Swiss Watchmaker Audemars Piguet to Boost Revenue by Taking Sales Inhouse

ZÃœRICH, Switzerland - Swiss watch brand Audemars Piguet wants to totally control the distribution of its luxury watches, cutting out third-party multi-brand retailers within three to five years, its head told Reuters, adding the integration would boost sales "Since the beginning of the year, we've seen double-digit sales growth We were already close to one billion Swiss francs in sales last year, we'll easily exceed it," he said, adding this was also a consequence of the retail integration.

Swiss watch brands from independent Audemars Piguet to listed Swatch Group and Richemont are trying to get a firmer grip on their distribution by increasing sales via monobrand stores - proprietary or run by franchise partners - and their late but determined push into e-commerce is also accelerating the development Bennahmias said Audemars Piguet, which competes with Swatch Group's Omega and Richemont's Cartier brands, would launch its online store in 2019 at the latest, but others have moved faster Most Richemont brands have e-boutiques or sell via the group's Net-a-porter or Mr Porter online sales portals, with Cartier being the latest brand to launch a permanent offer on the two sites on Aug 29.

The biggest Swiss watch brand, Rolex, is however staying on the sidelines so far, with two Rolex retailers telling Reuters the brand had no plans at this stage to sell online Third-party multi-brand retailers are still the dominant sales channel for Swiss watches, but that is bound to change. . Source