Luxury watch brands compete fiercely with each other for market share. What's needed to achieve success in this fight is a strong, meaningful brand.
For many brands that meaning is best created through well-selected sponsorships, which not only demonstrate the attributes that the brand stands for, but also offer design and innovation opportunities.
Recent news is that TAG Heuer and Oracle Red Bull Racing, who have forged a great brand partnership since 2016, and have chosen to continue their bond again with a new contract.
Aligning with motorsport certainly gives TAG Heuer a great platform on which to promote different ranges like their TAG Heuer Carrera collection.
For watch brands, as well as many luxury brands, sponsorships like these are not so much merely a marketing expense; its a vital part of the product value chain.
Without this meaning-making the product itself loses significant value...cause a watch is really just a hunk of metal that competes with lots of other devices to offer you 'the time'.
This is really how sponsorships should be viewed by all brands - not just a vehicle for so-called 'exposure'.