According to Reuters reported on Friday, headquartered in La Chaux-de-Fonds in western Switzerland, TAG Heuer issued a public statement on December 3, "Stephane Linder, chairman and CEO of the Tag Heuer brand, decided to pursue a new breakthrough in his career Resigned from office today. " Tag Heuer is the largest watch brand under the French luxury goods giant LVMH Group. Stephane has been at the helm of Tag Heuer since June last year, leaving mid-term resignation and will be replaced by three Jean-Claude Biver, who took over as LVMH's head of watchmaking for the month, took over temporarily.
Stéphane Linder was promoted to TAG Heuer President and CEO last June, and was previously its vice president of sales for North America. He is a graduate of the Federal Institute of Technology in Lausanne, Switzerland, and joined the Tag Heuer R & D department in TAG Heuer in 1993. He later served as Vice President of Product Marketing, R & D and Brand Director Marketing and Product Design and was promoted to the current position in 2010. Jean-Christophe Babin, who replaced the 13-year-old Tag Heuer CEO last June, replaced Michael Burke, Louis Vuitton's chief executive, and took over another Bvlgari label, Michael Burke is replacing Jordi Constans who left Louis Vuitton for body reasons.
Through the personnel changes in LVMH Group, we may have a clearer understanding of the future of luxury consumption. Due to the reversal of the luxury consumer market in our country, the market demand has been significantly reduced, the watch industry has also been a certain degree of impact, several groups have also come up with their watch coping strategies. Richemont's Cartier has reduced production hours, and TAG Heuer also issued a statement in October this year that it has laid off 46 employees in Switzerland and suspended its investment in mechanical chronograph movement.
TAG Heuer is seeking to save itself through restructuring, amidst the overall downturn in the luxury goods sector and the continued decline in demand in emerging markets such as China and Russia. In October, Jean-Claude Biver said Tag Heuer will cut 46 management and manufacturing jobs and 49 employees will be partially unemployed until the end of the year, while postponing the launch of the new watch. In addition the brand hopes to expand the entry-level products to attract new consumer groups, and is developing the brand and the group's first smart watch, this smart watch will have a colorful touch screen, while supporting the classic physical pointer dial to cover up Digital performance, the watch may cooperate with well-known technology companies.
Recalling the interview with Stephane Linder when he first took office, the reporter asked what is the main challenge for TAG Heuer. His answer is "First of all, the most important challenge we face is the Chinese market. A large part of the brand turnover comes from China market. The Chinese market has great potential, but our market share in China is very small. If we are successful in China, then at least in ten years we will have a lot of motivation to continue the development. TAG Heuer currently faces the most important challenge .We want to be successful, we must go deep into the brand to understand what kind of product, which is the most suitable spokesman for China, in order to break through the breach to win the Chinese market .We introduced several new this year Table has a high degree of confidence, I believe many Chinese consumers can move.
Due to the new Chinese leader's anti-corruption policy, the high-end watch market was hit in China. Coupled with smart watches menacing, traditional mechanical watches face new challenges. The future trend of high-end watches, smart watches will replace the wrist watch people take the place? Let us wait and see, consumers will give us what kind of answer!