Maurice Lacroix Swiss Watches, which has been the official watch of the Indy 500, Brickyard 400, Indy Racing League and an officially licensed product of Indy Motor Sports since 2001, won’t renew its sponsorship relationship with the Indy Racing League.
The decision was announced to its retailers Feb. 2 by Stuart Sklar, president of Maurice Lacroix North America. Officials at the Indy Racing League were notified when the contract expired at the end of December.
The Indy Racing League “has been an exciting partner for Maurice Lacroix in the United States,” said Sklar, but “at this time, it’s important for our company to focus its brand marketing in areas with intrinsic benefits to our retailers and our luxury consumer.”
Tag Heuer reportedly will take over the sponsorship role.
Sklar said that Maurice Lacroix USA will continue to grow its market among luxury product consumers with “marketing platforms on the national, regional, and local levels that will create synergy between its guild jewelers and its discriminate consumer.” Announcements about those new marketing investments will be made at the Basel Fair 2004, the world’s largest watch fair, set for April 15-22, 2004 in Basel, Switzerland.