Business News: Breaking N3W5 - Former AP CEO Bennahmias Announces First New Watch Brand
Former Audemars Piguet Chief Executive François-Henri Bennahmias unveiled details of a new watch brand called N3W5 that will launch in late 2027 and draw on some significant names from the Swiss industry for the design, production, and craftsmanship. Called 'N3W5' - an acronym for 'North, East, West, South' and pronounced 'NEWS,' the new marque will launch at Dubai Watch Week next year, the Honourable Merchants Group, the Bennahmias-led luxury brand constellation, said in a statement. Watch prices for the first models will start at about CHF 20,000, and production will commence at 'several thousand pieces' in the first year. A second collection will debut in 2028, according to the company's plans. François-Henri Bennahmias at an event in Crissier, Switzerland, introducing The Honourable Merchants Group. The news of N3W5 comes as pressure and speculation have mounted as to what Bennahmias, who led AP for more than a decade and oversaw a period of spectacular sales growth to more than CHF 2.3 billion for the family-owned brand, would do next in the watch world. At a flashy event near Lausanne last year, Bennahmias unveiled his vision for THMG, a new, multi-brand luxury brand group backed by private investors that promised a new philosophy of work, innovation, products, and sustainability in the luxury space. The charismatic executive said the new group would not be driven solely by profit and that at THMG, "we want to change the world of business. It is a mission," Be...
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