Mr. Bennahmias's reaction to the bad publicities about Code 11:59

[DasKptl]

He seems to be dismayed and somewhat angry. Interesting:

https://www.youtube.com/watch?v=tGvV...&frags=pl%2Cwn

[Terrakot]

I'd be angry too if the host couldn't stop drinking something during the interview. So douchey

[tyler1980]

he pretty much said what i thought. Its an AP for people who dont wear RO or ROO. The overlap is small. New customer. In that sense i totally agree its a good move. They sell the RO and ROO with no problems and there are a lot of customers who dont buy the brand because of those lines as well.

[GoingPlaces]

A bit defensive perhaps but interesting interview nonetheless. After seeing it, I see the strategy clearer. The overlap and new clientele. It is a somewhat polarizing watch for sure, just tune into social media for that. We will see how it does. The case is IMO beautiful, the dial will need to be sen in person but based on pictures it's un spectacular. The open works is art.

[Nick M]

Great video, thanks for sharing!

While I'm personally not a fan of the design, I think it is well executed for their target market. It would seem that Code 11.59 is taking a step buyers of brands like MB&F, Jacob&Co, and RM. I'm quite sure it will resonate with them.

[tyler1980]

Originally Posted by GoingPlaces

A bit defensive perhaps but interesting interview nonetheless. After seeing it, I see the strategy clearer. The overlap and new clientele. It is a somewhat polarizing watch for sure, just tune into social media for that. We will see how it does. The case is IMO beautiful, the dial will need to be sen in person but based on pictures it's un spectacular. The open works is art.

it looks better in videos as well vs a two dimensional photograph

[vman]

The new line is a significant miss for AP, and it has nothing to do with social media or the events of 1972. The remarkable flop is due to laziness on behalf of the brand.

When Royal Oak came out in early 1970, it was revolutionary. No, it was not for everybody due to the polarizing design. But such edgy designs are precisely the things that stir emotions and markets. The Mini Cooper, the 911, most works by Frank Lloyd, Apple computers, and countless other icons make their ways into people hearts because fans love them almost unconditionally. The quirkiness is the part of the charm. The other side of the coin—those who will not be caught dead, say, driving a Mini—do not matter because they are not the audience for products designed with emotion. That brings me to the latest ejaculation of the AP variety...

The line is a boring copy cat. A me too. A stepchild designed to ride the fame of the family name for no particular reason. AP would be much better off by introducing it quietly and without the fanfare that preceded the launch. All hype. No substance. And a significant step back for a manufacture that claims to represent haute horology.

P.S. You cannot say "finally made it" until you have the proof.

[benouah]

Of course he is going to defend his new baby.
But IMO this new line and the minor changes on the cash cow 15400 are quite disappointing.


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[SMD]

Very confused. Who is this younger generation he is speaking of? 19-25 year olds are going to buy these watches? Does he know any 19-25 year olds, other than the ones he is emailing with? How much overlap is there of a ven diagram of 19-25 year olds that (a) want a very expensive watch (as opposed to smart watch), (b) can afford one and (c) would buy the 1159? I know young bankers and lawyers in NYC and very few even want a watch, let alone a gold watch on a leather strap.

Next, on the one hand he states that they specifically chose to launch via social media because its a modern form of communication and then in the next breathe criticizes the knee jerk response of SM to the 1159. I assume they had some sense as to what social media was like before they made the decision to launch the way they did and in such big way.

Finally, I have no doubt this was a huge effort, that they spent a ton of time on this and the breadth of the launch was significant. I suspect that is where the defensiveness is coming from, but when you have to pull out an email from a 19 year old that is fluffing you for the 1159 launch as proof that it was a success, I think you have lost the plot.

They have a lot to work with here -- the case, the lugs, the sapphire -- that they can use to launch more, IMO, interesting dials and designs. I see some potential for this to evolve into a nice line of "dressier" watches for AP, but he does need to at least be open to hearing opinions that do not align with his or from that segment of their customer base that will applaud everything AP does. You cannot only listen to yes men.

[GB-man]

Francois be salty lol

The funniest part was at the end when wei gave him an award for last years announcement.

