AP acquires majority stake in components specialist

Luxury Swiss watch brand Audemars Piguet has reportedly acquired a majority stake in components manufacturer Inhotec.

The Swiss-based firm has been operating since 2011 and already supplies AP and some of its competitors.

Its factory in Le Locle will continue to operate independently for now, and Alexandre Eme, the company’s founder, will retain a minority stake and stay on as CEO and chairman.

Audemars Piguet is already known for its vertical manufacturing integration and keeping the process in-house, so this acquisition will be seen as a strengthening of its position further.

It “demonstrates Audemars Piguet’s commitment to preserving and strengthening both the Swiss watchmaking industrial ecosystem and its own long-term industrial independence,” the brand said in a statement.