Audemars Piguet CEO Sees Clientele Getting Younger

The transcript discusses the demand and pricing of Royal Oak watches, highlighting the impact of economic conditions on sales. It explores trends influencing the luxury watch market, particularly the growing interest among younger demographics. The conversation also covers marketing strategies tailored to younger audiences and the future prospects of luxury watches, emphasizing the distinction between traditional and smart watches.

What is the average price range for Royal Oak watches?

• $20,000 and up

• $10,000 and up

• $30,000 and up

• $40,000 and up

How does the company adjust its pricing strategy in response to economic changes?

• By increasing production

• By adjusting prices based on economic conditions

• By maintaining prices based on production costs

• By reducing production

Which industry trends are considered when planning for the luxury watch market?

• Digital technology

• Automotive and private aircraft

• Fashion and music

• All of the above

Why does the company avoid integrating digital technology into their watches?

• It would make their watches automatic

• It would require more resources

• It would increase production costs

• It would make their watches less unique

What demographic change has been observed in the luxury watch market?

• The age of buyers has decreased by 10 years

• Older customers are buying more watches

• The age of buyers has increased by 10 years

• There is no change in the age demographic

How has the marketing strategy evolved to cater to younger buyers?

• By using traditional advertising methods

• By reducing the number of watch models

• By focusing on digital platforms and shorter communication

• By increasing sponsorships in sports

Why do Chinese customers prefer buying luxury watches outside of China?

• Better quality abroad

• Lower prices due to import duties

• More variety available

• Better customer service