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An Industry Insider’s Take on François-Henry Bennahmias’ Success at Audemars Piguet
Long rumoured and now official, François-Henry Bennahmias will depart Audemars Piguet (AP) at the end of 2023 after an 11-year reign as chief executive. An iconoclast who dared to voice out loud what many people were thinking, he turbocharged a brand that had been coasting and was gradually being edged out by more aggressive competitors. Over the last ten years AP has more than doubled its turnover and operating margin, while maintaining its exclusivity thus enhancing its attraction for customers and collectors. Often criticised for its dependence on a single product family – the legendary Royal Oak contributes makes up over 90% of turnover and even more of profit – the Le Brassus brand has been able to reinvent its flagship product during François’ tenure, turning it into an icon in watchmaking. But Bennahmias’ marketing and business plan owes less to genius than to common sense and a unique ability to unite his team. Brands are crafted by people The path to success for the successful (re)launch of the horological icon is straightforward in hindsight but it is all related to human factors. I am a firm believer in the fact that brands are made by people and not spreadsheets. In a luxury brand, the personality of the chief executive (or creative director) is key to the promotion of its values. A strong personality with character traits suited to a pro boxer, Bennahmias has a strong charisma that allows him to motivate his troops and lead from the front. He has ...
