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While the brand in Le Brassus announced the hiring of 250 employees in 2021, the entry-level watch sector is in decline.
The announcement was a bombshell in the watchmaking sector: With 2,000 employees to its credit, Audemars Piguet plans to hire 250 people over the next year. The company’s managing director, François-Henri Bennahmias, plans to “reinforce the staff for after-sales service, brand management and IT,” he revealed in an interview published on the NZZ newspaper’s website.
While the brand’s IT department already has some 100 people, Audemars Piguet has never opened an online distribution channel, as the number of watches produced is insufficient. Indeed, production of Audemars Piguet watches this year amounted to only 37,000 pieces, instead of the 45,000 planned.
Nevertheless, the firm was not forced to modify its distribution strategy during the health crisis. “During the second lockdown in France and Italy, customers ordered watches by phone and had them delivered, even when the stores were closed,” said Mr. Bennahmias. To this, the manager added that “the 25% drop in turnover that was expected after the lockdown could be revised to less than 10%.”
The Vallée du Joux company is “on the right track” and has therefore begun a hiring policy. Half of the new employees will be assigned to the boutiques, operated as franchises or joint ventures by Audemars Piguet.
This approach is at odds with the state of the entry-level watch sector. Already in 2019, the export volume of entry-level watches – worth approximately 200 Swiss francs – reached 11.6 million pieces, almost half as many as twenty years earlier.
Indeed, entry-level watches are constantly losing ground to the mass introduction of smartwatches, such as the Applewatch. According to Strategy Analytics estimates, the Cupertino-based firm alone will have sold 30 million pieces in 2019, compared to 20 million for the entire Swiss watch industry.
Moreover, connected watches are not the only ones to dominate the market. Fashion brands such as Guess, Puma and Armani also sell watches at lower prices. This exacerbated competition is a real challenge for the luxury watch industry, particularly for its low-priced watches, and calls for a rapid adaptation of the sector.
Read also > GRAND PRIX D’HORLOGERIE DE GENÈVE (GPHG) : THE “AIGUILLE D’OR” GOES TO AUDEMARS PIGUET
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While the brand in Le Brassus announced the hiring of 250 employees in 2021, the entry-level watch sector is in decline.
The announcement was a bombshell in the watchmaking sector: With 2,000 employees to its credit, Audemars Piguet plans to hire 250 people over the next year. The company’s managing director, François-Henri Bennahmias, plans to “reinforce the staff for after-sales service, brand management and IT,” he revealed in an interview published on the NZZ newspaper’s website.
While the brand’s IT department already has some 100 people, Audemars Piguet has never opened an online distribution channel, as the number of watches produced is insufficient. Indeed, production of Audemars Piguet watches this year amounted to only 37,000 pieces, instead of the 45,000 planned.
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While the brand in Le Brassus announced the hiring of 250 employees in 2021, the entry-level watch sector is in decline.
The announcement was a bombshell in the watchmaking sector: With 2,000 employees to its credit, Audemars Piguet plans to hire 250 people over the next year. The company’s managing director, François-Henri Bennahmias, plans to “reinforce the staff for after-sales service, brand management and IT,” he revealed in an interview published on the NZZ newspaper’s website.
While the brand’s IT department already has some 100 people, Audemars Piguet has never opened an online distribution channel, as the number of watches produced is insufficient. Indeed, production of Audemars Piguet watches this year amounted to only 37,000 pieces, instead of the 45,000 planned.
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