This former golf professional did not dislike to have a shot to advance. In this case, it is one of the first to address publicly the subject of vintage watches, and to ask today’s milestones. The brand he presides over has the wind in the back, with a growth rate of 12 % which is pale to his neighbors, and it leads to boldness. “The desirability of the brand is the key to the market opportunity”, explains the boss of Audemars Piguet, the independent house was established in 1875, which sells for 40 000 pieces (new) per year and realizes an annual turnover of close to a billion swiss francs.
Why the claws watch should they be concerned about the resale market?
The watch industry is very late. A long time ago, for example, that the sector is organized. The second-hand market has been totally left in the hands of third parties, without warranty or constant quality… It is an issue for watch brands who should be responsible for their products from A to Z.
Is this a windfall?
It is estimated the market used 5 to 10 times higher than that of the nine… This is the next big movement in the watch industry that is going to change that, and attract new customers.
How to take?
in my opinion, the first thing to do is not to mix the two offers, the opportunity, and the nine, because they are addressed to two audiences different. Then, the real challenge is to be able to properly encrypt the product. When someone comes in with a watch, it needs to be able to say to him how much it is worth. It therefore requires to monitor the market carefully and have a precise knowledge and quick. One sells and one buys, it is a new business to integrate. This is the reason for which, moreover, the Richemont group bought Watchfinder, one of the first specialists second-hand watches.
You have made the first step?
We are in test in five large cities in the country the most mature and the largest: Tokyo, Singapore, hong Kong, Geneva and New York. This is a very first step, because we do that in our stores, and without buying. For the moment, we only sell our own stock. So these are small amounts, but this allows you to explore, observe and prepare for the future. It is important to take the time to do things.