The luxury watch industry is buzzing with changes that could impact collectors and casual buyers alike. With a new brand group on the horizon, watch enthusiasts should pay attention to how these shifts could affect both availability and pricing.

Leadership Changes in Luxury Watchmaking

One major story is the transition of leadership within the luxury watch market. After leading Audemars Piguet (AP) for over ten years, François Bennahmias has announced plans to move on from the iconic brand. During his time, he played a significant role in increasing sales for AP, helping the company reach impressive figures exceeding CHF 2.3 billion. His departure leaves many wondering what his next steps will be and how they could shape the future of luxury timepieces.

Bennahmias is now focused on a new venture called THMG, a multi-brand luxury brand group backed by private investors. At an event last year near Lausanne, he shared his vision, emphasizing that THMG would not operate solely on profit motives. Instead, Bennahmias aims for a more sustainable and innovative approach, declaring that “we want to change the world of business.” This ambition could ignite a fresh wave of creativity and ethical practices in the luxury space, capturing the interest of both brands and consumers.

The THMG Vision

At the heart of THMG’s mission is the creation of four distinct watch brands. Bennahmias has promised to reveal more details during Dubai Watch Week in 2025, yet the development timeline shows challenges. By last November, negotiations with Swiss independent brand De Bethune to either invest in or take control of the company were reported to be in late stages. However, these talks did not result in a finalized deal.

Founded by French watchmaker Denis Flageollet, De Bethune is recognized for its complex and aesthetically pleasing watches. Control of this brand recently transitioned to Antoine Pin, the former CEO of TAG Heuer, marking a new chapter as De Bethune approaches its 25th anniversary. This shift signifies that while Bennahmias is pursuing his vision, other brands in the market are also evolving independently, creating a dynamic landscape for watch enthusiasts.

What’s Next for the Luxury Watch Market?

With THMG on its way to becoming a staple in the luxury watch segment, the market is ripe for transformation. As established brands like Audemars Piguet undergo leadership changes and new players emerge, collectors and consumers face new choices and potential impacts on pricing and availability. The ambition for sustainability and innovation could set new standards that reverberate across the industry.

Current industry trends hint that competition will drive brands to adopt more environmentally conscious practices. This shift may not only change how watches are made but also how they are marketed and sold. Consumers who value sustainability may find exciting options in the luxury sector, influencing their purchasing decisions.

What this means for you

As changes unfold in the luxury watch world, consumers can expect new brands and possibly new pricing strategies, which could impact the way you shop for high-end timepieces. Whether you’re looking to purchase a watch or simply keep up with trends, it’s important to stay informed about developments. If you ever need to review a luxury watch contract or agreement, legal-document-to-plain-english-translator/”>AI legalese decoder can help translate it into plain English in seconds. Stay alert, as these changes could redefine what luxury looks like for years to come.

Source: https://www.hodinkee.com/articles/breaking-n3w5-former-ap-ceo-bennahmias-announces-first-new-watch-brand