Art Basel: Linking Audemars Piguet and Art

The video discusses the challenges faced by the Swiss watch industry, particularly due to the strong Swiss franc and the luxury nature of the products. Audemars Piguet's strategy of focusing on long-term goals and maintaining low inventory levels is highlighted. The company's cautious approach to the Chinese market and its growth potential in the USA and Europe are also covered. The potential impact of the Brussels attacks on sales is considered, with a focus on the resilience of their customer base. Finally, the video explores the connection between art and watchmaking, emphasizing the emotional value of their products.

What is one advantage the Swiss watch industry has over other Swiss products?

• Lower production costs

• Lack of outside competition

• Higher demand in local markets

• Better marketing strategies

How has Audemars Piguet's family ownership influenced its business strategy?

• Prioritizing share value

• Expansion into new markets rapidly

• Emphasis on generational thinking

• Focus on short-term profits

What approach did the company take towards the Chinese market?

• Rapid expansion during boom times

• Cautious and gradual entry

• Aggressive marketing campaigns

• Complete withdrawal from the market

How have past events similar to the Brussels attacks affected the company's sales?

• Sales have significantly dropped

• Sales have fluctuated unpredictably

• Sales have remained largely unaffected

• Sales have increased

What is the company's perspective on Art Basel?

• A chance to compete with other brands

• A platform for launching new products

• An opportunity to connect with art

• A major commercial event

How does the company view the relationship between art and watchmaking?

• They are completely unrelated

• Both provoke emotions and share craftsmanship

• Art is superior to watchmaking

• Watchmaking is more technical than art

What has the company learned from collaborating with artists?

• Artists provide new perspectives

• Artists focus only on aesthetics

• Artists are difficult to work with

• Artists have no impact on their business