News First established more than half a century ago, the collaboration between Audemars Piguet and Desco von Schulthess acquires a new dimension in Asia.
Audemars Piguet (Hong Kong) Limited and Audemars Piguet (Japan) KK are two joint ventures which, as their name implies, are majority controlled by the Le Brassus watch manufacturer and are now selling Audemars Piguet watches in the former British colony and in Japan. Founded on 1st February this year by the Joux Valley watchmaker and the Zurich-based company Desco von Schulthess, active in the distribution of luxury consumer goods and international trade, they do not however have the same life expectancy, since while the Japanese firm was created on a long-term basis, the Hong Kong joint venture will only be active for three years until the Le Brassus firm takes over complete control of its distribution in this market.
In addition, from 1st July this year, Audemars Piguet will also take over its distribution in Taiwan, until then ensured by Desco von Schulthess. The two partners have yet to finalise collaborative projects for China, while a decision concerning Australia will not be taken until the end of the year.
Said Georges-Henri Meylan, President and CEO of Audemars Piguet: "This solution answers our needs perfectly. As brand owners we must take control of strategic markets, yet we benefit from Desco’s indispensable local know-how. This allows us to maintain continuity and virtually prevent any adverse affects to the performance of the brand and service to our retailers."
Peter Brunner, President and Chairman of the board of Desco von Schulthess Holdings commented: "We are pleased to continue adding value and expertise to one of the leading Swiss watch brands and one of our longest partner. Moreover, we are eager to demonstrate that a partnership between a brand owner and a specialist brand manager remains a winning combination."
On the subject of Asia, Malaysian actress Michelle Yeoh, who appeared alongside Pierce Brosnan in "Tomorrow never dies" by Roger Spottiswoode, has signed a deal to represent Audemars Piguet. To cement the relationship, on 4 February Georges-Henri Meylan invited her to discover the firm’s production sites in Le Locle and la Vallée de Joux, and gave her a sneak preview of the new museum which is still under construction. She was accompanied on this occasion by her fiancé, none other than Jean Todt, director of the Formula 1 stable Ferrari.
February 22, 2005
