For three decades, she secured Audemars Piguet its standing as the only major Swiss luxury watch manufacture still in family hands. Now the great-granddaughter of company founder Jules-Louis Audemars is stepping down as chair of the prestigious brand, to be succeeded by former Tiffany chief Alessandro Bogliolo. A look back at the remarkable career of a journalist, fighter, and poised grande dame of the Swiss watch industry.
Stepping Down After 30 Years at the Top
Large corporations dominate the Swiss watch industry with overwhelming force. At times it can feel as though the most powerful players – Swatch Group, Richemont, and LVMH – control the entire sector. For 30 years, the face of what is arguably the most prominent exception has ranked among the most influential women in Swiss industry: Jasmine Audemars. Her departure as chair of the board, which officially takes effect on November 11, 2022, marks a turning point in the nearly 150-year history of the high-end manufacture. From its very beginnings in 1875, the company has been owned by the two founding families, Piguet and Audemars, who handed down their leadership roles to the next generation as a matter of course.
In 1992, Jasmine Audemars took over the board from her father, Jacques-Louis Audemars, who had given the independent manufacturer the greatest success in its history by boldly pushing through the Royal Oak. The "grande dame of the Swiss watch industry," as the press calls the now 80-year-old, placing her alongside industry icons such as Jean-Claude Biver and Georges Kern, quickly became a resolute, forward-thinking head of the great house. The difference from her predecessors: Jasmine Audemars has no descendants.
From Journalist to Watch Icon
Instead, this passionate watch personality, for whom the financial health and independence of her brand was always a matter close to her heart, can look back on an impressive career. After studying social and economic history in Geneva, which left her with a close bond to the cosmopolitan city on the Rhône that endures to this day, she worked for the daily newspaper Journal de Genève, gaining deep insight into the world of international trade relations. That knowledge would later prove invaluable in running the company.
Jasmine Audemars devoted almost 25 years of her life to journalism, rising to the top of her newspaper in the 1980s. In doing so, she became Switzerland's first female editor-in-chief – and loved her job above all else, despite the daily pressure and the fact that editors-in-chief don't make only friends in this world. Making decisions, meeting fascinating people, learning from daily mistakes – while her father set the manufacture on an unprecedented path to success, Jasmine pursued a career of her own.
The abrupt change of scene in 1992, when she took over as president of Audemars Piguet, didn't faze her. Quite the opposite: then 50, she identified (and still identifies) 100 percent with her family's watchmaking tradition, assumed the chair as naturally as her predecessors had, and had no fear of the new role. The first big splash came just a year after she took office: 1993 saw the launch of the brawny Royal Oak Offshore, which over the following three decades grew into a tremendous success alongside the regular Audemars Piguet Royal Oak.
Patience, Discipline, and Responsibility
The businesswoman's patient composure in the face of challenges was to pay off. The company's sound financial footing made it possible to build a new manufacture in the middle of the 2008 financial crisis to urgently expand capacity. And in the second half of the 2010s, when many watch brands were struggling with falling sales, the manufacturer under Jasmine Audemars kept writing its success story without pause. Thanks to her journalistic background, the watch company president was thoroughly familiar with the international economy and understood the advantages of good diversification. While other companies expanded massively in China, the strategic leader focused on solid sales across every continent.
Like the Audemars Piguet Royal Oak Offshore and other timepieces from the high-end brand, Jasmine is a fascinating character with rough edges. As contradictory as the watch industry's balance between preserving historical values and constant evolution may seem, so contrasting are the impressions you get in conversation with the elegantly dressed businesswoman. On the one hand passionate, enthusiastic about her profession, her eyes sparkling as soon as she is asked about her years in journalism; on the other hand calm, observant, and above all disciplined. Jasmine Audemars regards discipline as a luxury and punctuality as a given in her industry.
A Watch Personality With Convictions of Her Own
A representative of the watch industry who shows up late? Unthinkable for this self-assured lady. In other respects, too, the departing mistress of the Royal Oak and company is a woman of clear vision who can answer complex questions concisely and who questions things rather than simply accepting them. Smartwatches, for example, are not something the grande dame of mechanical watchmaking rejects per se; she sees them as an interesting segment alongside traditional watches, though one that cannot match the emotional impact of a genuine automatic movement. She places particular value on local responsibility, stressing that in the hometown of Le Brassus especially, many jobs and family histories depend on the well-being of the world-famous company – and on the uncompromising quality of the top brand, which for Jasmine Audemars is not up for discussion. [box type="info" align="" class="" width=""]Jasmine Audemars is especially proud of the unspoiled nature of her Swiss homeland, which is why she wholeheartedly serves as chair of the AP foundation dedicated to saving tropical rainforests – a role she will retain after leaving the board.[/box]
The Successor: A Brief Profile of Alessandro Bogliolo
Whether her successor will lead Audemars Piguet with the same assurance remains to be seen. Alessandro Bogliolo's résumé certainly sounds promising: the 57-year-old Italian, who lives in New York, was CEO of Tiffany & Co. from 2017 to 2021, after spending 16 years as chief executive of the Italian fashion brand Diesel. That role followed various management positions at Bulgari in the US, Singapore, and Italy. Bogliolo certainly doesn't lack the luxury-industry experience needed to fill his predecessor's big shoes.
Yet the era of the last watch manufacturer owned by its founding families is not coming to a complete end. After Jasmine's departure, a leading family member will still be part of the company: 63-year-old Olivier Audemars, who took over as vice chair of the board from his aunt Paulette Piguet in 1997 and is a great-grandson of the second company founder, Edward Auguste Piguet. _____________________________________________________________________________________
Image credits: Featured image: By Rama - Own work, CC BY-SA 2.0 fr, https://commons.wikimedia.org/w/index.php?curid=1563549 Portrait of Jules Audemars: By Alexaube - Own work, CC BY-SA 4.0, https://commons.wikimedia.org/w/index.php?curid=108993844 Portrait of Edward Piguet: By Alexaube - Own work, CC BY-SA 4.0, https://commons.wikimedia.org/w/index.php?curid=108993980