Audemars Piguet says its commercial momentum has shifted, reporting record monthly sales and a surge in customer engagement after the Royal Pop collaboration with Swatch. The collaboration, launched in May, featured brightly coloured timepieces attached to lanyards priced at $400, and produced intense social interest that the company says translated into sustained traffic and sales.
Ilaria Resta, Audemars Piguet's chief executive, said the launch produced more than 20 billion mentions and conversations on social media and sent millions of younger consumers into the world of mechanical watches. "We've had a record month every month since the launch of the Royal Pop," she said. Resta added that the company's website crashed and boutiques saw nonstop visits as both newcomers and established collectors sought the new model.
The campaign has two commercial aims, Resta said: to spotlight mechanical watch movements and to broaden the audience for Swiss watchmaking. She described the strategy as "radical openness" and warned that brands that rely solely on heritage and elite marketing risk extinction. "Either you dare or you die," she said. Alongside the Royal Pop release, Audemars Piguet is rolling out AP Labs, pop-up experiences focused on education and recruiting watchmakers. Resta said no watches are sold at AP Labs, their purpose is education and talent development.
The results come amid a difficult environment for the wider Swiss watch industry. Industry reports show the number of Swiss watches exported globally has fallen by more than half since 2011, and total sales declined 1.7% last year. The market is increasingly concentrated: Rolex, Patek Philippe, Audemars Piguet and Richard Mille now account for roughly half of industry sales and about 76% of profits. Audemars Piguet itself produces about 53,000 watches a year versus more than 1 million from Rolex, and its Royal Oak models typically start at $30,000, with the most complicated pieces selling for over $200,000.
At the same time, the company faces rising costs and policy friction. The U.S. has imposed tariffs on Swiss goods that have driven the current rate up to 12.5%, and Swiss exports to the U.S. fell 19% in August despite a 9% global growth in exports. Higher prices for materials such as gold and a strengthening Swiss franc have squeezed margins industrywide. Resta said Audemars Piguet chose not to pass tariff costs to customers and has applied only modest price increases to offset material costs. She said the company recorded organic sales growth of 10% in 2025 and that 2026 "will beat that record even further."
Audemars Piguet is also directing all proceeds from the Royal Pop collaboration to an initiative to train and educate watchmakers, a move aligned with the AP Labs programme and the company's emphasis on sustaining skilled craftspeople for the industry. The combination of a high-profile entry product, experiential outreach and targeted investment in skills positions Audemars Piguet as a test case for how a legacy luxury brand can pursue growth when the broader market faces headwinds.
