François-Henry Bennahmias has, after his decade-long tenure on the helm of Audemars Piguet, assured his place in watchmaking management’s Corridor of Valhalla. Whereas the truth that he took Audemars Piguet from a 600 million Swiss franc a yr enterprise to a 2.01 billion Swiss franc enterprise inside a decade is already extraordinary, it’s the manner that he did it that separates him from the remainder of the group. As a result of what Bennahmias has succeeded in doing is to rework the Royal Oak, a timepiece created by AP in 1972 because the world’s very first luxurious built-in bracelet, sports activities stylish watch, into an internationally acknowledged image for achievement.
The way in which he did it had its begin earlier than he took the reins of the corporate based mostly in Le Brassus. It dates again to his tenure as AP’s head of North America, when he launched into a overtly daring rescue mission for your entire watch trade to say its relevance within the tradition of immediately.
Due to him, Audemars Piguet turned the primary luxurious watch model to forge connections with the worlds of hip-hop by partnering with Jay-Z, sports activities with then-emerging athletes comparable to LeBron James, and cinema with Arnold Schwarzenegger. It was mainly due to Bennahmias that watches went mainstream, an effort he continues immediately together with his collaboration with Marvel. The outcome was a degree of need for the Royal Oak and all different iterations together with the Royal Oak Offshore and Royal Oak Concept that was unprecedented for any watch in our trade.
Bennahmias’ clear goal was to attain the identical degree of desirability for his watches as that of Hermès purses, making a situation the place demand far outstripped provide — a lot in order that secondary costs for Royal Oaks skyrocketed, making certain that the ready listing for brand spanking new watches solely grew longer and longer. If you happen to’re questioning who it was that created the present unprecedented recognition for watches, if you happen to’re questioning who single-handedly elevated the built-in bracelet class to turn into the preferred luxurious accent on the planet, if you happen to’re questioning why each superstar on the pink carpet is carrying a speaking piece watch, the reply is easy. It’s as a result of François-Henry Bennahmias willed this into being.
The next interview was a part of his “farewell tour,” as he’s now handing the reins of AP to a brand new CEO Ilaria Resta. However even then, he has put in place the following stage of accelerated development for the model, with a give attention to turning into one of the dominant gamers in girls’s watches. The interview befell on the launch of AP’s second collaboration with Marvel, which resulted within the Royal Oak Idea Tourbillon “Spider-Man.” That night, a pièce distinctive model of the timepiece, that includes Spider-Man in a black go well with and luminous components on the case, bought for a staggering 6.2 million U.S. {dollars} at a charity public sale. The interview was performed by a number of journalists, however I’ve amalgamated all essentially the most related questions and solutions right here, which to me represent Bennahmias’ masterclass on creating cultural relevance — one thing he has executed higher than anybody else.
So, how did the Marvel collaboration begin?
OK, let’s flashback to 2003 and 2004. It was after we had made the partnership with hip-hop and I used to be in search of different methods to boost our visibility. I noticed that Marvel was an increasing number of current in up to date tradition and I mentioned, “That’s it!” So we went to their workplace in New York. Audemars Piguet then was not what it’s immediately. And so they weren’t in any respect. So I mentioned, “OK, nothing goes to occur between AP and Marvel.”
Quick ahead to the 2010s, we had been the sponsor on the pink carpet on the Tony Awards. Don Cheadle [aka Colonel James Rhodes in the Marvel movies] arrived. He was carrying a unique watch model and I mentioned to him — keep in mind I didn’t know him on the time — “Sooner or later you will develop up and know which watch it is best to put on.” He requested, “What watch ought to I put on?” I mentioned, “AP.” And he mentioned “Inform me extra about AP.” And that was how we turned pals.
He began to put on our watches. We might discuss a number of instances a yr, then after a number of years we kind of misplaced contact. However that’s regular life and we’re each busy. Then in 2014 I bought a textual content from him. He requested, “The place on the planet are you?” I advised him. He mentioned, “The place are you headed subsequent?” “Paris,” I mentioned. He mentioned, “Me too”. So there we had been in Paris, having a drink, and I advised him that I had one remorse and it was that we’d by no means labored with Marvel. He mentioned, “What do you imply?” I advised him that in 2003/2004 we had gone to see them they usually mentioned no.
Don took his cellphone out and on the spot known as Kevin Feige, the president of Marvel Studios. So, three weeks later, I used to be in Los Angeles assembly the Marvel workforce. Don got here to the assembly as properly. The remainder is historical past.
How did you select Black Panther and Spider-Man as the primary collaborations?
Marvel selected the primary two. On the assembly, they introduced us six characters from the Marvel Universe. What’s spectacular about Marvel is how properly structured their planning is. They know years prematurely each film, sequence and spin-off they’re going to make with unbelievable accuracy. So that they advised us who they needed the primary two characters to be. Black Panther as number one. After which the second needed to be Spider-Man as a result of he’s actually the powerhouse of the Marvel Universe.
