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Business News: Audemars Piguet Names Ilaria Resta CEO SJX Watches
Audemars Piguet Names Ilaria Resta CEO May 22, 2023

Business News: Audemars Piguet Names Ilaria Resta CEO

Ending months of speculation, Audemars Piguet (AP) has finally filled the role of chief executive officer after outgoing boss Francois-Henry Bennahmias revealed his intention to depart last year. The Le Brassus watchmaker famous for the Royal Oak just announced that the top job will go to Ilaria Resta, formerly the president at a privately-held fragrances giant headquartered in Geneva. According to the announcement, Ms Resta joins AP in August this year and officially assumes the chief executive role on January 1, 2024. Mr Bennahmias will remain to assist with the transition until the end of 2023. A thirty-year veteran of the brand, the flamboyant Mr Bennahmias quadrupled AP’s annual revenue during his tenure, with its sales last year hitting the CHF2 billion mark. His successor’s résumé, however, suggests the board might be looking for someone who understands branding on a global and mass-market scale. With a long and accomplished career in fast-moving consumer goods, Ms Resta’s background is unusual for the leader of a major luxury watch brand. She was most recently President of Global Perfumery & Beauty President at Firmenich, a Swiss firm that is one of the world’s largest fragrances companies and, like AP, family controlled. For over two decades until 2020, Ms Resta held a range of roles at Procter & Gamble, covering sectors ranging from laundry to hair care. “Her proven record of delivering results through a clear strategic thinking based on deep consumer...

In-Depth: The Audacity of Piaget’s Altiplano Ultimate Concept SJX Watches
Piaget s Altiplano Ultimate Concept Jul 28, 2021

In-Depth: The Audacity of Piaget’s Altiplano Ultimate Concept

A relentless pursuit of diminishing returns seems to be the norm in the world of high-end watchmaking. Better finishing, lightness, longer power reserve, or chronometric performance, refined and enhanced to the nth degree – there is always something to improve, but by tinier and tinier margins. Brands and watchmakers, in turn, often develop a specific niche, trying to best each other with ever-smaller improvements. In the niche of ultra-thin watches, there are only a handful of serious players. Piaget is one such player. The brand’s forte is thickness, or rather, thinness – Piaget has held the record for the thinnest production watch on multiple occasions, with only a handful of rivals able to best its various records. And now it’s the reigning champ once again with the Altiplano Ultimate Concept (AUC). Just 2 mm high in its entirety, the AUC is so thin it looks almost like an optical illusion in photos – and a prop in real life. But it is a perfectly functional – and water-resistant – mechanical wristwatch. So the question is, how did Piaget do it? And of course, do the diminishing marginal gains justify the retail price of approximately 400,000 Swiss francs? Altiplano evolution Prior to the AUC, Piaget’s best-known attempt at the crown was the Altiplano 900P. Released in 2013, the Altiplano 900P stands just 3.65 mm high. It held the record of the thinnest mechanical watch on the market until 2015, when the title taken by Piaget’s sister brand, Jaeg...

Hennessy Teams Up With Artist Cai Guo-Qiang To Mark The Explosive 150th Anniversary Of Its X.O Cognac Quill & Pad
Dec 15, 2020

Hennessy Teams Up With Artist Cai Guo-Qiang To Mark The Explosive 150th Anniversary Of Its X.O Cognac

It was literally raining down fire all around Y-Jean Mun-Delsalle. The high winds had caused the still-burning firework tubes to drift and come tumbling down onto the heads of a group of journalists she joined rather than into the nearby Charente River as anticipated on one stormy, blustery fall day in Cognac, France. But Hennessy's “The Birth of Tragedy” performance art display by artist Cai Guo-Qiang still went ahead with a bang. A lot of colorful big bangs!

Business News: Stefanie Ng Appointed CEO of Audemars Piguet SE Asia SJX Watches
Audemars Piguet SE Asia Audemars Piguet Dec 7, 2019

Business News: Stefanie Ng Appointed CEO of Audemars Piguet SE Asia

Audemars Piguet (AP) recently named Stefanie Ng to lead its operations in Southeast Asia, India and Australia. She succeeds Jonathan King, who departed the brand in April 2019. Having started her career at Swatch Group, Ms Ng joined AP in 2012 as marketing manager for the region, where she helped execute projects like the Royal Oak 40th anniversary exhibition and a giant floral clock at Gardens by the Bay. The past two years have been formative for the brand, both in Asia and the wider world, as it has steadily trimmed its third-party distribution while growing sales within its own stores, making the marketing efforts of Ms Ng and her team vital, particularly with the launch of the all-new Code 11.59 collection earlier this year. As chief executive, Ms Ng will work alongside two board members of AP, which is unusual amongst Swiss watchmakers in having shareholders resident in Singapore: Oliviero Bottinelli, whose family inherited its stake from former AP chief executive Georges Golay (1921-1987), and Sunil Amarasuriya, who was once the distributor for AP in the region and acquired a minority stake in 1990. The Audemars Piguet Code 11.59 tourbillon made for Only Watch, which sold for a record 1m Swiss francs at the charity auction in November Though the watch industry in the region, like that back home in Switzerland, is dominated by men, it’s noteworthy that two of the most important brands – coincidentally both family owned – are now run by women. The Patek Philipp...

IWC Introduces the Portugieser Chronograph “Year of the Dragon” SJX Watches
Casio nal special editions Jan 8, 2024

IWC Introduces the Portugieser Chronograph “Year of the Dragon”

Continuing with its occasional special editions to celebrate the Chinese Lunar New Year, IWC has just released the Portugieser Chronograph “Year of the Dragon” to mark honour the Year of the Wood Dragon commencing in early 2024. This limited edition is essentially the classic Portugieser Chronograph Ref. 3716 but with a striking burgundy dial featuring gilt numerals and hands. Initial thoughts Burgundy dials on the Portugieser stand out as demonstrated by last year’s Portugieser Automatic 40, so it was inevitable to see it on the Portugieser Chronograph. The fact that this is a limited edition isn’t a big deal since IWC does a fair number of limited editions. But this specific watch, however, does look good. Whilst the design remains identical to the original, this has all of the dial elements in either gold-plating or powder-gilt print, which are more visually complementary than the combination of gold and black found on the silver dial of the standard steel model. The new look incurs an extra charge of US$950 in comparison to the standard production model, culminating in a retail price of US$9,350. While not a great deal by any means, it’s a reasonable premium, given the new dial and commemorative rotor. However, it is a limited edition of 1,000 watches, a substantial number given IWC’s scale, so the brand should have either reduced the premium or edition size to boost the appeal. The Portugieser Automatic 40 “Year of the Rabbit” from 2022. Image – IWC ...