Watches By SJX has an interview with François-Henry Bennahmias, chief executive of Audemars Piguet here. He is generally pretty confident:
"We are drastically impacted as you can imagine. 2020 will be affected in a substantial way. But with what our team have achieved in the past eight years, Audemars Piguet can weather the storm. Our financial health is good. We are able to keep every single employee around the world on the payroll.
"Luckily, Audemars Piguet has always spread the brand commercially in a very even way worldwide. So we are affected, but probably less than others that are more exposed. Regarding production, no need to mention that all our production is made here in Switzerland so we have absolutely no worries on that front.
"There are eight billion people in the world. If you take only the top 1%, that accounts for 80 million people. Even if you consider only 25% of these individuals, that still represents 20 million people. Audemars Piguet produces approximately 40,000 watches per year. There is still a huge potential.
"This exceptional period has forced us into confinement. It has forced us to take time to think, to adapt, to collaborate. It has developed creativity in so many different ways. One thing we will need to do for sure is adapt our message. I think the time for ostentation is not possible anymore."
I'm wondering if he means ostentation in the message, ostentation in the product, or both?
So no more massive Offshore Chronographs then? I would welcome a move to more discreet offerings but not sure how right he is.
We have been living in the decade post the 2008 crash. A huge collapse in wealth and relative earnings. In that time watches became all the more ostentatious... bigger, 47mm+, yellow gold became fashionable. Bling was/is 'in'.
So.... for the punter..... prices up to increase margins, or prices down to increase cash flow? That’s the burning question really
Yes, this thread about style needs to get turned into yet another thread about prices as soon as possibleOriginally Posted by RustyBin5
Disappointed, I really fancied this one
I'd invest in some new glasses firstDisappointed, I really fancied this one
Cant help wondering, on the bezel how do those hexagonal screws turn in those hexagonal holes?Disappointed, I really fancied this one
It's a thing they're famed for - they don't turn (as it would be impossible), rather they are screwed-into from behind
Excellent observation and I genuinely have no idea :)
It's engineering like that that justifies the price...
I knew a girl like that...
If this is talking about style, can we go back to prices? Please?Disappointed, I really fancied this one
Otherwise, this is rather discrete... from afar
'Against stupidity, the gods themselves struggle in vain' - Schiller.
Somehow I don't see them churning out cheap plastic digitals any time soon.....
Excellent!
Think along the lines of a nut and bolt. It's screwed in from the other side.
They certainly won't be cheap...
“If you take only the top 1%, that accounts for 80 million people. Even if you consider only 25% of these individuals, that still represents 20 million people. Audemars Piguet produces approximately 40,000 watches per year. There is still a huge potential.”
Audemars Management going on above quote is basically saying “ I’m alright Jack”.
No matter the Worldwide recession which is currently developing, the millions upon millions of people losing or potentially about to lose their livelihood over the coming year and the devastating effects that will have on their families and any savings.
No, we at Audemars only sell to the top 1% of the World wealth, they will not be affected by the economic disaster and will quite happily keep splurging their cash in our direction, so we have nothing to worry about here in our Swiss luxury market bubble.
Not sure how many buyers would lose sleep if Audemars sales tanked this year and maybe some humility from the Management at these times of dire conditions for many around the world would be better placed rather than talking yourself up with fingers crossed behind your back.
What about the ostentatious service costs Mr AP?
Hopefully they took the downtime to look at their warranty returns %-age.... Horribly unreliable watches all over, with ludicrous service costs to boot. Before I started working with the brand I imagined them to be a more robust reliable version of Patek Philippe. Turns out they're worse, much worse. I wouldn't recommend my worst enemy to buy an AP watch to be honest.
Ah, I get it. But then the slot is redundant as the "head" is held in place by the hexagonal hole.
Shortly after, I was thinking it was mildly clever how the gap between the screw and the hole was tiny. But then if you slot the screw and make it a little on the large size it will fit flush once it's draw into the hole...
Clever. But it would still annoy me when the slot fills up with wabi...
There's a fantastic cutler in France called Jean-Pierre Martin - he manages to align slotted screws through meticulous measurement. They cannot be cut down once fitted as they're either flush with the scales or recessed, so he has to cut them to size then work out where they will end their travel and thus rotation, and then add the slots in, ensuring all once screwed in, align with one another.
They're called sex bolts.
True story.
🤢🤮Disappointed, I really fancied this one
😂
I think the slang term is 'quickies'...
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