Swiss watchmaker Audemars Piguet will increase its production of timepieces in 2022 to compete with rival Patek Philippe.
Audemars Piguet is aiming to increase its production, as its turnover is getting closer and closer to that of its competitor Patek Philippe. Indeed, the company plans to produce 50,000 timepieces in 2022, compared to 45,000 sold in 2021.
According to Morgan Stanley and Bank Vontobel, although the brand does not officially publish its turnover, Patek Philippe would have achieved a turnover of around 1.2 billion francs in 2020, compared to 1.5 billion francs for Audemars Piguet in 2021. This Morgan Stanley report also deduced that Audemars Piguet is the sixth largest Swiss watchmaker, based on sales figures.
Despite the global pandemic of Covid-19 which caused Audemars Piguet’s sales to decline in 2020, the year 2021 has seen a rebound in their sales especially of the brand’s iconic model, the Royal Oak, which celebrates its 50th anniversary this year.
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Featured photos : © Audemars Piguet
