and Tornare’s achievements at Zenith)! It’s completely different because at Zenith I had to start from scratch and here at TAG Heuer, it is about getting to the next level. When I joined Zenith and took over, the brand was really in a in a complicated situation. I had to ask what is the brand about (and then reestablish everything for the contemporary situation)….this is not the case at TAG Heuer where all this work has already been done, especially in the last few years. Now we are already going in the right direction and my job is to take it to that next level.
TAG Heuer for me is very well known today. The awareness is strong, desirability is strong – could be stronger in some markets but overall people know a lot about the brand in today’s world, with the celebrities; with the racing; with the cool factor of the brand being very strong. But I want to bring back on stage more of the know-how, savoir faire, heritage and history that are so strong, that people don’t think about (much anymore). They often only see the present time. I think the recipe for success is the balance between (the traditions and history of the brand and the contemporary approach).
Take the Monaco Ratrappante (introduced at WWG). People ask me “Oh, are you going back into high watchmaking? How come?” I say guys, come one, if you look at the past, TAG Heuer was a leader in many of these aspects (of the chronograph complication), including the stopwatches and the rattrapante back in early 20th century. So there is no reason why we cannot go there. And we need to hammer home this pitch and make people understand that TAG Heuer is also a premium watchmaker, you know; it is not only about volume, accessibility and the cool factor. So, this is something that I want to balance in order to generate future growth.
On that note, we were surprised that TAG Heuer had not had a split-seconds chronograph in the collection in something like half a century! Did this surprise you? And why did it take so long?
Yes and no, because I always follow the the evolution of TAG Heuer from my Zenith point of view. So I knew and understood what was happening and what we had to do. And it was coming together step by step. But obviously, TAG Heuer is so strong in chronographs, and again, the split-seconds chronograph is part of our history; you know it called the Queen of Chronograph? It is the most complicated form of the chronograph complication. So, we have to go there and I’m super happy that we did, and that my predecessors developed this collaboration with Voucher. This has helped us to really position this brand at the right place. Remember that there are two things there: one is the split-seconds and the other is about the finishing of the movement.
It is important to consider the finishing, yes. Does this help to explain the price of the watch, which is higher than even the chronograph tourbillon that is already in the collection?
So it’s just about explaining that this piece is sold at actually a reasonable price for what it is, versus what might seem like a high price for a TAG Heuer. But then when you go into the product, it’s a no-brainer. We had discussion on this with some journalists and once they really understood what the product is all about, they understood. It is like our tourbillon too (but in reverse since the issue there had to do with it being priced too affordably). When you have a brand in mind, it occupies a certain price range, and you have difficulties going lower or higher. That’s the whole thing because TAG Heuer has such a spectrum of possibilities that yes, we are going to have Formula One starting at CHF200, then other pieces at CHF2,000, and then the rattrapante and plasma (lab-crown diamonds) watches and these are even more expensive. So we have no problem to play in these different segments because again, that’s where the brand is (aside from the virtues of the product itself, as mentioned).
Still on the rattrapante but also on other projects, TAG Heuer does collaborate with a variety of partners, including Kenissi, Porsche and now Vaucher. Is this part of the plan moving forward?
For me, it’s great because we have expertise in many fields but not in every field. And sometimes we need to make collaborations (for this reason). You have to make sure you get with the best partners and, talking about the rattrapante, we had to go with the Vaucher, which is so well known. I mean, you know what brands they are working with (not typically disclosed unless the partner allows it, but of course, Parmigiani Fleurier is the obvious one) and they do incredible movements. They also give us the possibility to have a very contemporary aesthetic, which was important for us. We didn’t want to make something too old-fashioned or traditional. So, they were the good players and I have to say, I wasn’t there (for the development process), but I heard that the two teams got along so well – they really did. Both sides really felt it was a natural fit and a natural collaboration. So that’s one project. I’m not saying we will not have more because I think the collaboration was extremely smooth and natural.
I recall us discussing the spirit of collaboration when you were at Zenith as well, but in terms of getting ideas to improve the company and the products from everyone. Is this a practice you will be bringing to TAG Heuer too?
Yes, because that’s my own conviction and my own management style. You know, each of us, we have our own touch. And for me, it’s always been about the team; it’s about creating the right environment for people to perform well. I really believe in that and I think that is one of my skills – managing teams and getting them to perform together in good spirits. You know, from the time we had the kick-off meeting (for TAG Heuer at WWG), I basically gave them objectives and have been demanding; I’ve been pushing hard but more than that, I told everyone that I want them to enjoy themselves and have fun. I want the TAG Heuer booth to show the whole industry that we have the best team! This is very important because the (spirit of camaraderie) is contagious and the vibe is so important. Sometimes people underestimate the power of the vibe and for me then, but I know it from my start with Zenith. People were a bit down when I started there but by the end, it was one of the strongest teams. Obviously, I will do the same thing here (even though the starting scenario is not the same).
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