In the luxury watch industry, TAG Heuer is known as THE powerhouse in the sports watch sector. Their target market for the most part are sports enthusiasts, hence their relationships with F1, McLaren, Lewis Hamilton, Maria Sharapova, etc. To the general public, TAG Heuer is known for their magnificent timepieces priced pointed for even the average joe. They have their extremely popular Formula 1 line, priced from $1,100, which has been a hit in the 18-40 age range, as well as the consumer looking for a reasonably priced product from a well known luxury name brand. Though TAG Heuer specializes in sports watches, they still have product to suit even the savviest businessman, with their Carrera and Grand Carrera lines. With their new Monaco V4, they are testing the market to see whether or not consumers are willing to shell out $80,000 on a watch bearing their logo.
Early 2011, in collaboration with McLaren, they produced a product targeted directly to buyers of the new McLaren MP4-12C with the MP4-12C Chronograph. With an annual production exceeding 1,000,000 watches, their demographic is pretty broad. From the US to South America to China, I can guarantee that you will see a TAG Heuer on someones wrist. Interestingly enough, as of early this year, TAG Heuer has requested that their retailers note general demographic information on consumers purchasing their product - including ethnicity and approx. age. This information is crucial in order to further advance themselves with their existing audience as well as in areas where they are lacking.
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