Pandemic Truths – François-Henry Bennahmias
Audemars Piguet is one of the most recognised brands in haute horlogerie, but since François-Henry Bennahmias took over as chief executive in 2012, it has enjoyed turbocharged growth, with turnover more than doubling to over a billion francs in 2019. As the crisis hit, Audemars Piguet was still in the midst of executing some drastic strategic changes in the brand’s distribution and marketing – eliminating all third-party retail as well as pulling out from the SIHH trade fair. Has the crisis changed its plans? François-Henry Bennahmias answers our questions from his home in Nyon, a town 40 minutes to Audemars Piguet’s headquarters in Le Brassus (which just opens its new museum shaped like a glass spiral). Francois-Henri at home in Nyon How has this crisis impacted your business? All our manufacturing sites are closed; 85% of our stores worldwide are closed. So 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. That is mainly what we have been working on: taking care of our people, of their health and of their jobs. In this regard, I would say that all is good! Obviously, the situation calls for a deep reflection on the “after”. Anyone who believes that we will go back to the normal we once knew is completely mistaken. ...
Time+Tide
