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March 12, 2024
Me to the then head of NASCAR: “Our timekeepers can place RFID tags in the front bumper on all the cars on the track which delivers each vehicle’s location 10 times per second. We’ll know within one-tenth of a second who wins!”
His reply: "Be careful what you wish for!"
I was flummoxed. But I digress. Let me dial back to the beginning…
Among the brands comprising The Swatch Group pyramid, Tissot struggled to gain ground in the US in the early aughts. As the CMO for the US subsidiary, my remit stretched across all 14 of the Group’s 22 brands we imported. Tissot is a mid-market brand that sits in the case next to competitors like Tag Heuer, Dunhill and the like.
Most of the brands in our stable connected with something specific:
Hamilton was Hollywood’s watch – used by costume designers for all manner of period films.
Swatch supported extreme sports and outré, fun stuff.
Longines took CSIO and international horse shows and horse racing (Ascot, Kentucky Derby) and rhythmic gymnastics.
OMEGA was James Bond’s watch and the brand of F1 & Michael Schumacher. (not to mention its role as Olympic Timekeeper)
At that time, Tissot was most noted for timekeeping at UCI cycling and Moto GP. Neither of these sports enjoyed huge followings in the US.
Much discussion ensued concerning exactly which sport Tissot should (or could) align itself with. The Swiss pushed for the Indianapolis 500, largely because it was as close as the US got to F1 which they fully understood. I kept bringing up NASCAR.
First, I had to persuade Olivier Cosandier the re-patriated Swiss brand leader in the US. As a newly transplanted corporate man, he understood the brand but still did not quite comprehend the fever NASCAR enjoys.
Eventually we got to the negotiation table. I’ll be forever grateful to Andrew Giangola for guiding us through the process to become the FIRST Official Timekeeper for NASCAR. It was a groundbreaking for Tissot/Swatch Group; for NASCAR and for me. The news media ate it up.
Be Careful What You Wish For….
True to form, the Tissot designers, under the watchful eye of Francois Thiebaud, began engineering new watch designs with automotive themes. Using carbon fiber dials, rubber treads for straps and creating show-stopping styles, Tissot took off.
NASCAR’s leadership pushed us to consider sponsoring a team as well. This would create greater opportunities to enhance brand awareness. We took a typically Swiss approach – a slow burn. And it worked.
The first two years of the partnership Tissot’s US sales rose 72% and 56% respectively. The hockey-stick trajectory surprised even the HQ. The ‘unique to the US’ sport no one really understood became the platform for Tissot’s North American growth.
To be clear, Tissot was identified with the SPORT, not the tracks. This meant that Daytona, for instance, was still a “Rolex” destination, but for the purposes of televised races and all judging, Tissot was the timekeeper.
We’ve created many partnerships over the years – some without an exchange of money, just a mutual exchange of assets (and they worked surprisingly well. Reach out to hear more).
If your brand could benefit from some partner propulsion, contact us. That’s what we do!
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