Luxury watchmaker Audemars Piguet and Richard Mille stated back at the end of September in 2018 that they would be withdrawing from the prestigious Salon International de la Haute Horlogerie trade show. Audemars Piguet and Richard Mille is currently two of five independent brands that is part of the annual show that is held every year in January in Geneva.
In a brief statement, Richard Mille stated that this year’s SIHH 2019 would be their last. The reasoning behind it was the trade model no longer works for the brand. The company, known for its highly advanced and limited-edition timepieces first joined SIHH back in 2010.
“The Richard Mille brand has developed considerably its international distribution network over the last few years, notably by opening a growing number of dedicated mono-brand boutiques. In turn, it has drastically reduced its representation through multi-brand retailers in order to qualitatively satisfy a constant increase in demand,” the company said in a statement. “Consequently, the brand’s presence at exhibitions no longer corresponds to its strategy for exclusive and selective distribution. It is with deep regret therefore that we are announcing our withdrawal from the Salon International de la Haute Horlogerie following the 2019 edition.”
Three hours after the announcement from Richard Mille, Audemars Piguet announced they too would be withdrawing after the 2019 show. The Le Brassus-based luxury timepiece brand whom has been part of the show for the past 19 years stated that a changing business model was the reasoning behind their decision.
“The evolving nature of the watchmaking industry is such that Audemars Piguet’s business model is changing and the manufacture has decided to explore new directions in order to forge closer and more direct relationships with end-clients and watch enthusiasts worldwide,” the company said in a statement.
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