AP segment on Bloomberg TV

[HK Islandboy]

Quite an interesting segment on Bloomberg from the CEO of AP

https://www.bloomberg.com/news/video...-younger-video

[texasmade]

He’s rocking the RG skeleton. I guess as ceo he gets whatever watch he wants!

[GB-man]

Thanks for posting. I like him.

Interesting comment that in 2019 they will release a watch with a name that breaks from tradition. Not much to go off but interesting.

[HK Islandboy]

I liked the comment that they sell 5000 watches in the US and 4000 in Hong Kong.

....clearly we need to work a bit harder to be number one!

[singe89]

Very interesting and totally agree on the smart watch comparison.

[HK Islandboy]

Originally Posted by singe89

Very interesting and totally agree on the smart watch comparison.

[Superburrito]

Originally Posted by HK Islandboy

I liked the comment that they sell 5000 watches in the US and 4000 in Hong Kong.

I wonder what proportion of watches sold in HKG are sold to locals vs. those coming from mainland China?

Anyway, thanks for sharing the video. Very interesting.

[yachty 1]

Thanks for sharing. Also liked the statement it doesn't matter on the economy if I can't sell 5000 watches in the US I need to pick a new industry

[jon_jon]

I found it interesting that their age demographics have been reduced by 10 years. Is AP becoming a brand primarily targeted at the 35 and younger age group now or is that moreso in Asia where this Bloomberg TV segment was filmed?

[incontrol]

Interesting video. Thanks for sharing. I wonder how many of the 40,000 watches they sell are RO, ROC or ROO. That would be an interesting answer.


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[red1108nyc]

Refreshing and I like him. Thanks for sharing the video

[aleeboy]

There's also this interesting article on AP's distribution approach changes since 2016.

https://www.bloomberg.com/news/artic...new-retail-mix

A massive decline in retail presence, from 16 down to eight stores, by end of 2017. We will probably see further reductions in HK as property prices continue to increase and eat into operating margins for the luxury sector.

[Tomas Eriksson]

Thx for sharing, impressive how Francois handles media. He is truly a great CEO

[singe89]

Originally Posted by jon_jon

I found it interesting that their age demographics have been reduced by 10 years. Is AP becoming a brand primarily targeted at the 35 and younger age group now or is that moreso in Asia where this Bloomberg TV segment was filmed?

While it’s good their age demographic is getting younger (longer term customers) Its hard to see how their target market would be sub 35 year olds. Cant imagine that many 35 year olds that can afford APs. Or is the marketing to appeal to them younger in their 30s when they start making real $ and can afford to buy APs throughout their late 30s, 40s and 50s to crate life long customers?

[Tay821]

Originally Posted by singe89

While it’s good their age demographic is getting younger (longer term customers) Its hard to see how their target market would be sub 35 year olds. Cant imagine that many 35 year olds that can afford APs. Or is the marketing to appeal to them younger in their 30s when they start making real $ and can afford to buy APs throughout their late 30s, 40s and 50s to crate life long customers?

I'm early 30s and their instagram videos are enough to make me want to buy 10 of em

[Star Ferry]

Originally Posted by singe89

While it’s good their age demographic is getting younger (longer term customers) Its hard to see how their target market would be sub 35 year olds. Cant imagine that many 35 year olds that can afford APs. Or is the marketing to appeal to them younger in their 30s when they start making real $ and can afford to buy APs throughout their late 30s, 40s and 50s to crate life long customers?

In HK I primarily see AP being worn by people who are under 40

Of the hundreds I've spotted in the wild here, roughly 1/3 were worn by someone who appeared older than 40

[tng11]

Originally Posted by Star Ferry

In HK I primarily see AP being worn by people who are under 40

Of the hundreds I've spotted in the wild here, roughly 1/3 were worn by someone who appeared older than 40

+1. AP is the luxury watch of choice in the haute horology tier for the younger crowd in HK. Tends mostly to be Offshores. I remember many years ago getting a lot of flack from sales people for wearing the "old cake" 15300ST. I'm 28 and I feel like I'm passing the Offshore phase, preferring smaller and daintier pieces like the 15202 and the PP 5712/1A or 5167.

I think in general, the younger segment in HK is more inclined to spend on luxury goods like AP compared to North America because of different priorities. It's a lot easier to afford an AP if you live at home, don't have a mortgage or car to deal with (the latter two are attainable for very few in HK.) I'd guess that about 2/3rds of the APs I see here are owned by people 35+.

