LE BRASSUS, Switzerland – Audemars Piguet, the Swiss luxury watch brand best known for the highly sought-after Royal Oak, will offer to replace clients’ stolen watches as part of a new service programme created in response to a surge in watch-related crime.
If a registered customer’s watch is stolen and there is a valid police report, they will be offered a choice of a refund or a replacement of the watch. If the watch is no longer being produced the company will offer a similar model in the current collection. AP makes about 50,000 watches a year, the majority of which are Royal Oak and Royal Oak Offshore models, according to Mr Bennahmias. Sales were about 2 billion Swiss francs in 2022, an increase of 26 per cent from 2021 and 78 per cent from 2020 when the pandemic briefly halted production and sales.
Other major Swiss brands are also making moves to address the surge in watch crime but none have, so far, offered to replace stolen watches. Cartier and Vacheron Constantin owner Richemont said last week it is building a digital platform to help police forces fight theft of luxury watches and jewellery.