According to Swiss media Le Temps, Audemars Piguet and Richard Mille will leave SIHH in 2020. SIHH watch exhibition originated in 1991, five watch brands including Baume & Mercier, Cartier, Piaget Piaget, Gerald Gentat (acquired by Bulgari) and Daniel Roth (acquired by Bulgari), left Baselworld has established the International Haute Horlogerie Salon in Geneva. Compared with Baselworld, it is more inclined to miniaturization, boutique and private. Until 2017, SIHH was only open to brands, dealers, journalists and VIP customers, not to the public. In 2018, 35 brands, 20,000 visitors, and 1,500 journalists came from all over the world to participate. After 27 years of development, SIHH has become one of the two most grand exhibitions in the world. Audemars Piguet has been participating in SIHH since 1995, and Richard Mille has been with him since 2010. Why does Audemars Piguet CEO FH.Bennahmias leave SIHH in 2020? Audemars Piguet CEO FH.Bennahmias gives such an explanation. In the future, Audemars Piguet will focus 100% of its operations on consumers, not agents and journalists. Every year the high costs at the SIHH show will be shared by the watch brands and eventually transferred to consumers. With the change of the distribution model and the development of Internet communication, agents and journalists have become less important than before. Instead of spending money on them, leave it to consumers. In July, Nick Hayek, president of the world’s largest watch group Swatch Group, also announced that the group would withdraw from Basel World, the world’s largest watch exhibition, from 2019 and no longer participate. The reason is that with the development of the Internet and transportation, the watch business has become ‘more transparent, faster and more natural,’ and no longer requires traditional exhibitions. At the same time, the 18 watch brands under it can save 340 million yuan in expenses every year without participating. At the same time, the traditional watch sales model is that brands give watches to agents first, and then they sell them to end consumers. This model can allow brands to quickly open stores in unfamiliar countries and regions to achieve expansion. However, this model has disadvantages. It is difficult for traditional distributors to stand on the same front with the brand for a long time and steadily. In order to obtain short-term benefits, they often take things such as discount promotions, cross-region cross-stocking, etc. Especially for high-end watches such as Audemars Piguet, its harmfulness is very great. Audemars Piguet’s decision was not made by Audemars Piguet Royal Oak @ACM, but after a long-term market test. From 540 points of sale in 2011 to 200 to 220 points of sale at the end of 2018, Audemars Piguet has been closing dealers’ stores. There are fewer and fewer shops, but more and more money is made. The CEO of Audemars Piguet said in an interview with Monochrome that this year Audemars Piguet’s sales have achieved double-digit growth, and the total brand sales will exceed the 1 billion Swiss francs mark, which is about 6.9 billion yuan. At the same time, the brand will cancel cooperation with agents that ‘operate multiple brands at the same time’ within 3-5 years, and gradually establish a more strictly controlled sales network. Even Audemars Piguet says they can buy former agents. Such a change is not good for consumers in the short term, because it is increasingly difficult to get higher discounts in stores directly operated by brands, and the actual price of watches will become more and more expensive. But in the long run, it is good. Consumers can get better service, and the value retention of watches in the secondary market will be more robust. There were too many brands that were not strictly controlled before, which led to the decline! At the same time, announced its withdrawal from the SIHH watch exhibition, Audemars Piguet will launch small events throughout the world throughout the year, with only end consumers and news invitations. This will also reduce the months-long delay between the launch of the new watch and the arrival of the store. Richard Mille @ HodinkeeAudemars Piguet It is clear that Audemars Piguet left SIHH, so why did Richard Mille leave? The reason is simple: Audemars Piguet owns 10% of Richard Mille’s Richard Mille, and even Richard Miller’s stores are handed over to Audemars Piguet to operate. Richard Mille Richard Miller looks cool now, but in the early days of the brand’s birth, technology research and development capabilities were not strong. In order to develop, Richard Mille cleverly found a backer, this backer is & quot; APRP & quot ;, the full name is ‘Audemars Piguet Renaud & Papi’. & quot; APRP & quot; was co-founded by former Audemars Piguet employees Dominique Renaud and Giulio Papi in 1986. The main direction is to design, develop, and produce high-end complex movements, without making watches. The technology behind many big brands comes from APRP. According to incomplete statistics, it includes Audemars Piguet, Lange, IWC, Chanel, Cartier …. & quot; APRP & quot; was originally called ‘RP’, but in 1992, because of funding problems Dominique Renaud and Giulio Papi sold most of their shares to Audemars Piguet, which was completely controlled by Audemars Piguet, and was renamed ‘APRP’. Audemars Piguet now holds nearly 80% of APRP shares. According to the contract, half of the high-end movements produced by APRP must be supplied to Audemars Piguet, and the other half can be sold. APRP, as Audemars Piguet’s son, must give priority to Audemars Piguet’s needs. This is awkward for Richard Mille, who had no R & D ability before. Wind and rain, maybe someday you ca n’t take the movement from APRP, or APRP plays a little clever and sells defective products to Richard Mille, delaying the delivery time … So, for long-term good cooperation, Richard Mille 10% of the shares were sold to Audemars Piguet, and even some of Richard Miller’s stores were given to Audemars Piguet to operate. The elder brother is leaving, the brother must follow, and this is obviously a road to Kangzhuang!