Video – François-Henry Bennahmias, CEO of Audemars Piguet, about AP Licensed Pre-Owned Watches, Leaving SIHH and extra

Not too long ago, Audemars Piguet has had quite a lot of sizzling information headlines – unprecedented revenues, quitting the SIHH, new technological partnerships. We determined that it was time for us to maneuver to Le Brassus and have a very good discuss with the one individual to reply our questions: François-Henry Bennahmias, CEO of Audemars Piguet. It isn’t the primary time we’re in dialog with François-Henry – see right here, right here and right here – and every time, his straight discuss brings the precise solutions. In the present day’s video interview (viewable on high of this text) is stuffed with fascinating info and observations.

With out going an excessive amount of into the small print concerning the interview – we depart this to François-Henry – there are a number of vital subjects that we wished to make clear about Audemars Piguet.

1 billion Swiss Francs income – Though François-Henry Bennahmias emphasizes the truth that this quantity wasn’t the end-goal of the model’s technique, no one can overlook this spectacular efficiency. What’s fascinating is that this improve in turnover has been achieved with a continuing manufacturing (round 40,000 watches a 12 months), which means that AP is producing extra complicated and dearer items, with a bigger price ticket per watch.
Audemars Piguet pulling out of the SIHH – As we reported on this article, AP (alongside RM) gained’t be exhibiting on the SIHH as of 2020. Within the video, Mr Bennahmias explains the explanations for this departure. Since AP has drastically lowered the variety of multi-brand retailers in pursuit of upper integration (with brand-controlled shops), the idea of this SIHH (which is to current collections to those retailers) isn’t appropriate anymore for AP. Additionally, the model needs to have extra management over the introduction of watches all through your complete 12 months, as a substitute of firing dozens of items all of sudden in January. The ultimate cause, which has already been articulated by the Swatch Group (when it determined to depart Baselworld) was to have direct entry to ultimate clients – which implies native occasions to current new watches not solely to retailers and the press but additionally to collectors.
Licensed Pre-Owned watches – An vital step for the model, which has, so far, saved relatively quiet on the subject, is the introduction of an authorized pre-owned programme contained in the distribution community. Nonetheless present process a take a look at interval, which means AP is now, in chosen official boutiques, promoting second-hand watches.
Swatch Group x Audemars Piguet hairspring collaboration – Not too long ago, the Swatch Group and Audemars Piguet introduced a technological partnership for the manufacturing of hairsprings. Whereas everyone knows that magnetism is a crucial challenge for watchmakers, an answer was present in silicon. But, AP has all the time refused to make use of this expertise (arguing that it gained’t be an appropriate resolution sooner or later and that silicon is a short lived resolution). Because of this, AP and Swatch Group have teamed as much as create a brand new antimagnetic alloy for hairsprings – a contemporary resolution that’s nonetheless based mostly on conventional supplies and that can be appropriate for the approaching many years.

We depart the ground to François-Henry Bennahmias, CEO of Audemars Piguet, who solutions all these questions in our video on the high of this text.

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