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Within the no-travel COVID-19 period of social distancing, Audemars Piguet’s native presence has turn into tremendously vital. The model has a observe of decentralising energy and duty throughout its totally different areas so Southeast Asia CEO Stefanie Ng has discovered herself in a difficult state of affairs. Throughout the Circuit Breaker, Ng and her staff had to determine learn how to interact with collectors personally, one thing she says is vital for the enterprise within the area. Identical to the remainder of us, this concerned the staff selecting up new abilities in digital connectivity. Nonetheless, this can be a superb watchmaking model so the dearth of a bodily contact was keenly felt. “It’s nonetheless vital to have interaction with one another in actual life as quickly as situations enable it. Constructing true relationships goes past the digital world,” stated Ng.
Appointed to her present place in 2019, Ng has been with the model since 2012, and within the commerce since 2004. At the moment, she not solely leads the enterprise for the international locations on this area, but in addition India and Australia. We caught up together with her digitally.
How is Audemars Piguet dealing with COVID-19 in Southeast Asia?
Southeast Asia remains to be doing properly due to the regular demand for the model. We’re fortunate to be on this place and our shoppers are nonetheless indulging in superb timepieces. When tourism took a huge hit, we noticed a big rise in native gross sales, in each market. The pandemic has simply highlighted how vital relationships with native shoppers are. We’re glad we did the transfer (from wholesale to retail) years in the past.
On the provision aspect, the manufacture has additionally been hit. What’s the state of affairs now?
Though we needed to shut manufacturing for 2 months throughout confinement in spring final yr, we’re doing properly. Even when we now have produced fewer watches in 2020 than in 2019, they’re nonetheless in very excessive demand. Our primary goal is to not make amends for the months that we now have misplaced, however to deal with 2021, 2022 and 2023 as an alternative, whereas utilizing our agility and our means to vary our methods of working so as to get even nearer to our shoppers.
On that word, how vital is Southeast Asia to Audemars Piguet?
Our industrial technique advantages from a really wholesome and well- balanced repartition. In 2020 Asia accounted for roughly 40%, Europe 33%, Americas 16% and Center East 11%.
It appears the posh sports activities watch has turn into the brand new regular, relegating the costume watch to the sidelines. The watch that began this all is the Royal Oak (virtually 50 years in the past), and it appears completely cheap to think about it a up to date costume watch. What’s the model’s place on this phenomenon?
The Royal Oak did begin a brand new development in 1972. In the present day virtually each watch model has a luxurious sports activities watch of their portfolio. Not all shoppers personal a number of watches, which is the rationale why the one they select has to fill a number of functions. Code 11.59 by Audemars Piguet does precisely this. We imagine Code 11.59 by Audemars Piguet embodies the modern wristwatch. In the long run, the market decides what sells.
Certainly, many know the Royal Oak earlier than they know Audemars Piguet. Once they go to us, they ask for what they’ve heard of. We then have the chance to introduce what we do, how we do it and why. The Code 11.59 by Audemars Piguet assortment is an amazing platform to do precisely this.
How is the gathering doing now that the shock of its debut is just a few years previously?
It takes time for folks to simply accept a brand new assortment. With the launch of the 2020 new color references, we’ve seen a rising demand for the Code 11.59 by Audemars Piguet. We imagine that the brand new Code 11.59 by Audemars Piguet is right here to remain, as a member of the Audemars Piguet household.
Please inform us in regards to the retail technique for Audemars Piguet on this area.
Our retail technique is to deal with our private relationships, and improve the proximity between our groups and the Audemars Piguet relations and this has been constant the previous few years. We evolve it barely since 2020 however we nonetheless stay centered to reinforce our consumer’s expertise and higher reply to their evolving wants and expectations. We don’t essentially want 4 partitions to promote watches. We will promote a watch anyplace: on a golf course or at eating places with our nomad ambassadors. The essential query that we ask ourselves is how we are able to provide an unforgettable experience to a client outside of the boutique.
You might be one of many few girls holding senior administration roles within the watch commerce. Is that this difficult? And if that’s the case, how do you deal with it?
The problem is identical for anybody holding senior administration roles, within the watch commerce or not. Being resilient, adaptable and selecting to see challenges as studying alternatives relatively than disruptions is vital.
And eventually, a egocentric query: 2021 is the twentieth anniversary of WOW. What’s one thing in regards to the journal that stands out in your reminiscence? A narrative maybe? Or perhaps one thing in regards to the founder, Eddy Koh.
I bear in mind the first time assembly WOW founder Eddy after I simply joined the commerce in 2004 as a junior marketer. His pleasant character and keenness about watches left a deep impression with me. Being one of many pioneers in watch publications, I congratulate Eddy and the staff at WOW on their twentieth anniversary.
For extra details about Code 11.59, head over to Audemars Piguet’s official web site here.