[Baco Noir]

Originally Posted by tyler1980

he pretty much said what i thought. Its an AP for people who dont wear RO or ROO. The overlap is small. New customer. In that sense i totally agree its a good move. They sell the RO and ROO with no problems and there are a lot of customers who dont buy the brand because of those lines as well.

Great video and now I understand where they were trying to go with the 11:59 and I like the 3 part case. Can't wait to see one IRL.

[tyler1980]

Originally Posted by GB-man

Francois be salty lol

The funniest part was at the end when wei gave him an award for last years announcement.

how does a 19 year old customer get his email address? thats what i want to know. As I'm assuming his real email that he actually reads isn't some obvious @audemarspiguet address

His nephew doesn't count

[Kimber007]

Originally Posted by tyler1980

how does a 19 year old customer get his email address? thats what i want to know.

I would have had a MUCH easier time finding out his email address at 19 than I would have buying a $20k watch

[GB-man]

Originally Posted by tyler1980

how does a 19 year old customer get his email address? thats what i want to know. As I'm assuming his real email that he actually reads isn't some obvious @audemarspiguet address

His nephew doesn't count

Then he shows it to Wei to prove he is not making this up because...you know...it might be hard to believe.

Something tells me he read that from a fans post on the MVMT forum.

Honestly I don't hate the watch. All it needs is new dials and those are easy to change. Throw a no date on there like the MR, change the fonts and make it steel and I think its pretty cool.

[tyler1980]

Originally Posted by Kimber007

I would have had a MUCH easier time finding out his email address at 19 than I would have buying a $20k watch

if your "customer" is <20 years old though, that means you are putting all your marbles on being trendy and thats a dangerous position to be in with a very fickle demo. There is no way i would highlight that segment no matter if they were buying my watches or not and you definitely dont cater to them.

Its one thing rolex does right... they make you like what they make. They dont make things to be chasing a segment. You have power when they come to you, not when you are chasing them.

[blacke90]

This confirms what I've been thinking. Let's keep in mind, AP didn't discontinue the whole Royal Oak line nor the ROO. Those products offering are still there. This launch, Code 1159, designed to gain a new AP clients, perhaps not the hardcore RO guy/gals.

[tyler1980]

Originally Posted by GB-man

Then he shows it to Wei to prove he is not making this up because...you know...it might be hard to believe.

Something tells me he read that from a fans post on the MVMT forum.

Honestly I don't hate the watch. All it needs is new dials and those are easy to change. Throw a no date on there like the MR, change the fonts and make it steel and I think its pretty cool.

wei seemed to be pretty upset that he had to talk about that watch too... i dont hate it either, but sitting down with a CEO i would expect a different reaction. It was weird.

Then when he talked about launching 13 models at once that will all hit stores very soon that was quite the spin. Yes, impressive but less so when Harrods has 5 watches on display because they are getting ready for the launch. Stock levels have been empty at every AD in London that still carries AP so its not like they did that "in addition" to. Thats the risk in the new line right there. Its taking production away from what does sell. So if its a flop how many RO or ROO did that cost them?

[Cru Jones]

Straightforward and direct, great interview. The CEO was not at all angry, dismayed or douchey, to use some words from earlier in this thread.

They do look a LOT better in the video.

But, I still think "Code 11:59" is a horrible name.

[GoingPlaces]

Originally Posted by GB-man

Then he shows it to Wei to prove he is not making this up because...you know...it might be hard to believe.

Something tells me he read that from a fans post on the MVMT forum.

Honestly I don't hate the watch. All it needs is new dials and those are easy to change. Throw a no date on there like the MR, change the fonts and make it steel and I think its pretty cool.

Yes, that part was weird. Just in case someone calls him a liar later.

I don't think I would have referred (or used) to a 19 year old's praise on that platform, a bit weak for sure. I'm sure there are some wealthy kids out there that can afford this but hardly a market base or target demographic.

Oh, and yes that is an odd name for a watch. I bought a "Code 11:59"...hmmm.

