SJX Watches
Craft at Scale: Audemars Piguet’s Industrial Strategy
Audemars Piguet (AP) is a storied name in haute horlogerie, and has long been the public face of the Vallée de Joux, the cradle of high complications in Switzerland. It’s also the only brand in the so-called ‘holy trinity’ to employ a Chief Industrial Officer (CIO). We sat down with Lucas Raggi to understand his role in shaping AP’s industrial strategy. The historical home of Audemars Piguet. Image – Audemars Piguet The context Having closed the chapter on the brand’s first 150 years, AP is flying high. According to Vontobel estimates, the brand generated more than CHF2.4 billion in 2025, making it the third-largest brand by revenue after mass market masters Rolex and Cartier. The brand is estimated to have produced more than 50,000 watches in 2025, up from 30,000 just a few years ago. The ribbon-cutting ceremony at the opening of AP’s new Arc Manufacture in Le Brassus. Image – Audemars Piguet The new Arc Manufacture, which just came online, might raise the ceiling further. In a 2022 interview then-chief executive François-Henry Bennahmias suggested AP would be capable of making up to 65,000 watches annually by 2027. These numbers represent extraordinary growth for a century-old family owned brand that makes complicated watches. So how does a brand like AP (nearly) double its output in less than a generation without sacrificing small-scale craftsmanship? In short, thoughtful industrialisation. The recently opened Arc Manufacture in Le Brassus. Image – A...
