François-Henry Bennahmias, CEO of Audemars Piguet

François-Henry Bennahmias is a man of great ambition. Ever since he was a small child he has wanted to be number one! And to reach his goals, he gives himself the means. A relentless worker, demanding, admittedly hard at times yet able to show real humanity to those around him, the famously outspoken CEO of Audemars Piguet can be proud of his results. Since taking the helm of the brand in 2012, he has doubled its turnover, bringing it close to the one billion CHF mark. By freezing production at 40,000 pieces a year in 2015, he focused on the quality of the products and on the distribution network. Today the whole industry acknowledges his success, but he has no intention of stopping there. Ever further, ever higher, ever faster: a man who draws inspiration from Yoda, the small, ugly, frail-looking Jedi master, he wants to embody the kind of strength that comes from sheer willpower. Meet a man whose sense of humour is matched only by how relaxed he is in front of the camera.

Hello François-Henry Bennahmias, how has Audemars Piguet been doing since you took over the brand?

Well, let’s say pretty well, since we have just wrapped up a very good 2017. In fact, it is the sixth year in a row in which the current year has beaten the previous one. Six years running. When I took over the company, it was turning over a little more than 500 million, and in 2017 we almost reached one billion. So I think that’s rather good. And all this with volumes that have remained very, very reasonable, since we haven’t increased them. Since 2015 we have been at 40,000 watches and we are not making a single one more. We won’t make a single one more in 2018 or in 2019 either.

So in terms of strategy, with a brand like Audemars Piguet, you think long term?

We have no choice. When the founding families are still running the company and it is the fourth generation, I’d say: “of course we have to keep and nurture that spirit of continuity!” We are an independent house. Naturally we want to stay that way, and to be as strong as possible so that the question never even arises. Along those lines, a lot of new business models are emerging. As for us, we are going to try to become even stronger so that we are still here in 250 years.

Mr Bennahmias, let’s talk a little about you. First of all, can you tell me what you are wearing on your wrist?

Well, I’ll tell you: I’m wearing the big success of 2017! It’s the Royal Oak ceramic Perpetual Calendar, a watch that is particularly close to my heart, because a long time went by between the moment I asked for it and the day I finally had it on my wrist. So here it is today! A year later I still can’t take it off, I love it and I get lots of compliments on it. There you go!

Is it something of a lucky charm for you?

For a while yet, I think so.

Are you a collector?

In general?

In general, of watches…

Yes, of course.

Would you also describe yourself as a passionate person?

Well, if I weren’t passionate, I’d have to change jobs. I’d be in completely the wrong house.

Apart from watchmaking, what are your other passions?

Music… Shows… in general… Those aren’t things you collect, except for the number of times you go to see a show. Art, of course, which is something particularly close to my heart. Wine, which I enjoy. I have a well-stocked cellar, and I do like it (smiles). Earlier you saw Emmanuel Renaut, a three-star chef from Megève and a great friend of mine. He recently introduced me to Chartreuse, a liqueur you don’t often come across. Now and then we manage to get hold of a few lots. And he just told me, right in front of you, that we are going to try to track down some old bottles. That’s always fun. But I’m not an alcoholic! (Laughs).

Would you call yourself an epicurean?

Oh yes, absolutely, no question about that.

Do you have a particular taste for luxury?

Yes, that’s putting it mildly. And not just luxury for myself, by the way. I have a dear and wonderful partner in crime… I have a passion for women’s shoes, so she is very happy, because I spend my life buying them for her.

What is your personal definition of luxury?

Exclusivity! True luxury is exclusivity, it’s rarity, it’s the fact that something isn’t everywhere, available at any time… Today the word luxury has become somewhat devalued, because in fact everyone uses it. And it ends up meaning just about anything. Real, true luxury is craftsmanship, rarity, exclusivity… That is my real definition!

Apart from Audemars Piguet, is there a house, in watchmaking or in another field, that embodies this definition of luxury?

Well, there are two very great luxury houses that I respect enormously: Hermes and Chanel. Those are my two real role models.

Mr Bennahmias, I did a little research on you… (Interrupted)

Uh-oh….

It seems you had a first life. Can you tell us about it?

My first life as a professional golfer?

Exactly!

In my first life, I wanted to be world number one, simple as that! I wanted to be the best golfer on the planet. Back then my heroes were Severiano Ballesteros, Tom Watson and people like that. One day I said: “That’s what I want to be!” And then I failed miserably, since at my “very, very best” I reached 25th place in France. In those days we lost money… We didn’t earn any! And then one of my very good friends told me: “You’ll never be world number one, come and work with me.” He took me out of golf and brought me into fashion. I spent 7 years in the fashion world before I started working for Audemars Piguet. That was 23 years ago now!

