Audemars Piguet (AP) is one of the biggest success stories in luxury watches of the last decade. Founded in 1875, AP is the last historical watchmaker of its size still in the hands of its founding families. However, this may not last forever as some of its minority shareholders are exploring a possible sale of their holdings, Miss Tweed has learned. In a few years, LVMH could end up being the ultimate owner, sources with first-hand knowledge of the matter said.
AP has never been stronger in terms of cachet, sales and profitability. It commands the highest premiums on the second-hand market, together with Rolex, Patek Philippe and Richard Mille. Now is the best time to cash in, some shareholders believe, as the brand is at a crossroads. Its longstanding CEO, François-Henry Bennahmias, is due to leave next year and a replacement has not yet been found, industry sources said.
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