TAG Heuer has joined the list of sponsors severing their sponsor contracts with Tiger Woods. The Swiss watchmaker’s CEO Jean-Christophe Babin said in a Swiss daily Le Matin report on Friday that the Woods ads will not appear in the US market "for the foreseeable future."
Press reports as recent as Monday indicated that TAG Heuer was standing by their man, and that their relationship with Woods was "still under review." In recent weeks other big sponsors issued similar statements.
But as allegations of numerous extramarital trysts continued to surface, sponsors such as Accenture and Proctor and Gamble’s Gillette Division have severed their ties to the famed golfer this week.
TAG Heuer will continue to support Woods’ charitable foundations, but will not use American brand ambassadors in US ad campaigns, including actor and environmental activist Leonardo Di Caprio, the Swiss daily Le Matin report added.
Retailer reaction to Woods’ scandals is mixed. Jewelers quoted in a Boston Herald report are experiencing strong sales of TAG Heuer watches this holiday season and are receiving no negative reactions regarding billboards using Woods’ image to promote the watch brand.
In the Australian market, however, it’s another matter entirely. TAG Heuer placards are being removed from jewelry stores across the country, according to a December 10 report from the Sydney Morning Herald. TAG Heuer told the Sydney Morning Herald that Woods’ extramarital affairs had nothing to do with the decision. But a store owner quoted in the Sydney Morning Herald story said, "He received firm orders from TAG Heuer to take down the placards."
LVMH Watch & Jewelry, the New Jersey-based US headquarters for TAG Heuer, could not be reached for comment. The office closes on Friday afternoons at 3:00 PM EST.