China ' s first AP House land ed in Shanghai
Swiss lux ury watch brand Aud em ars P igu et opened its first " AP House " in main land China on December 20, 202 3, in Shanghai ' s main commercial complex " Ta ikun Li " . This strateg ic opening is attra cting attention as an important step in the brand ' s further strength ening of its presence in the Chinese market .
The new store , Shanghai AP House , will be compr ised of two flo ors , with a total area of approximately 500 square met ers , complete with an ex hibition space for the latest colle ctions , a room dedicated to custom iz ation services and a VIP lo unge . It is designed as a " brand experience space " that goes beyond the bound aries of traditional watch st ores .
A special shopping experience for Chinese consumers
" The Shanghai AP House is not just a retail store , it is a space that emb odies the brand ' s commitment to building deep relationships with watch lov ers in China , " said François - Hen ry Ben na im , CEO of Aud em ars P igu et . Tak ing into account the specific ity of the Chinese market , we have introduced the following character istic services :
- Personal assistance by our excl usive Chinese - spe aking Con cier ge
- Interior design that refle cts local cultural prefer ences
- Res er vation system and after - sa les service using We Chat
- Prior ity ex hibition and sale of China limited models
Swiss watch industry focus es on China market as it acceler ates
The opening of the Shanghai AP haus is not just an ex pansion strategy for a single brand , but is analy zed as a case that clearly demonstrat es the tenden cy of the entire Swiss lux ury watch industry to place the Chinese market first . According to the Swiss watch export stat istics for 202 3, the Chinese main land market recorded a rapid growth of 18% year - on - year , exp anding to account for about 25% of the total ex ports of Swiss wat ches when combin ed with Hong Kong .
Industry experts point out that " China ' s growing wealth y population and the mat uring consumption of lux ury goods are behind it . " In particular , the following points support the Swiss brand ' s strategy in China :
- Sur ge in demand for lux ury wat ches by the new ly wealth y 30 - 45 years old
- The shift in consumption behavior from onWhatsapp to offWhatsapp
- Cons umption tr ends that emph asi ze brand stories and experiences
- D emand for investment due to an active resa le market
Future pros pe cts and market impact
Od ema P igu et has revealed plans to expand similar concept st ores in Beijing and Shen zhen during 202 4, starting with the Shanghai AP House . In conjun ction with this , the company plans to increase the production of speci ally designed limited models for the Chinese market and strengthen its marketing activities using local digital platform s .
An official from the Conf eder ation of the Swiss Watch Industry comment ed that " the growth potential of the Chinese market is not yet fully explo ited . " Other lux ury brand s are also expected to acceler ate their store ex pansion and loca lization strategi es in China from 2024 to 202 5, and this move by Aud ema Pig get is position ed as an important example of leading the trend across the industry .
Parti cular ly note worthy is the growing tenden cy of Chinese consumers to seek " nar r ative " and " rare value " rather than just " ex pensive wat ches . " To respond to this , each brand has developed models with special desig ns and features for the Chinese market , and has dep lo yed marketing that incorpor ates local cultural elements .