Audemars Piguet To Exceed CHF 1 Billion Revenue in 2018 and to Fully Integrate its Retail Network

By rolex
June 2, 2021
2 min read

In a meeting to Reuters , CEO Francois-Henry Bennahmias proclaimed that Audemars Piguet will convey twofold digit development in 2018 and that the brand’s turnover will surpass one billion Swiss francs this year. To additional lift deals, Audemars Piguet plans to remove outsider multi-brand retailers “to show up at a completely coordinated retail organization” inside three to five years.

The mix of dissemination in the watch business began years prior with the manifestations of auxiliaries and with the wish to sell increasingly more in own-name stores. Audemars Piguet targets driving this methodology above and beyond, with a completely incorporated organization (straightforwardly worked or with nearby accomplices). Bennhamias added that Audemars Piguet could consider securing retailers as well. Getting dissemination house permits expanding deals and solidifying edges with straightforwardly worked stores. It is additionally the chance to oversee activities at a retail level and to use the complementarity of the distinctive circulation channels.

In specific, it is a path for watch brands to get ready for internet business with a superior control of estimating and non-approved dealers. The watch business has for quite some time been hesitant to take its business on the web. Today, the inquiry is no longer if a brand should sell on the web, yet how it should shape online business systems. Audemars Piguet will open its e-store in 2019.

Audemars Piguet’s assertion is probably the most recent illustration of how the move to advanced and internet business are disturbing watch dispersion. At Richemont, the commitment of retail deals, through the Maisons’ online stores and 1,123 straightforwardly worked boutiques, has expanded to 63% of Group deals, up from 60% in the earlier year. The gathering completed the take-over of Yoox-Net-a-Porter (YNAP) prior the previous spring. Increasingly more of the gathering brands are being sold on YNAP stages. For example, since the finish of August 2018, Cartier and Vacheron Constantin are available on the web. Richemont likewise purchased used watch trader Watchfinder as a first move in the recycled watch business.

Source: Reuters