Audemars Piguet 

Through the Eyes of 

CEO Ilaria Resta

(Timepiece) As Resta puts it, 2025 is a moment to find the ‘red threads’ of success that have allowed the brand to enjoy historic booms while avoiding the watchmaking industry’s famous busts. From surviving the disruptive quartz crisis of the 1970s—when cheaper, mass-produced quartz timepieces flooded the market and upended the dominance of mechanical watches—to thriving amid the constant winds of change in the contemporary luxury market, Audemars Piguet has remained steadfast by blending innovation with tradition. The brand, which enjoys prominence as part of Switzerland’s ‘Big Four’ private watch brands alongside Rolex, Patek Philippe, and Richard Mille, is an industry giant (its yearly sales typically exceed €2 billion). Nonetheless, it remains a company with humble roots.

Founded in 1875 in Le Brassus, a small village in the Vallée de Joux, Audemars Piguet began as a partnership between Jules Louis Audemars and Edward Auguste Piguet, two young watchmakers driven by a passion for precision. The pair specialized in high-complication watches and set a standard for mechanical excellence that resonates with the 2,000-plus staff the brand employs today. Remarkably, the business is still family-owned, giving it a rare independence in an industry dominated by corporate groups. Over the decades, this autonomy has allowed Audemars Piguet to innovate freely, from introducing the ultra-thin calibers of the mid-20th century to revolutionizing luxury watch design with the still highly coveted Royal Oak in 1972.

These examples highlight the remarkable legacy Resta has inherited, supported by the business expansion led by François-Henry Bennahmias, previous AP CEO. His achievements included the launch of the AP House concept. The network of 23 concept spaces in key international cities has redefined the luxury retail environment, offering clients a cultural and emotional connection to the brand. Yet, while Audemars Piguet’s past is undoubtedly extraordinary, the company’s unique culture, built over the past century and a half, appears to resonate most deeply with Resta.

Maison Ë You came into the industry with little prior knowledge. How has the landing been, and what are the take-home achievements from year one?

Ilaria Resta It has been an extraordinary journey—diving into our heritage and know-how, while feeling an immediate sense of belonging and community. Learning about the intricacies of the watchmaking industry, which is a new business for me, and building the team during market changes has been both enriching and stimulating. Our results are satisfying, we continue growing, and there is a strong client interest in our timepieces.

Our focus on innovation, developing new calibres and materials, and preparing for the 150th anniversary, involves a holistic effort across multiple departments. Most importantly, this celebration aims to honor everyone who has contributed to what Audemars Piguet has become today: a Manufacture built on passion, audacity and remarkable craftsmanship. A Manufacture that continuously seeks fresh ideas, drives innovation, and reinvents itself while remaining true to its roots.

M.Ë With such an anniversary, how do you project modernity while showcasing tradition?

I.R. Companies with a rich heritage like ours have thrived across various centuries and significant historical events. They’ve often had a roller-coaster journey, and of course, this is certainly true for Audemars Piguet. In 150 years, there have been multiple events—both positive and challenging—including economic crises, from the crisis of 1929 to the many others that followed, as well as periods of uncertainty and recovery. There was also the quartz crisis in the 1970s, a time when quartz technology disrupted the mechanical watchmaking market.

Anniversary celebrations can tempt us with nostalgia, risking getting stuck in the past. Yet, our past offers countless moments of resilience and lessons on how AP has thrived and survived. Anniversaries are an opportunity to rediscover our business, uncover the red threads of our success, and use this wisdom to enrich our future. Standing at the crossroads of past and future, we are excited to be a part of the next 150 years and continuing our journey.

Moving forward, while we are a brand with limited production, we know the interest in watchmaking is vast, and we want to nurture it—thanks to various activations such as our museum and exhibitions. The anniversary is an excellent opportunity to showcase our craftsmanship and expertise to the world, while expanding interest in watchmaking beyond just Audemars Piguet. It’s like museums opening their doors to people interested in art—it’s about discovery and learning, not necessarily buying.

This year’s novelties will honor our rich history while propelling us into the future with cutting-edge mechanical innovations. Stay tuned!

M.Ë You’ve come into this industry fresh and are now exploring 150 years of a brand’s past while planning its future. What within the company’s culture do you think has made it stick around for so long?