23 years already! You don’t look your age, I must say.

I’m 67, you should know that… (Laughs) in career years!

(Laughs) Perhaps that’s also because you are a man in a hurry, and every year for you is worth…

Half a year, yes, exactly! (laughs)

Along this journey, do you feel, or do people make you feel, like something of an outsider? You didn’t make it as a professional golfer, but today it’s fair to say you have truly succeeded in watchmaking.

Well, let’s say it’s not bad, yes of course. But that’s my competitive spirit. In fact, neither Audemars Piguet nor fashion were deliberate choices. It’s the experiences and the people you cross paths with in life that make you move. I never imagined that one day I would work for a watch house. When people first started talking to me about watches, my first answer was: “But I know nothing about watches!” And the person told me back then: “Don’t worry, you’ll manage just fine!” So yes, there’s the side of having discovered something I knew absolutely nothing about, but on the other hand, in my DNA, there’s this drive to always win, to do better, to go further. So indeed, I found myself a rather enjoyable playground.

Is there a contemporary or historical figure who inspired you at some point in your life?

Well, among real people, yes, there’s one who keeps coming back to me: Muhammad Ali. Sadly, he is no longer with us. I had the chance to work with him 3 or 4 times. He was an extraordinary character. And among those who are neither real nor contemporary, it’s Yoda!

(Laughs)

But for a simple reason, mind you! Why? Because people say, OK, Yoda, he loves Star Wars… It’s not Star Wars! It’s Yoda!! And you should know that even with Star Wars, I stopped at episodes IV, V and VI… After the first 3, which aren’t actually the first 3, I stopped watching Star Wars. So for me it’s Yoda, for a simple reason: he is very, very old, since he’s almost 900, he’s not exactly handsome, yet that makes him handsome all the same, he gives off zero intellectual or physical power, and yet he is the ultimate force. And I really love that! That’s something that speaks to me and I like it. He said a line which, incidentally, is on a plaque at the entrance to my office, on the door. That way, even before you come in, you know… It reads: “Do or do not, there is no try.” And I’m one of those people who believe that in life, you either do or you don’t. Trying already means taking the risk of failing. So we will fail, but that’s not a big deal. The goal is not to fail 20 times on the same things… but then to do it. Let’s go, let’s move forward!

How many employees does Audemars Piguet have?

Today, Audemars Piguet has 1,600 employees: 1,000 in Switzerland and 600 in the rest of the world.

What qualities do you look for in your employees?

The ability to always think about doing things together. So today, every time new employees join, the managers know it (because obviously I don’t hire everyone myself, given the size of the group): I expressly ask that everyone who joins the company has that human touch, which is essential. We want very strong talent, of course, but I will value the human side at least as much as talent. In other words, if you bring me someone with outstanding talent but no humanity, they can’t join us, I’m not interested and it’s bad. When I took over Audemars Piguet in 2012, all wearing the same Audemars Piguet jersey, I had an orange team, a blue one, a yellow one, a green one, a black one. It was unworkable! The attitudes between groups were unbelievable. I said we absolutely have to break that! Because in the end, the jersey is Audemars Piguet. Imagine a football team in which the defender won’t pass the ball to the midfielder or the centre forward because he doesn’t like him? He wouldn’t want to because he’s not interested. It’s unplayable! So everyone has to play together perfectly. And for that you need very, very strong human qualities.

In a house with 1,600 employees, is it actually possible to instil a start-up spirit?

Absolutely. It’s not a question of numbers, it’s really a question of work, every single day. And when I say every day, I mean every day!!

Every day, working on this culture of “We work together, together, together, yes!”

So would you say that today you are the captain of a team?

I’m the captain of a team, absolutely! At one point they even did something for me: they gave me a watchmaker’s coat with the word “Coach” on it. It didn’t say “Director”. Because nobody cares about that, it doesn’t matter. But coach, I really liked that.

One essential question, which will be the last, Mr Bennahmias: on Audemars Piguet time, what time is it, please?

On Audemars Piguet time, there are no minutes, to begin with! On Audemars Piguet time, it is… (A few seconds of thought)… It is 11:59!

Thank you very much.

Goodbye.

Editor’s note: After this last answer from Mr Bennahmias, “11:59”, there was quite a lot of laughter and excitement in the office. Mr Bennahmias had just alluded to something highly confidential, probably in the works at the Audemars Piguet Manufacture. We agreed together to invite Passion Horlogère readers to put forward their own hypotheses, as a way of testing our readers’ insight and/or imagination. Feel free to share your comments with us. They will be passed on to Mr Bennahmias. And if one of you works out what it is, Passion Horlogère will offer them a nice gift!