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Audemars Piguet To Exceed CHF 1 Billion Revenue in 2018 and to Fully Integrate its Retail Network

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In a meeting to Reuters , CEO Francois-Henry Bennahmias announced that Audemars Piguet will convey twofold digit development in 2018 and that the brand’s turnover will surpass one billion Swiss francs this year. To further lift deals, Audemars Piguet plans to remove outsider multi-brand retailers “to show up at a completely coordinated retail organization” inside three to five years.

The mix of dispersion in the watch business began years prior with the manifestations of auxiliaries and with the wish to sell increasingly more in own-name stores. Audemars Piguet targets driving this methodology above and beyond, with a completely coordinated organization (straightforwardly worked or with neighborhood accomplices). Bennhamias added that Audemars Piguet could consider procuring retailers as well. Getting appropriation house permits expanding deals and merging edges with straightforwardly worked stores. It is additionally the chance to oversee activities at a retail level and to use the complementarity of the diverse dispersion channels.

In specific, it is a path for watch brands to get ready for internet business with a superior control of evaluating and non-approved dealers. The watch business has for some time been hesitant to take its business on the web. Today, the inquiry is no longer whether a brand should sell or not on the web, but rather how it should shape web based business techniques. Audemars Piguet will open its e-store in 2019.

Audemars Piguet’s assertion is probably the most recent illustration of how the move to advanced and online business are upsetting watch conveyance. At Richemont, the commitment of retail deals, through the Maisons’ online stores and 1,123 straightforwardly worked shops, has expanded to 63% of Group deals, up from 60% in the earlier year. The gathering completed the take-over of Yoox-Net-a-Porter (YNAP) prior the previous spring. Increasingly more of the gathering brands are being sold on YNAP stages. For example, since the finish of August 2018, Cartier and Vacheron Constantin are available on the web. Richemont additionally purchased used watch dealer Watchfinder as a first move in the recycled watch business.

Source: Reuters