Audemars Piguet’s 2021 sales reach 1.6 billion Swiss francs, expected to surpass Patek Philippe

In 2021, Audemars Piguet’s sales will reach 1.6 billion Swiss francs, a significant increase from 1.2 billion Swiss francs before the epidemic in 2019 and 1.1 billion Swiss francs last year.

Speaking to media around the world via video, CEO Fran├žois-Henry Bennahmias referred to his 10 years at the helm of the brand, “We now have 2,500 employees, double what we had 10 years ago.”

Fran├žois-Henry Bennahmias revealed that Audemars Piguet sold 45,000 watches in 2021, roughly the same as in 2019, and is expected to increase sharply to 50,000 this year. After 2022, production growth will be slow and gradual.

According to Morgan Stanley’s annual report on the Swiss watch industry, Patek Philippe’s sales in 2019 were 1.45 billion Swiss francs, but in 2020, the brand’s sales fell to 1.16 billion Swiss francs. Audemars Piguet has been much less affected by the outbreak, with sales almost flat in 2019 and 2020. With sales of CHF 1.6 billion in 2021, Audemars Piguet is expected to surpass Patek Philippe to become the fifth largest watchmaker in Switzerland (in terms of sales).

In addition, Audemars Piguet may also surpass Longines. The latter generated sales of CHF 1.65 billion in 2019, but fell to CHF 1.15 billion in 2020.