The Spider-Man watch includes a very cool sense of three-dimensionality…
I feel there’s a actually superb evolution in how we’ve got handled the character and the three-dimensionality we integrated into the Spider-Man watch. The brand new watch additionally includes a fully totally different motion that’s extra skeletonized to actually give the sensation of Spider-Man transferring by means of the city panorama. We actually needed to push ourselves when it comes to innovation, together with the pièce distinctive that will probably be auctioned off tonight. However for the third collaboration, Marvel gave us the chance to decide on the character. The watch is already executed and it’ll come out in 2025. And the identify of the hero is… I forgot.
Folks discuss concerning the opposition between the populist dimension of Marvel and the refinement of a model like Audemars Piguet — that the 2 don’t combine. What do you say to that?
I disagree and I’ll let you know a narrative that demonstrates what I imply. In 2021, after the launch of Black Panther in April, I went to play golf in Megève [in France]. I needed to take a golf cart, so I went into the professional store and sitting there was a child about 20 years outdated. He noticed the watch on my wrist right away and went, “Woah, Black Panther!” And with out fascinated about it, I took the watch off my wrist and handed it to him. He was shocked and mentioned, “Are you positive?” I mentioned, “Go forward, strive it on, I’ll be again.” Earlier than going to play I went again to the child for my watch and he mentioned, “You have to be François of AP. I like your model. Sooner or later I’ll get an AP!”
After enjoying I sat down for lunch. The waiter was one other child about 20 years outdated. He appeared on the watch and went, “Woah! I like Black Panther.” He mentioned, “I like AP, it’s the greatest! I can’t afford it now however sooner or later if I earn cash, I’ll purchase an AP.” That is the reply. There’s nothing improper with interesting to tens of millions of individuals, no matter whether or not they can afford the watch. It’s like Ferrari. Everybody is aware of who Ferrari is. Not everybody can afford [the cars] however there’s not a person on the planet that doesn’t dream of proudly owning a Ferrari. Identical factor for AP. Now the opposite factor to speak about is that there’s a lot of workmanship and authenticity on the coronary heart of this collaboration. We stay devoted to who we’re with this extremely sophisticated timepiece.
You had been a pioneer in connecting with the youthful era by activating common tradition. Why is that this vital?
It’s possible you’ll bear in mind in 2015 whenever you got here to see us on the SIHH when the Apple Watch got here out, most of the world’s journalists stored asking us, “You guys notice you’re lifeless, proper?” [They were] suggesting that the Apple Watch might wipe out the posh mechanical watch enterprise. The prevailing perception was that the brand new era can be completely bored with standard horology, that younger folks would solely put on both no watch or completely smartwatches. However guess what? Precisely the other occurred. To me, participating the younger era is prime. In contrast to another manufacturers, we discover that younger AP lovers are preaching the choir for AP to their mother and father and that is superb.
Why do you assume that’s the case?
After I was rising up, there have been solely 3 ways to study. Academics, mother and father and books. In the present day, many mother and father are studying from their children as a result of children have entry to limitless data by means of the net and social media. So, the equation has modified. We noticed a whole new era arrive and completely fall in love with the craftsmanship and artistry of mechanical watches, and [they] preached the worth of watchmaking to their mother and father. And one of many causes behind that is the connection between watches and hip-hop, sports activities, leisure, films and, sure, Marvel. AP performed an enormous function there as a result of it entered these fields earlier than anybody else.
Is a comic book character on a watch one thing radical and new?
No, we didn’t invent something. If you happen to look again on the Thirties, you’ll be able to see the proliferation of comedian characters comparable to Mickey Mouse showing on wristwatches. Then within the ’80s, Gérald Genta had the sensible concept to raise these characters by placing them on the dial of his high-end watches. So, within the early 2000s, I puzzled what’s the equal of Mickey Mouse immediately? There was just one reply: Marvel characters! Watches needs to be enjoyable ☺
It’s like when Richard Mille created his sweet watch assortment, I assumed to myself, “That is nice!” It enters into the world of enjoyable whereas nonetheless being savoir-faire pushed. So long as we respect the integrity of our craftsmanship and the watchmaking custom then why ought to we not have enjoyable?
At AP, we all the time say we’re a severe model however we don’t take ourselves too significantly, which means we’ve got integrity however we need to have enjoyable! Need one other instance? Go searching this room. Fifteen years in the past, this complete press convention would have taken place with us all carrying fits. In the present day, we’re all dressed tremendous casually. I’m carrying Spider-Man Nikes. Why? As a result of the most important evolution of the final 20 years is the merger between luxurious and avenue model. Fifteen years in the past, who would have thought Balmain and Balenciaga can be synonymous with sneakers or hoodies? Nobody. However that’s the actuality of immediately.
We all the time ask ourselves what we wish the long run to be. This is likely one of the the explanation why we made RD#4: essentially the most excellent grand complication in AP historical past however really easy to make use of as a way to reside with our instances and match our shoppers’ life-style.
