Stefanie Ng, CEO of Audemars Piguet Southeast Asia, on Cultivating Relationships

Stefanie Ng, CEO of Audemars Piguet Southeast Asia, discusses the brand's philosophy and its strategies for navigating the challenges of 2020.

Stefanie Ng

During the no-travel COVID-19 period characterized by social alienation, Audemars Piguet's local presence has gained significant importance. The brand employs a strategy of decentralizing authority and accountability throughout its various areas, placing Southeast Asia CEO Stefanie Ng in a difficult position. During the Circuit Breaker, Ng and her team had to devise methods to individually contact with collectors, which she asserts is crucial for the business in the region. Similar to others, this required the team to acquire new competencies in digital connectivity. Nonetheless, this is a distinguished watchmaking brand, so the absence of a tactile experience was acutely perceived. “Engaging with one another in person remains essential as soon as circumstances permit.” “Establishing authentic relationships transcends the digital realm,” stated Ng.

Ng has held her present position since 2019, having worked with the brand since 2012 and in the industry since 2004. She currently oversees the business operations for this region, as well as India and Australia. We connected with her online.

What measures is Audemars Piguet implementing to address COVID-19 in Southeast Asia?

Southeast Asia continues to perform robustly due to consistent demand for the brand. We are fortunate to have this position, and our clientele continue to indulge in exquisite timepieces. Following the substantial decline in tourist, there was a notable increase in local sales across all markets. The pandemic has underscored the significance of partnerships with local clientele. We are pleased that we transitioned from wholesale to retail years ago.

The manufacturing sector has also been adversely affected on the supply side. What is the current status?

Despite halting production for two months during the confinement in spring of the previous year, we are performing well. Despite producing fewer watches in 2020 compared to 2019, demand remains exceptionally high. Our primary objective is not to recover the months lost, but to concentrate on 2021, 2022, and 2023, leveraging our agility and adaptability to enhance our proximity to clients.

What is the significance of Southeast Asia to Audemars Piguet?

Our sales strategy is enhanced by a robust and well-balanced distribution. In 2020, Asia represented around 40 percent, Europe 33 percent, the Americas 16 percent, and the Middle East 11 percent.

The luxury sports watch appears to have established the prevailing standard, relegating the dress watch to a secondary position. The Royal Oak, introduced nearly 50 years ago, can be aptly regarded as a modern dress watch. What is the brand's stance on this phenomenon?

Code 11.59 by Audemars Piguet Selfwinding in Burgundy

The Royal Oak established a novel trend in 1972. Currently, nearly every watch brand includes a luxury sports watch in their collection. Not all clients possess multiple watches, which necessitates that their chosen timepiece serves many functions. The Code 11.59 by Audemars Piguet accomplishes precisely this. We assert that Code 11.59 by Audemars Piguet epitomizes the modern wristwatch. Ultimately, the market determines what is commercially viable.

Many are familiar with the Royal Oak prior to recognizing Audemars Piguet. Upon their visit, they inquire about what they have heard. We then get the opportunity to present our activities, methodologies, and rationale. The Code 11.59 series by Audemars Piguet serves as an exceptional platform for this purpose.

What is the current status of the collection given that the initial impact of its launch has diminished over the years?

Individuals require time to embrace a new collection. The introduction of the 2020 color references has resulted in an increased demand for the Code 11.59 by Audemars Piguet. We assert that the new Code 11.59 from Audemars Piguet is a permanent addition to the Audemars Piguet lineage.

Kindly provide information regarding the retail strategy of Audemars Piguet in this region.

Our retail strategy emphasizes cultivating personal ties and enhancing proximity between our personnel and the Audemars Piguet family members, a practice that has been consistent over the past few years. Since 2020, we have made small modifications while maintaining our focus on enhancing the client experience and effectively addressing their increasing requirements and expectations. Four walls are not a prerequisite for selling watches. We may market a watch in various locations, such as golf courses or restaurants, utilizing our nomadic ambassadors. The essential inquiry we pose is how to provide an indelible experience to a client beyond the boutique.

Lastly, a self-serving inquiry: 2021 marks the 20th anniversary of WOW. What aspect of the publication remains prominent in your recollection? Could it be a narrative? Alternatively, it could pertain to the founder, Eddy Koh.

I recall my initial encounter with WOW creator Eddy when I commenced my career in the profession as a junior marketer in 2004. His amiable disposition and enthusiasm for timepieces made a lasting effect on me. I extend my congratulations to Eddy and the WOW team on their 20th anniversary as pioneers in watch publications.