Audemars Piguet Acquires Majority Stake in Inhotec SA

Audemars Piguet's decision is part of a drive to protect and strengthen the competitiveness of its supply chain. The investment (the amount of which has not been disclosed) is a win-win for both companies: while the brand wants to ensure the long-term availability of components, Inhotec SA will be able to continue operating independently, retaining the customer base it has built up over the years.

Inhotec founder Alexandre Eme expressed his satisfaction with the agreement: ‘By joining forces, we are creating the conditions necessary for Inhotec to continue innovating and serving the entire watch industry,’ he said in a press release issued late Wednesday afternoon. The businessman will remain CEO and Chairman of the Board of Directors, ensuring that the company continues to pursue its industrial and commercial strategy in line with its long-term vision.

‘This investment secures the future of precision craftsmanship that contributes to the excellence of Swiss fine watchmaking,’ commented Lucas Raggi, recently appointed Chief Industrial Officer of Audemars Piguet, suggesting that this acquisition may not be the last.

Active in Switzerland since 1875, Audemars Piguet is the oldest independent family-owned fine watchmaking company. This year, it is celebrating its 150th anniversary.

Last year, the manufacturer posted estimated sales of 2.38 billion Swiss francs and produced just over 51,000 watches in its workshops in Le Brassus.

For several months now, the Swiss watch industry has been facing uncertainty caused by a number of factors, including falling demand in China and, most recently, a massive increase in customs duties (39%) on Swiss exports to the United States. The increase in these taxes is forcing Swiss manufacturers to find innovative solutions as quickly as possible in order to continue trading with the United States, the watch industry's largest market with an estimated total value of CHF 4.4 billion in 2024, representing 16.8% of total exports.

The acquisition of Audemars Piguet is part of a strategy to respond to these disruptive factors and secure the future of the sector.