What was certainly one of your proudest moments?
In my workplace, there’s a framed cutout of an article from 2005. It was the primary time AP made it into the Monetary Instances. And it’s the article about our collaboration with Jay-Z. On the time, no luxurious model had ever thought of a partnership with hip-hop tradition. So when I’ve friends from the music world coming to Le Brassus, I present them this text. And I inform them, you’re right here due to that. It undoubtedly opened doorways. You possibly can enter watchmaking from a number of angles, by means of sports activities, music, craftsmanship, problems… it doesn’t matter. Each a type of pathways is authentic.
Do you bear in mind the launch of this collaboration?
We held the press convention for the collaboration with Jay-Z at 9 a.m. on the 4 Seasons Resort on 57th Road. I stored saying to myself, I don’t even know who’s going to point out up. It could possibly be a catastrophe. However then 100 folks confirmed up. It was insane. We solely made 100 watches, 50 in chrome steel, 30 in rose gold, and 20 in platinum. All of them bought in a short time with none promoting past this press convention. And immediately it is rather tough to search out any of those items.
There’s a present Netflix sequence on Arnold Schwarzenegger that’s blowing up in recognition. How vital was the Royal Oak Offshore “Finish of Days” as the primary watch created for a film character?
I bear in mind the beginning of this venture very properly. We had been having lunch with Arnold in Malibu. He needed to purchase a few of our watches. And sooner or later, I requested, “You’re taking pictures a brand new film. Ought to we create a restricted version watch to be featured within the film, and public sale one piece on your charity?” He replied, “I like this.” The Offshore was new on the time and I needed to push it. A part of the watch’s success was undoubtedly the affiliation with the film and with Arnold. It took off and for a few years till 2011, the [Royal Oak] Offshore was promoting far more than the unique Royal Oak.
I’ll let you know one thing concerning the Royal Oak. In 2011, there have been discussions, very severe ones, about discontinuing the Royal Oak Jumbo. We had been making perhaps 150 items a yr. It was solely due to the celebration of its fortieth anniversary in 2012, by telling the story in the precise manner, that we slowly re-built the integrity of that piece. Ultimately, the Royal Oak took off, and now you’ll be able to see what it has turn into.
Do the haters on social media for the Marvel collaborations hassle you?
Since I used to be younger, I heard phrases like, “You’re not ok.” So I’ve developed a really thick pores and skin. However what I’ll let you know that in immediately’s world, persons are all the time going to guage you. Some folks will say that is one of the best factor ever, and a few folks will let you know it’s the worst. This can be a recreation it’s important to get used to, as a result of we’re enjoying it on daily basis. However in the long run, there is just one strategy to decide the result.
It’s like a boxing match. The ring is all the time proper. Ultimately, there’s all the time just one man standing. Many individuals judged our watch the CODE 11.59. The Black Panther. That’s superb. Now the place are we as a model immediately? We’re significantly better than we had been 10 years in the past. From 600 million to 2.01 billion Swiss francs, we’ve elevated the enterprise by greater than 300 p.c. Now we have a excessive perceived worth. So, someway, we have to be doing one thing proper.
If you happen to had been a Marvel character, who would you be?
The Hulk. On any regular day, I’m the nicest man on the planet. I’m pleased, I get extremely touched by nature, by magnificence, and many others. However then if I see somebody abusing energy, I need to turn into the Hulk.
I’ll provide you with a touch concerning the third character of the collaboration: it was a brand new one to me. And the watch is not going to function the figurative character, it is going to be executed in another way.
The competitors immediately is on the market in every single place: a brand new portray, a brand new automobile or a brand new boat. If the ready time for a watch is one yr, you would possibly purchase one thing else if you wish to reward your self instantly.
If I had been to return 40 years to my 18-year-old self, and also you advised me that sooner or later I used to be going to run a two billion-dollar firm and be in control of over 2,000 folks, that I might get to journey the world and meet so many unbelievable folks, I might say, please, inform me the place I signal! It’s been 29 years. I’ve been married to AP longer than with my two ex-wives. I go away proud to have constructed one thing particular that can carry on going. Another person is taking up and every thing is there to maintain on succeeding.
Am I appropriate that you just need to turn into as massive in girls’s watches as you’re in males’s watches — to surpass Cartier’s 2.75 billion Swiss franc turnover?
Sure and no. If you happen to have a look at the watch trade, nobody has achieved 50/50 parity between women and men’s watches. We need to get there ultimately. Sooner or later, we met a pair. The husband had his Jumbo on and his spouse mentioned, “I would like additionally a Jumbo.” I mentioned, “However your husband already has one.” She mentioned, “That’s his watch. I would like my watch. We don’t share watches”. So I mentioned, “You recognize what? You’re completely proper.” The [old] mind-set [about watches] has to evolve. It’s not males’s or girls’s, however simply watches.
