The account was won after a competitive pitch with undisclosed agencies and is valid for a period of two years. OMD said the luxury watchmaker invited it to pitch. The scope of work includes strategic media buying and planning across media platforms.
Although Audemars Piguet has a retail presence in both markets, it is the first time it has appointed an agency. Prior to OMD, media planning and buying was done in-house. It is believed to be its first appointment in Asia. The agency declined to comment on the value of Audemars Piguet’s billings.
“Singapore is a luxury shoppers paradise and a huge market for fine watches,” said Stefanie Ng, marketing manager of Audemars Piguet. “Audemars Piguet is set to increase its presence in key markets like Singapore and Malaysia by leveraging its rich tradition of history and heritage.”
Market research firm Euromonitor predicted the watch sector in Singapore would see value growth of 11 per cent in 2012. It attributed this growth to the rising availability of international brands and influx of tourists. At present, Casio leads market share in the region.
OMD, for its part, is keen to create strategic partnerships for Audemars Piguet with its existing clientele including BMW and Standard Chartered Bank. “The big opportunity is to build strategic alliances,” said Chloe Neo, OMD Singapore’s joint managing partner.
The Audemars Piguet win is effective immediately.
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