Former Audemars Piguet CEO Bennahmias Launches N3W5 Luxury Watch Brand
New Luxury Watch Brand N3W5 Secures 30 Million Swiss Franc Investment
François-Henri Bennahmias, the former CEO of Audemars Piguet, has secured 30 million Swiss francs in funding for a new luxury watch brand called N3W5. The brand, pronounced "news" and named after the cardinal points, will offer mechanical watches starting at 20,000 Swiss francs when sales begin in 2028.
The Vision Behind N3W5
Bennahmias, who formed The Honourable Merchants Group to develop the brand, emphasized his intention to redistribute value within the watchmaking ecosystem. "I want to reward everyone involved in the entire ecosystem of value creation," he stated, indicating plans to give designers and watchmakers greater credit and profit sharing than industry norms.
The first collection will feature round cases, followed by a cushion-shaped second line. Both collections will be powered by new movements, with one protected by multiple patents.
Failed Acquisition Attempts
Before launching N3W5, Bennahmias attempted to acquire De Bethune, a high-end independent Swiss watchmaker currently owned by The 1916 Company. "For several reasons it did not happen," Bennahmias told The Business of Fashion. Talks with two other independent Swiss companies also fell through.
Production Strategy
N3W5 will initially rely on a network of high-end third-party Swiss suppliers for production. Within 10 years, Bennahmias aims to produce 10,000 watches annually, including pieces featuring enamel work by renowned artisan Anita Porchet.
Industry Context
The launch comes as the Swiss watchmaking industry struggles to recover from a slump caused by geopolitical tensions and weak demand in China. However, industry observers note that new entrants like N3W5 could inject fresh energy into the market, particularly at the independent luxury segment.
According to industry analyst Ming Liu, "The tariffs and the uncertainty from a year ago haven't resolved, and the Middle East situation has added new challenges. But innovation and new brands keep the market dynamic."
Launch Timeline
- 2026: Brand announcement and investor funding secured
- 2027: First collection preview at Dubai Watch Week
- 2028: Commercial sales begin
FAQ
Who is François-Henri Bennahmias?
Bennahmias is the former CEO of Audemars Piguet, one of Switzerland's most prestigious luxury watch manufacturers. He formed The Honourable Merchants Group to develop N3W5.
What price range will N3W5 watches occupy?
N3W5 mechanical watches will start at 20,000 Swiss francs (approximately $25,000), positioning them in the premium luxury segment.
When will N3W5 watches be available?
The first collection will be previewed at Dubai Watch Week in 2027, with commercial sales beginning in 2028.