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24 April 2023, 11:49 PM | #1 |
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AP's New CEO from outside the horological industry.
Just read the news from Miss Tweed today and wondering is there any case on big brand history especially Holy Trinity got the CEO from outside the horological industry? Interesting to see the future of AP after FHB era.
What do you guys think? Source: https://www.instagram.com/p/CrYkSFStA3v/ |
25 April 2023, 12:06 AM | #2 |
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Can you share those news? Can't find anything.
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25 April 2023, 12:16 AM | #3 |
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"Audemars Piguet, one of the world’s biggest watch brands, is set to appoint as its new CEO a Swiss woman from outside the horological industry, industry sources have said. Her identity is not yet known. The watchmaker has declined to comment on such details regarding her profile. However, if confirmed, her nomination would mean that Audemars Piguet’s family owners thought her ability to lead and build the brand further was more important than watchmaking expertise and experience. Audemars Piguet is not alone. Many head-hunters and human resources directors believe that hiring from outside the industry can bring fresh ideas and energy, luxury executives said at Miss Tweed’s Luxury at the Summit conference on leadership in Val d’Isère, the French Alps, held in early April.''
This is what I was able to find. I recall in a recent interview FHB said he would like his successor to be a woman. |
25 April 2023, 09:16 AM | #4 | |
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Me “Starwheel” Sales guy “LOL good luck” He literally laughed out loud. Music would have helped.
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25 April 2023, 06:02 PM | #5 | |
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FHB impact has been instrumental and these are big shoes to fill. Let's see. It could be that this source is not reliable at all. |
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26 April 2023, 01:21 AM | #6 |
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The IG post is not particularly specific, but Miss Tweed does have industry/AP connections (mixed with a lot of self-promotion).
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25 April 2023, 12:52 AM | #7 |
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Don't need watch making background if your top OKR is to complete a sale! (90% joking, 10% not)
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25 April 2023, 02:09 AM | #8 | |
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FHB didn't have a watch making background and he did a just about perfect job at AP...if the brand wants to continue being on that forefront of horology and popular culture they can't have some stodgy Swiss watchmaker running the place. |
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25 April 2023, 03:17 AM | #9 | |
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26 April 2023, 05:09 AM | #10 |
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FHB did not have a watch making background? He started to work for AP about 30(!) years ago, so had been working for them for 20 years before he finally became CEO. Should have been enough watch making background, I guess.
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25 April 2023, 02:28 AM | #11 |
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Disappointing that it’s coming outside of AP. Some of us have many years of relationships built with corporate and it’s almost like hitting the do over button
Sent from my iPhone using Tapatalk |
25 April 2023, 03:04 AM | #12 | |
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Care to elaborate? Not that I have relationships with AP corporate but how are you on some type of advisory council for FHB where you get to recommend adjustments to the corporate AP strategy? Or is this about watch allocation approvals that I doubt need to go by the CEO (unless you're Arnold or John M)?! |
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25 April 2023, 04:15 AM | #13 |
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Regardless of going with an insider or someone from outside the industry, it's going to be an interesting time for AP. They're more or less committed to increasing production and the boutique/house concept, so can't afford to coast.
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25 April 2023, 08:54 AM | #14 |
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Are they planning to increase production that much? Thought they were staying similar production ranges?
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25 April 2023, 09:34 AM | #15 |
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25 April 2023, 10:31 AM | #16 |
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25 April 2023, 10:32 AM | #17 | |
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2022 was 50k, 2023 plan is apparently 51k. New factory is supposed to be become available in a few years.
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25 April 2023, 12:06 PM | #18 |
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So, I guess the real question is whether any of these increases will make it easier for new buyers to get a RO from the boutique. So far, it doesn't seem to have made much difference.
Waiting a few years w/ AP could potentially mean finally being able to get a basic RO (like a 15510) at retail, but retail being at or near $40k (given the multiple price increases per year). |
25 April 2023, 05:48 PM | #19 |
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AP will gradually start increasing production and it will take several years till they can reach output of 70,000
Whether that would be enough or not, time will tell. If they keep doing what they have been doing in the last several years in terms of new releases, demand will still be higher than supply. They could sell 80,000 watches today, these are figures FHB has been mentioning in interviews. |
26 April 2023, 05:49 AM | #20 |
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I'll shoot my shot, it's FHB's daughter.
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10 May 2023, 10:11 AM | #21 |
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No more info yet?
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11 May 2023, 03:57 AM | #22 |
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I hope they don't try to ramp up production or go the way of Vacheron and sell out to Richemont or LVMH. I think that would be brand suicide.
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11 May 2023, 04:04 AM | #23 |
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Well, AP is not building the new factory to lower production. But I agree, a sale to one of the big conglomerates would dampen my enthusiasm.
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11 May 2023, 10:29 PM | #24 |
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11 May 2023, 11:26 PM | #25 | |
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@malba2366 as for LVMH I have no doubt to their brand management chops. Most recently with Tiffany and Rimowa slightly before that, all are being managed superbly welll. Richemont…eh…mixed bag right? Because you also have the Panerai score card mixed in too. Either way, they brand they build is not the brand I chose to associate with originally. So I’d still be mostly out. |
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11 May 2023, 10:55 PM | #26 | |
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But all of them are in a way retiring from AP after a very long tenure. Plus O. Audemars is still in the board. Francois has been saying that the increase in production will be very gradual as they can't ramp up, build new facilities and hire watchmakers so fast. And that the board has told him that they want the company to be around in the next 150 years as well. |
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11 May 2023, 11:11 PM | #27 |
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VC and ALS seem to be doing quite well under Richemont ownership. Both Richemont and LVMH know know to manage luxury brands so It wouldn't be negative for the brand, except in the eye of watch snobs.
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12 May 2023, 06:05 AM | #28 | |
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I don’t think the last few years can be used as datapoints on how a brand was doing, everyone had record sales. The true test lies ahead imo. Sent from my iPhone using Tapatalk |
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12 May 2023, 06:44 PM | #29 | ||
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AP seems more vulnerable than most in the next couple of years. They'd suffer in a broader downturn like everybody else and on top their core product line will likely become less fashionable again compared to the recent hype years. |
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12 May 2023, 03:03 AM | #30 |
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I think that would really dampen my enthusiasm with the brand.
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