- Audemars Piguet's Royal Pop collaboration with Swatch, a line of brightly colored $400 timepieces launched in May, has produced record monthly sales for the watchmaker, CEO Ilaria Resta said.
- The launch generated more than 20 billion mentions and conversations on social media and crashed the company's website, drawing millions of young consumers to mechanical watchmaking and prompting top collectors to request their own Royal Pop.
- The collaboration defied a declining Swiss watch industry: exports have fallen by more than half since 2011, total sales fell 1.7% last year, and U.S. tariffs add pressure on the broader market.
- Industry consolidation has concentrated sales and profit at the top: Rolex, Patek Philippe, Audemars Piguet and Richard Mille account for about half of industry sales and about 76% of profits, according to a Morgan Stanley and LuxeConsult report.
- Audemars Piguet produces only 53,000 watches a year, with Royal Oak models typically starting at $30,000 and preowned pieces selling 30% or more above retail due to scarce supply.
- Resta described her strategy as 'radical openness,' expanding beyond the Royal Pop launch with AP Labs pop-up experiences that educate visitors on mechanical watchmaking and recruit new craftspeople.
Quotes
“We've had a record month every month since the launch of the Royal Pop”
“Our website crashed. We have nonstop visits in our boutiques. Simply by putting the spotlight on an object and a mechanical movement, all of a sudden you discover the world of Audemars Piguet.”
“Either you dare or you die”
“This is a category that is born and fueled by love, passion and understanding”