I.R. When you decode a company’s success, you look at many aspects—products, manufacturing, strategy, etc. But the human factor, channeled through the right culture, is the most important key. We have amazing people and watchmakers. At Audemars Piguet, the human factor and our unique culture drive our success. We have unleashed creative freedom among our talented people, leading to extraordinary innovations. We are constantly seeking advancements in Haute Horlogerie while staying at the forefront of culture—music, art, and entertainment.

The personalities within our company are key. At Audemars Piguet, we have a good sense of humor, and we say we do serious things but don’t take ourselves too seriously. This might sound like a marketing motto, but it’s the essence of who we are. We are happy to break the status quo—it means we’re not driven by hierarchies, which is interesting. Because of this, ideas flow very quickly through the organization and can come from anywhere. These circuits of creation are great, but you need courageous leaders to take ideas further and refine them into the brand.

M.Ë Regarding AP House, what ingredients make these spaces memorable, and how does that help connect with high-net-worth individuals?

I.R.  This concept aims to open the brand’s doors and offer clients a unique experience, far from the traditional commercial spaces. We showcase pieces from our museum and organize events celebrating our passions, such as music and art, with exhibitions and spaces for interaction.

We do not measure AP House’s success based on one-to-one visits but rather on witnessing visitors or customers gathering and sharing common interests. Some people have used these locations to celebrate birthdays, meet friends, and connect with other AP clients with whom they have formed friendships. One client even proposed to his partner at an AP House. While some may prefer iconic landmarks or romantic restaurants for proposals, others find unique and meaningful places, like an AP House, to be the perfect setting for such a special moment. The fact that he felt so at ease organizing this with the boutique manager is a beautiful illustration of what the AP House concept encompasses, and I love that we support this.

M.Ë ‘Experience’ is an overused word in retail, but here, with AP House, you’ve crafted something that genuinely offers an emotional response. How do you do this?

I.R. This concept has enabled the brand to create an international community of enthusiasts and build lasting relationships. By using the language of emotions, we bring our clients closer to the brand’s universe, its talents, and their expertise. You feel the reflection of local culture from one AP House to another through how they are designed. Each AP House is different, blending local culture with our company’s brand DNA.

M.Ë How do you define your design and brand codes when talking to potential customers and collaborators?

I.R. We have defined product codes for our four collections: Royal Oak, Royal Oak Offshore, Royal Oak Concept, and Code 11.59 by Audemars Piguet, each with a unique DNA. These are untouchable. We play with materials and push the boundaries of decoration. When it comes to collaborations, we push boundaries on both sides. The recent partnership with artist KAWS was fantastic. The result was the Royal Oak Concept ‘Tourbillon COMPANION’, a groundbreaking piece featuring a miniature COMPANION at the very heart of the watch—a first for both the brand and the artist. When you wear the watch, the COMPANION is looking at you. The artist wanted that specific position, challenging us to develop an innovative peripheral time display. We used monochromatic grey with different finishes to give depth. Every aspect of a collaboration like this pushes us. However, we must remain true to the brand and its DNA.

M.Ë Wearers of your watches speak passionately about your brand and products. Why is this the case?

I.R. When you talking about our timepieces, the word that often comes up is ’emotion’. We believe that the ability to transfer emotions from the watchmaker to the wearer is what creates this unique connection. Wearers of our watches speak passionately about our brand and products because they are not just timepieces—they are mechanical wonders infused with emotion. You see people who are passionate about watches, constantly admiring them and sharing their Audemars Piguet watches with others, creating a sense of pride and joy. These watches embody the concept of movement, with the energy to power them being self-produced. This unique combination of craftsmanship and innovation fosters a deep connection and enthusiasm among our clients.

M.Ë How does something that is ‘luxury’ convey ’emotion’?

I.R. I struggle with the word ‘luxury’. I am trying to find a better term. It’s the industry of emotion, craftsmanship, creativity, and mechanical genius. Luxury is a small output of what we are trying to do. ‘Luxury’ talks about exclusivity, while we are aiming to balance with inclusivity. The issue is that too many categories go into the definition of luxury, but what unifies them is the feeling of fulfillment and emotion the client gets. Craftsmanship and creativity are vital. It’s essential that innovation and the drive to move forward have meaning and stories behind them. Without a clear ‘why,’ whether it’s for a watch, product, or car, the result is inauthentic. To me, luxury goes beyond high-quality products. It’s about the human connection and the sense of belonging that comes with it.