TAG Heuer CEO Biver Cleans House
Half a dozen heads rolled at TAG Heuer as Jean-Claude Biver replaced several top managers in the wake of declining sales. In December, Biver took over as the head honcho of the best-selling watch brand at the luxury group LVMH and has been making his presence known ever since.
Efforts by the brand to aim for a more affluent customer have backfired leading to poor sales. This failed campaign in addition to a general slowdown in the luxury watch industry forced TAG Heuer to slash jobs in both management and production in the fall of 2014. That’s why Biver came in with a plan to get TAG Heuer back to the basics by concentrating on models retailing for $1,500 to $4,000 including best sellers like the Aquaracer and Carrera.