In the late 1990s, Audemars Piguet’s main assets included 40% ownership of neighboring manufacturer Jaeger-LeCoultre, which has become the subject of fierce bidding in 1999. When Compagnie Financière Richemont finally took control of Jaeger, Audemars gave up a windfall worth hundreds of millions of dollars.
Audemars Piguet used the money to expand its own movement manufacturing capacity, bringing in the production of many movements previously purchased from Jaeger-LeCoultre and other suppliers. It also bought a controlling stake in the complex professional house Renaud et Papi. Therefore, Audemars Piguet has raised its position among watch connoisseurs who value both innovation and authenticity in complex timepieces. The company also took unprecedented steps to buy out distribution in the United States and other major markets, thereby curbing the flow of transshipment and discount watches. Destroy its image. Coincidentally, the revitalization of Audemars Piguet has been synchronized with the growing popularity of brawny sports watches. This trend is very suitable for the company's updated Royal Oak Offshore series.