Southeast Asia CEO Stefanie Ng shares how AudemarsPiguet coped with COVID19, its retail strategy and the luxury sportswatch trend. luxurywatches
In the no-travel COVID-19 era of social distancing, Audemars Piguet’s local presence has become tremendously important. The brand has a practice of decentralising power and responsibility across its different regions so Southeast Asia CEO Stefanie Ng has found herself in a challenging situation. During the Circuit Breaker, Ng and her team had to figure out how to engage with collectors personally, something she says is key for the business in the region.
, we saw a significant rise in local sales, in every market. The pandemic has just highlighted how important relationships with local clients are. We are glad we did the move years ago.Although we had to close production for two months during confinement in spring last year, we are doing well. Even if we have produced fewer watches in 2020 than in 2019, they are still in very high demand.
Indeed, many know the Royal Oak before they know Audemars Piguet. When they visit us, they ask for what they have heard of. We then have the opportunity to introduce what we do, how we do it and why. The Code 11.59 by Audemars Piguet collection is a tremendous platform to do exactly this.It takes time for people to accept a new collection. With the launch of the 2020 new colour references, we’ve seen a growing demand for the Code 11.59 by Audemars Piguet. We believe that the new Code 11.
The challenge is the same for anyone holding senior management roles, in the watch trade or not. Being resilient, adaptable and choosing to see challenges as learning opportunities rather than disruptions is important.
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