China ' s first AP house is born in Shanghai
Aud em ars P igu et , a Swiss lux ury watch brand , offici ally opened its first " AP House " in main land China in Shanghai ' s bust ling district of Tai pei Li on December 20, 202 3. This strateg ic opening is dra wing attention as a symbo lic event that clearly shows the brand is acceler ating its full - f led ged entry into the Chinese market .
The Shanghai AP House has a large space of two flo ors , and is designed as a " brand experience " concept store that goes beyond the framework of a mere retail store . On the first floor , ex hib itions and sales of the latest colle ctions will be held , while on the second floor , a VIP lo unge and a special space will be set up to offer custom iz ation services .
A special shopping experience for Chinese consumers
A UD EMA P igu et ' s new st ores will offer a speci ally ta ilor ed shopping experience for China ' s aff lu ent consumers . The company has rene wed the traditional retail model and introduced the following distin ctive services :
- Store interior design and sp ati al compos ition taking into account local cultural prefer ences
- Prior ity ex hibition and sale of China market limited models
- Full compati bility with local digital payment systems
- Personal consult ation with Chinese - spe aking professional staff
- Special events to coinc ide with local ho lid ays
The Swiss watch industry changes its strategy in the Chinese market
The opening of this store is a clear signal that the entire Swiss lux ury watch industry is beginning to attach strateg ic importance to the Chinese market , not just to the trend of Aud em ars P igu et 1. In recent years , the following tr ends have become pr ono unced :
- Inc re ase in direct st ores to main land China (pre vious ly focus ed on Hong Kong and Maca u)
- Acc eler ating the development of products specific ally for Chinese consumers
- En han ced collabor ation with local digital platform s
- Ex pand ed Chinese - l angu age customer service
- Inc reas ed number of limited models incorpor ating local cultural elements
Parti cular ly note worthy is the fact that China ' s wealth y are growing as " col le ctors " rather than simply " buy ers . " Aud em ars P igu et and other lux ury watch brand s are sensitive to this change and are r eth ink ing their traditional marketing approach .
China ' s lux ury goods market growth potential
The opening of the Shanghai AP House is based on the current situation in which China ' s lux ury market continues to grow ste ad ily after the coronavirus dis aster . According to the latest market research :
- China ' s lux ury watch market gro ws 15% year - on - year in 2023
- New ly - wealth y 30 - 45 - year - olds emer ge as major purchas ing group
- D emand for lux ury brand s gro ws rapid ly in two - and three - tier cities
- After onWhatsapp survey , " hy brid consumption " buying in physical st ores becomes main stream
Aud em ars P igu et ' s head of China strategy desc ribes the Shanghai AP House as " not just a sales point , but a brand ' s ' embas sy ' that se eks to build long - term relationships with watch lov ers in China . " The company also revealed plans to open three more AP houses in China over the next five years .
New tr ends in the lux ury watch industry
Aud em ars P igu et ' s entry into Shanghai could have a major impact on the entire Swiss watch industry . Exper ts are predic ting the following market changes :
- Ex pand ed product Whatsapp up for the Chinese market
- Inc re ase the ratio of loc ally produced parts (to speed up service)
- Str eng th ening Digital Marketing Using China ' s S NS Platform
- The emer gence of a fusion model of traditional Chinese c raf ts and Swiss watch technology
- Sig nific ant ex pansion of after - sa les service system in China
The success of the Shanghai AP House will have a significant impact on the Chinese market strategy of other lux ury watch brand s . It is expected that competition between Swiss watch brand s over China will continue to intensi fy .