News Audemars Piguet has earmarked 30 million francs for Le Brassus, its historic site in the canton of Vaud. "We are planning a complete reorganisation, from component manufacturing to the finished watch," said Georges-Henri Meylan, the company’s managing director. "Work is going to start this summer to ensure that the new site is operational by 2008." The aim is to completely rationalise production on two levels and absorb future growth. The firm envisages an increase in production of 7 to 8% per year. Meanwhile, the manufactory will continue to increase its capacity between now and 2009. "We’ve planned for the creation of 30 to 40 jobs each year".
Audemars Piguet is expanding on all horizons. The company has recruited approximately 250 employees over the last three years to service its different markets around the world. It has ten or more subsidiaries, the most recent of which has just opened in Spain. "Europe and Asia respectively account for nearly 40% of our sales, and the United States – growing rapidly – the remaining 20%". In continental Europe, Italy heads the list, followed by Switzerland, France and Germany. Audemars Piguet has around ten own-name stores in Geneva, New York, Milan, Singapore, Paris, Djakarta, Kuala Lumpur, Dubai and Kuwait City. "This year, our target is Japan. We are also on the lookout for a site in China".
Having produced 25,000 pieces last year, an increase of 25% compared to 2004, Audemars Piguet recorded "an excellent financial year". Its turnover exceeded 300 million francs. While at Baselworld the company presented an entirely updated collection, it still owes "more than 50% of sales" to its Royal Oak, a model whose renown has increased further thanks to the sponsorship of Alinghi, the winner in 2003 of the America's Cup.
In addition to its site in Le Brassus, Audemars Piguet has production units in Le Locle (NE) and in Meyrin (GE). The group employs 750 people worldwide, including 600 in Switzerland.
May 05, 2006
