Bloomberg Talks Audemars Piguet CEO Ilaria Resta Talks Global Watch Market
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Dec 9, 2024 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.
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Balanced Market Presence
- Audemars Piguet's balanced market presence mitigates the impact of China's downward trend.
- The company maintains solid growth despite macroeconomic instability.
Focus on High-End Watchmaking
- Audemars Piguet prioritizes high-end watchmaking with manual production and complex mechanisms.
- This focus results in long production times and contributes to sustained high demand.
Transitioning to Watchmaking
- Ilaria Resta's transition from FMCG to the watch industry revealed key differences.
- Watchmaking involves longer time horizons and a different leadership dynamic compared to publicly traded companies.