Audemars Piguet CEO Ilaria Resta Talks Global Watch Market
Dec 9, 2024
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Ilaria Resta, the CEO of Audemars Piguet, brings a fresh perspective to the luxury watch industry after her tenure at Procter & Gamble. She discusses her strategies for navigating the complexities of the global watch market, focusing on sustainable growth in challenging regions like China and the U.S. Resta highlights the meticulous watch production process and the shift towards female consumers, emphasizing education and breaking stereotypes. She also reveals plans to enter the certified pre-owned market and underscores the importance of supply chain control amid geopolitical factors.
Ilaria Resta aims to navigate macroeconomic challenges by emphasizing innovation and craftsmanship to sustain Audemars Piguet's luxury brand identity.
The company is proactively targeting the growing female market in watches, forecasting that women will make up 45% of buyers by 2030 through educational initiatives.
Deep dives
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Hilaria Reista's Vision for Audemars Piguet
Hilaria Reista, the new CEO of Audemars Piguet, aims to stabilize and grow the luxury watch brand by focusing on innovation and high-quality craftsmanship. Her experience in consumer goods has equipped her to navigate the transition of the brand into the luxury market while addressing challenges posed by macroeconomic uncertainties. Reista emphasizes the importance of maintaining a manual and meticulous production process to ensure the legacy of high complications and watchmaking excellence. As she redefines growth strategies, she seeks to create value and sustain the brand’s independence in a competitive landscape.
Targeting Women in Watchmaking
Audemars Piguet recognizes the growing interest of women in mechanical watches and is actively seeking to diversify its customer base. Despite current sales to women being around 20%, the brand aims to cater to this demographic, predicting that women will comprise 45% of watch buyers by 2030. Reista’s initiatives include workshops designed to educate women about watchmaking and dismantle stereotypes that limit their engagement with mechanical timepieces. By focusing on storytelling and educational experiences, Audemars Piguet intends to revolutionize its approach to female clientele, making their offerings more appealing and relatable.