[Star Ferry]

Just watched the video. He seems happy to sell watches to teenagers in Jakarta and undergrads at UCLA. Nothing wrong with that

Originally Posted by tng11

I think in general, the younger segment in HK is more inclined to spend on luxury goods like AP compared to North America because of different priorities. It's a lot easier to afford an AP if you live at home, don't have a mortgage or car to deal with (the latter two are attainable for very few in HK.) I'd guess that about 2/3rds of the APs I see here are owned by people 35+.

I'd chalk some of it up to social pressure -- if these guys go on a date, I bet the girl will be checking out their wrist, especially if they've already failed the "owns a luxury car" test. I'm sure many local HK girls would sneer with disgust at a Rolex Submariner (note: not joking, but I wish I was).

[benlee]

Originally Posted by Star Ferry

I'd chalk some of it up to social pressure -- if these guys go on a date, I bet the girl will be checking out their wrist, especially if they've already failed the "owns a luxury car" test. I'm sure many local HK girls would sneer with disgust at a Rolex Submariner (note: not joking, but I wish I was).

Oh dear... Call me old-fashion but that's a clear "I am a Gold-Digger" red-flag.

[Star Ferry]

Originally Posted by benlee

Oh dear... Call me old-fashion but that's a clear "I am a Gold-Digger" red-flag.

I would agree with that. They should filter out bad girls by wearing Seiko on date nights and leaving their AP in the safe

[tng11]

Originally Posted by Star Ferry

I would agree with that. They should filter out bad girls by wearing Seiko on date nights and leaving their AP in the safe

Haha that's what I actually do here. Put every sign of wealth away when going on a date and only wear my Fitbit.

[singe89]

Originally Posted by Star Ferry

In HK I primarily see AP being worn by people who are under 40

Of the hundreds I've spotted in the wild here, roughly 1/3 were worn by someone who appeared older than 40

Good info very interesting!

Almost all the AP collectors I know personally are in their 40s or 50s and they are the ones that got me interested in APs. I’m 35 and have been collecting them for the last 5 years but when I see APs in the wild around here they are usually being worn by men and sometimes women in their late 40s/50s. Those 50 and older were almost all ROs and the younger ones were both ROs and ROOs but mostly ROOs.

[AK797]

Originally Posted by tng11

+1. AP is the luxury watch of choice in the haute horology tier for the younger crowd in HK. Tends mostly to be Offshores. I remember many years ago getting a lot of flack from sales people for wearing the "old cake" 15300ST. I'm 28 and I feel like I'm passing the Offshore phase, preferring smaller and daintier pieces like the 15202 and the PP 5712/1A or 5167.

I think in general, the younger segment in HK is more inclined to spend on luxury goods like AP compared to North America because of different priorities. It's a lot easier to afford an AP if you live at home, don't have a mortgage or car to deal with (the latter two are attainable for very few in HK.) I'd guess that about 2/3rds of the APs I see here are owned by people 35+.

Also you guys were saying that nearly everyone has a Rolex so getting an AP or PP would make someone standout more, and generally AP designs are more youthful, esp the ROOs, than the PP ones so under 40s would favour ROOs more I'd think.

[peterpl]

Originally Posted by Star Ferry

I'm sure many local HK girls would sneer with disgust at a Rolex Submariner (note: not joking, but I wish I was).

Good video.

But if your taking out these kind of girls then you got bigger problems. These kind are good for flings and to have fun with but to be serious or marry you want someone at the opposite spectrum of this.

I also hide any signs of wealth when going on dates. Drive a $5k Toyota Yaris :)

[Hairdude1]

Glad he is running the show. Nice Video

[Star Ferry]

Originally Posted by peterpl

Good video.

But if your taking out these kind of girls then you got bigger problems. These kind are good for flings and to have fun with but to be serious or marry you want someone at the opposite spectrum of this.

I also hide any signs of wealth when going on dates. Drive a $5k Toyota Yaris :)

My information is secondhand. I don't interact with people that basic

[HL65]

Originally Posted by Hairdude1

Glad he is running the show. Nice Video

X2

[T4ME]

Seeing people dressed up and having a "smart watch" on, I think it distracts from their presentation. it looks out of place.. I further think "smart watches" are a gimmick

[GB-man]

Originally Posted by Star Ferry

My information is secondhand. I don't interact with people that basic

You just did

[SC11]

From that interview I really warmed to him and liked how he dealt with the questions and how he put the brand across.

Oh and his choice in wrist wear