[benlee]

I thought the interview was rather lame. Not enough probing questions given the huge controversy. At end of the session they just hugged, smiled and posed for the camera. Probably done purely for PR purpose more than anything.

[Peterandwatches]

It’s the ultimate spin. If the instant reaction is positive, claim a victory. If it’s negative, insist that a polarizing opinion means you’ve done something daring, and an audience will eventually come.

It might end up being true, but it’s an effective way to buy yourself time.

[marc12]

Take away the Nautilus, Patek is still Patek
Take away the Overseas, VC is still VC

Take away the Royal Oak, AP is nothing, sadly.

[singe89]

Good interview and can agree with many of his points and some not so much.

The good
Case
Crystal
new movements
PC, skeleton tourb and MR

The bad
Dial on the 3 hand and chrono
date location
the name

The bad can be easily changed/evolved in the coming years.

Social media is a very difficult platform full of lots of negativity. Bashing something and creating memes that make fun of something gather many more views/likes. I found some of them to be very creative. Time will tell if the new line is hit or miss.

[rw2008]

Originally Posted by marc12

Take away the Nautilus, Patek is still Patek
Take away the Overseas, VC is still VC

Take away the Royal Oak, AP is nothing, sadly.

Ding Ding Ding

[Macnavara]

Haha 1 random 19 yr old likes it so catastrophy averted

All joking aside I actually really like the wg chrono and see it as a refreshing option to the one trick pony aka royal oak

[JR16]

The interview was HILARIOUS! My office staff was asking me what was so funny when I started laughing out loud when that guy brought out the espresso in the middle of the interview, when he started reading the email from a 17 year old and kept tapping his phone to prove it was real, and at the end w the weird kissing scene.

With that said, my take home was that AP is trying to expand their customer base bc like posted above, currently without RO or ROO they have nothing noteable. If, however, they think that their new target audience is 17-21 year olds or that the name “Code 1159”
was the best they can do, then there may be trouble down the road.


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[tyler1980]

Originally Posted by JR16

With that said, my take home was that AP is trying to expand their customer base bc like posted above, currently without RO or ROO they have nothing noteable.

it makes sense on the surface. Actually thinking about it though they need to increase production.

Keeping production flat and flooding all these new watches, they take away from something else for every one they make.

I think its great AP is staying small-ish but with the amount of watches and variations its getting way too limited on a per watch basis. You ensure the "dogs" are the only watches that will ever be on display anywhere. Thats not the best optics.

Walking into an AD in six months a new customer sees 1 offshore, 0 RO, 5 ladies RO's, 2 ladies ROO, and 15 Code watches. I guess they will automatically identify that as the flagship watch that AP is all about.

[JR16]

Originally Posted by tyler1980

it makes sense on the surface. Actually thinking about it though they need to increase production.



Keeping production flat and flooding all these new watches, they take away from something else for every one they make.



I think its great AP is staying small-ish but with the amount of watches and variations its getting way to limited on a per watch basis.

Completely agree - I guess I was assuming that production of the new line would not impact production numbers of existing lines. Time will tell if they should have only introduced a few of the 1159s each year rather than smack consumers in the face with more than a dozen.


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[singe89]

Originally Posted by marc12

Take away the Nautilus, Patek is still Patek
Take away the Overseas, VC is still VC

Take away the Royal Oak, AP is nothing, sadly.

well the overseas isn't nearly the popularity level of the Nautilus or Royal Oak.

Take away the oyster and rolex would be the cellini.....

People get too caught up in the iconic Royal Oak as a name and say AP is a "one watch company" there are more variations, complications and materials across all the RO lines than rolex has variations in the oyster case. Rolex just gives them different names.

Patek is dress watches and "basic" luxury sport watches. They just put their most complicated movement in the nautilus and its just a PC. AP on the other hand makes far superior and complicated luxury sport watches.

[tyler1980]

Originally Posted by JR16

Completely agree - I guess I was assuming that production of the new line would not impact production numbers of existing lines. Time will tell if they should have only introduced a few of the 1159s each year rather than smack consumers in the face with more than a dozen.


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they have indicated previously they are keeping it flat. Not sure if that changed but going off that you are making these instead of something else.