Audemars Piguet, a prestigious Swiss watch brand, is redefining its approach to marketing by eliminating gender-based labeling of its watches, recognizing the growing demand for luxury watches among women.
According to CEO Ilaria Resta, women are becoming the biggest growth drivers of luxury watch sales, and the company will no longer refer to “men’s” or “women’s” watches in its boutiques or marketing. This change reflects the increasing blur between traditional product lines in the luxury industry.
Resta, one of the first female CEOs of a top Swiss watch brand, noted that women’s spending power in watches is expected to grow as they receive nearly half of the $100 trillion Great Wealth Transfer.
The company’s decision is also in line with the growing trend of gender-neutral luxury, which includes unisex clothing, accessories, and jewelry. While traditional wisdom suggests that women prefer smaller, more feminine watches with fewer complications, Resta said that women are increasingly interested in more complex timepieces with diamonds and complications.
To cater to this demand, Audemars Piguet is highlighting women in its events and marketing, including an event at Art Basel Miami featuring Serena Williams and Simone Biles. The company is also focusing on organic growth and increasing the production of more complicated watches, rather than production volume, to focus on quality over quantity.
With the luxury watch industry expected to decline, engaging women and younger buyers will be critical to restoring growth. Audemars Piguet’s approach may set a precedent for other luxury watch brands to follow, as the industry adapts to changing consumer preferences and market conditions.
