Audemars Piguet, the renowned Swiss watchmaker, has set its sights on expanding its female clientele with the release of two new Code 11.59 models. These 38mm timepieces, retailing at $33,200, are not exclusively for women but aim to attract a broader audience, especially in the female market.
The majority of Audemars Piguet’s sales have traditionally come from its iconic Royal Oak and Royal Oak Offshore lines, both with their distinctive octagonal cases. However, the company is now determined to bring its Code 11.59 line into the limelight. Launched in 2019, the Code 11.59 models currently account for approximately 15 percent of the company’s revenue. Outgoing CEO Francois-Henry Bennahmias anticipates that this percentage will increase to 20 percent by 2025.
Despite the initial mixed response to the Code 11.59 line, Audemars Piguet is committed to its growth and is introducing new models to strengthen its position in the market. The Code 11.59 line features a unique round case design, distinct from the brand’s signature octagonal cases.
While the design received mixed reviews, Audemars Piguet continues to refine the line, incorporating features like a more traditional date placement at three o’clock. Collectors and watch enthusiasts have provided valuable feedback, leading to improvements in the new models.
The Code 11.59 collection has been the platform for Audemars Piguet to showcase its innovative watchmaking capabilities. Notably, last year’s Starwheel watch introduced unique timekeeping mechanisms with wandering hours and retrograde minute hands. This year, the brand unveiled the most complicated automatic wristwatch in its history, the Code 11.59 Universelle RD#4, featuring over 1,100 components and 23 complications. It’s offered in closed and skeletonized versions, with prices ranging from $1.5 million to $1.6 million.
The success of the Royal Oak had initially led Audemars Piguet to house most of its complex movements within that family. However, the Code 11.59 line has become the platform for high complications, with a focus on combining complexity with daily wearability. It’s a significant departure from most ultra-complicated watches, which tend to be oversized and lack water resistance.
The company’s goal is to further increase its appeal to women. With the release of the 38mm Code 11.59 models, Audemars Piguet is taking a step toward attracting more female clients, aiming to raise the percentage of women in its clientele from 16 percent in 2021 to 40 percent by 2030.
These new models feature unusual colors for the watch world, such as a vibrant purple dial with a matching alligator strap and a more subdued ivory dial and strap. The designs showcase the brand’s collaboration with Swiss guilloché artisan Yann von Kaenel, featuring a circular motif created by hundreds of small holes forming an intricate pattern.
In an industry predominantly characterized by large watches, these new models offer an alternative that appeals to both men and women. The smaller size and elegant aesthetics of the 38mm Code 11.59 models are expected to resonate with a diverse clientele and help Audemars Piguet diversify its market.
With its commitment to innovation and expanding its product offerings, Audemars Piguet is poised to maintain its position as a leading luxury watchmaker while engaging a broader and more diverse customer base.
