How Audemars Piguet Grew During a Downturn

A Turning Point for a 150-Year-Old Brand

Audemars Piguet is marking 150 years with momentum and focus. On The Business of Watches, Chief Executive Ilaria Resta explains how the brand set a confident course for its next century. The year brought high stakes and complex challenges. Yet the team in Le Brassus leaned into change, protected quality, and kept clients engaged.

The wider environment did not make things easy. U.S. tariffs rose. Gold hit record prices. The Swiss franc remained very strong. Meanwhile, global demand cooled. Even so, Resta describes a company that chose to invest and to innovate. She frames the anniversary as a catalyst for clarity and for action.

Above all, she stresses discipline. Decisions focused on long-term value rather than short-term noise. As a result, the strategy stayed simple: make compelling watches, deliver them well, and support clients before and after the sale.

Delivering Growth in a Downturn

In a market facing a second straight annual decline in Swiss watch exports, Audemars Piguet grew. According to the brand, sales rose 12% through the end of October versus the prior year. Analyst estimates place annual revenue above CHF 2.3 billion. That performance stands out in a tough cycle.

How did it happen? First, the company set clear priorities. It balanced novelty with continuity. It protected pricing. It also kept communication direct and coherent. Furthermore, teams moved quickly when opportunities appeared. They avoided spreading resources thin. Instead, they focused on the releases and markets that mattered most.

Resta also points to culture. People across functions owned outcomes and stayed close to clients. Because of that, the organization adapted fast as conditions changed. And importantly, it maintained high standards at every touchpoint.

Innovations That Set the Tone

This year’s product slate helped drive that growth. The brand introduced a highly wearable, groundbreaking RD#5. It also unveiled an innovative 38mm perpetual calendar. Both models underscore a clear direction: push technical ideas forward and improve real-world wearability.

Moreover, the releases show balance. They serve collectors who seek cutting-edge execution. They also suit new buyers who want comfort and daily versatility. In Resta’s view, that mix will define the next decade for the company. It keeps the core audience excited. It also opens doors for first-time clients who value design, ergonomics, and reliability.

The brand’s presence at major events added energy as well. Dubai Watch Week, for example, brought leaders together to exchange ideas on craft, culture, and growth. Those forums, she notes, keep the conversation fresh while reinforcing trust.

Managing Supply, Demand, and Identity

Growth without control can backfire. Therefore, Resta puts strong emphasis on production planning. The company aims to match supply with true demand, not hype. Lead times should respect craft and also reflect reality. This approach supports value and protects the client experience.

Model families will keep evolving with that principle in mind. Iconic lines will see careful updates. Meanwhile, new references will appear where they add real purpose. The goal is coherence, not clutter.