“ALINGHI HAS GIVEN AUDEMARS PIGUET A MORE DYNAMIC IMAGE”

Your sales increased by around 25% last year; what are the main reasons for this rise?

First of all, it is important to realise that Audemars Piguet has been enjoying strong growth for five years now, and that sales had already risen 20% in 2005. So this is not merely a reflection of the overall trend in the Swiss watch industry, which is experiencing an encouraging rise in export figures. Sales of our Offshore line are really taking off around the world; our American and Asian markets are generally flourishing; and the brand is also progressing in new territories such as China and India.

The Jules Audemars collection is being enriched with many new models and the Millenary too; what is the current spread of sales between the various lines?

The Millenary represents a field we are trying to exploit to the full; we have presented it to most of our retailers and made significant advertising investments, the goal being to win market shares in a men’s and ladies’ classic-contemporary segment where Audemars Piguet has a good deal of potential – especially among women, in fact. The sell-out rate is favourable so far, but the products are only being delivered since October of last year, so it’s too early to compare it with other collections, especially since the Royal Oak is continuing to grow. In due course, we hope to sell 4,000 to 5,000 Millenary watches per year. As for the Jules Audemars collection, it features a dual attraction: the Grand Complication models regularly welcome new evolutions and are highly sought-after among collectors, while certain Asian or Middle East markets remain firmly attached to classic models with gold bracelets or in versions that are less in demand in the West but that feature high added value.

How have you capitalised upon your sponsorship of Alinghi?

In three ways: hospitality, communication and products. We have given many of our customers, personnel, partners and suppliers an opportunity to discover the Alinghi base and the whole America’s Cup scene. All of them revel in this adventure as an unforgettable experience that brings them closer to the brand. This summer, we will be taking 500 more people to Valencia. We have indeed published two books with a CD-Rom on our relationship with Alinghi and the America’s Cup. In terms of products, we have just launched the third special edition of the Offshore line on the Alinghi theme, issued in a limited series of 2007. In its forged carbon version – an exclusive material developed by Audemars Piguet – the Roal Oak Offshore Alinghi Team weighs just 90 grams!

Have you been able to measure the spin-off effects?

Initially, we examined the issue of whether we should conduct such an analysis, but in the end, simply observing the incredible number of visuals on which Audemars Piguet was appearing convinced us that this sponsoring operation was well justified. Why spend a fortune to calculate a result that would merely set a figure on our inner conviction? Alinghi’s success has undeniably boosted awareness of the brand, while giving it a more dynamic image. Audemars Piguet and Alinghi are inextricably linked and the public automatically associates us with the winner of the America’s Cup. There was no hesitation about renewing the contract with Alinghi in 2004 and we will doubtless be partnering it again in the 33rd America’s Cup. Naturally, we all hope that Alinghi will win this July.

Which are the other most satisfying partnerships?

First of all, those relating to golf. We had begun with just Nick Faldo several years ago, but the growing success of our golfing events around the world has led us to sponsor eight players and to develop our presence in this field – albeit an extremely crowded one. Other events that are of global interest include our partnership with Maserati, which has a fine existing clientele. We can really sense the synergies. Locally, we also take part in several operations relating to the automobile milieu and enabling us to reach other wealthy car collectors who necessarily also appreciate fine watches.

How are things going for the Hôtel des Horlogers, in which Audemars Piguet holds a stake?

Its primary vocation is not to generate significant revenues, and this place is very useful in enabling us to welcome our guests with style. We are indeed extending the ground floor to include an additional seminar room for our AP Academy training programme that we are developing for our international sales teams, that we thus naturally also need to accommodate. We also sometimes enjoy the pleasure of seeing other colleagues from the Vallée de Joux in the restaurant..

What are the major challenges for Audemars Piguet in the coming years?

I think we must maintain a certain level of growth, since this is the only way of maintaining a dynamic spirit. With this in mind, we have just begun work on our new Manufacture in Le Brassus, representing an investment of some 35 million Swiss francs. The entire production process will be housed within this 10,000 sq.m. facility by the end of 2008, while the administrative and sales departments will occupy the current building.

And what about those facing Swiss watchmaking as a whole?

If the Swiss watch industry wishes to maintain its current level of success, it must display creativity in terms of products and not merely imitate temporary trends. I am dismayed to note the lack of ideas among some of our Swiss colleagues who overtly mimic our models. The territories will continue to grow, but products must also continue to evolve. We must preserve our expertise, pursue innovation and continue the struggle against counterfeits.