Audemars Piguet debuts Royal Oak Joaillerie collection at private events

“While watchmaking is still largely a male-oriented market, jewellery is the opposite,” Federica Levato, a partner at consultancy Bain, told the Financial Times.

Royal Oak Joaillerie Pieces Debut at Private Events

The newly launched Royal Oak Joaillerie collection comprises 19 pieces with prices ranging from SFr48,000, equivalent to about $57,720, to several million dollars. The assortment features necklaces, chokers, bracelets, cuffs, and earrings set with diamonds, emeralds, and pink sapphires, with some individual stones weighing up to five carats. Unlike the brand’s standard watch distribution, these high jewellery items will not be sold through its 25 private clubs and boutiques known as AP Houses. Instead, the Swiss watchmaker will offer the items initially and exclusively at private client events. The strategy shifts the manufacturer into a product category that operates with different customers and distinct growth prospects compared to traditional watchmaking.

Jewellery Sales Grow While Swiss Watch Exports Fall

The diversification effort arrives as the watch and jewellery sectors follow contrasting financial paths. Swiss watch exports fell 1.7 per cent across 2025, according to data from the Federation of the Swiss Watch Industry, which included a 12.1 per cent decline in the Chinese market. Meanwhile, Bain anticipates that global jewellery sales will expand by 2 to 4 per cent throughout 2026.

Audemars Piguet chief executive Ilaria Resta noted that the company’s watch business remains extremely strong despite broader market dips. Morgan Stanley and LuxeConsult figures estimate that Audemars Piguet generated SFr2.6bn in sales in 2025, marking a 9 per cent increase from the previous year and capturing 5.6 per cent of the Swiss watch market. The manufacturer produced roughly 53,000 watches with an average retail price of about SFr51,000. In comparison, Rolex manufactured approximately 1m watches at an estimated average retail price of SFr14,000. Resta assumed leadership of Audemars Piguet in 2024, succeeding François-Henry Bennahmias, during whose tenure annual sales climbed from roughly SFr500mn to more than SFr2bn.

Audemars Piguet Draws on Long History of Jewellery

Resta argued that moving into high jewellery represents a natural evolution rather than an abrupt departure for the brand. Audemars Piguet has collaborated with independent jewellers since the 19th century, partnering with houses such as Cartier and Tiffany & Co., and established an in-house jewellery workshop during the 1980s. Gérald Genta, the influential designer behind the original Royal Oak model, originally trained as a jeweller and goldsmith.

The Royal Oak Joaillerie line translates the watch’s recognizable octagonal case and tapered bracelet links into dedicated jewellery pieces meant to be worn alongside the timepiece. Resta stated that the concept gained momentum during a client event held in Hong Kong in late 2025, where three pieces in the current collection were directly inspired by attendee behavior.

We noticed that our clients stack several Royal Oak Mini watches, wearing them as jewellery

Global Tour and Production Plans for Private Clients

The high jewellery items will be manufactured in limited quantities and fulfilled largely on demand during the upcoming international selling tour. Resta dismissed claims that purchasing items from the Royal Oak Joaillerie collection would grant clients preferential access to the brand’s supply-constrained timepieces. Other historic Swiss luxury houses have successfully bridged both categories over decades. Piaget introduced its own jewellery line in 1959 after manufacturing watches since the 19th century, while Chopard expanded into jewellery following the 1976 release of its Happy Diamonds watch design.

Audemars Piguet produced an estimated 53,000 watches in 2025 with an average retail price of about SFr51,000, establishing the foundation for its push into seven-figure jewellery pieces.