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Adding pages to the book of watchmaking
"We think we have had a good year when we have brought something new to the watch industry," he says. "We try to make things that are innovatively important: afterwards the watch industry, press and customers realize the contribution we have made. Does it mean an improved bottom line" A little. But we are more interested in improving our technology and timepieces to the highest level. We try to put something new in the book of the history of the watch every year." The company may not be much in terms of size compared to some of the larger watch groups such as the owners of Swatch and Rolex, but it can boast of a continuous quest for perfection of focus and quality. It is strictly a high-end maker, focusing on hand-crafted watches using modern technology to complement the personalized detail, and has 450 employees (250 of them at work in "the Valley"). Last year Audemars Piguet had consolidated sales of 160 million Swiss francs (around 89.09 million dollars) and the average price for one of its watches was around 19,000 Swiss francs (about 10,580.00 dollars). The trend of consolidation in the industry has not shaken the venerable watchmaker's independent outlook. Meylan points out that the big groups often have a conflict of interest between the various brands they represent. "We like to bring our independence to help the retailers we work with," he explains. "The larger groups can apply pressure on these retailers by determining which of their brands to promote, how to do it, etc., while we have one brand and can comfortably work together with the retailers on this. We see a future working in this independent manner." In terms of geographic market distribution Audemars Piguet sales can be broken down into three main areas: 42 percent of sales in each of the Asian and European markets and 14 percent in the US. In Japan, where Audemars Piguet has been strongly established for 40 years, unit growth this year is expected to jump 15 percent to 2,200 pieces despite the consumer slowdown. The company is proud to be recognized as the world leader in complex watches, referring to watches with complicated mechanical movements that incorporate moon phases, automatic year indicators and other innovations. A favorite seller in Japan for over 30 years has been the Audemars Piguet "Royal Oak" collection. Though the Royal Oak (the first luxury sports watch to be crafted of steel when it was first introduced) will celebrate its 30th year anniversary next year, it still remains a design reference in the world of watch making. Commenting on new Royal Oak Offshore model, Meylan chuckles and says: "It is an extreme sports watch. It can withstand a magnetic field many times greater than your own body would be able to stand. It can dive further and deeper than most other watches; it can do all extremes further and greater with maximum performance. Yet, it is also a beautifully crafted watch." This is the kind of quality that sells in Japan. With its philosophy and focus dedicated to the highest levels of precision and innovation in luxury watch collections for both men and women, it is not difficult to see that Audemars Piguet has a secure place in Japan that can only keep growing stronger in the future.
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Ricola www.ricola.ch Hilti www.hilti.co.jp  |
CEO Georges-Henri Meylan has maintained Audemars Piguet's exclusive niche at the top of the watchmaking world.