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AP is run so poorly
As are many of these other family owned brands. They haven't had true disciplined management in a long time, and the founder energy is long gone. They are a ripe target for PE. It's easy to tell management like that is simply running a business with excellent PMF VS being good managers and running a business with excellent PMF.
McKinseyreport 2021 Interview with AP ex CEO Francois-Henry Bennahmias
Friends, Do we see the same old mistakes being made or are brands getting wiser and building their brand for the long-term? This is the entire McKinseyreport 2021 www.mckinsey.com �� ...
Thanks for the article, Marc.
Very interesting. It will also be interesting to see what changes Ilaria Resta makes at AP. All the best, Jon
"We monitor our inventory like hot milk on a stove"
Classic Francois!! I miss him already.
😅 classic Sharp and take no prisoners sort of chap
I love this interview with him. He humbly says where they made their mistakes. A rarity in the Swiss watch industry. 🤝
I’ll take a look again when he stops beating that 1970’s Genta Horse.
And the music collabs just make me want to run. One step away from an Air Jordon AP.
Good article.
I read this article back in 2021 a month or two after June I think, and I did like the article. Thanks SingaporeMarc for this blast from the recent past!
AP is run so poorly
As are many of these other family owned brands. They haven't had true disciplined management in a long time, and the founder energy is long gone. They are a ripe target for PE. It's easy to tell management like that is simply running a business with excel...
German PE Desco already has a share of AP
For many years now. Other PE from Asia as well. But I feel like AP is much better run now and doing well overall. Could just be my perception… 🤷🏻♂️ Neo CEO so let’s see. 🤝
Majority control yes. The Bottinelli family etc
The son lives in Singapore. But my point is that PE already owns some of AP. 🤝
I still don’t
get how their production is capped but can be found on the wrists of every other person you meet. Nonetheless they still epitomize haute horology particularly in the r&d dept!
The royal oak has been in production since 1972
… and they all have similar looks at glance. Quartz too. The offshore since 1993. So many thousands have been made. Maybe this explains why so many are seen. For me, only certain “classic” royal oaks that are the most “collectible” ones. 5402, 15202, 1620...