Jasmine Audemars took the chair in 1992 and kept AP in family hands

Audemars Piguet was founded in 1875 in the Vallée de Joux and remained one of the few watchmakers still owned by its founding families. In 1992 Jasmine Audemars, great-granddaughter of co-founder Jules-Louis Audemars, took over as chair of the board from her father.

Jasmine had been editor-in-chief of the Journal de Genève before the handover, which came in the middle of the mechanical watch revival. She described herself as a 'keeper of the temple', upholding family values while the firm pushed bold bets like the Royal Oak Offshore and partnerships from Alinghi to Art Basel.

The family's long-term view paid off. Worldtempus wrote that under her leadership the firm made 'unprecedented progress' despite 'its share of troubles and setbacks'. By 2021 Audemars Piguet's sales reached 1.58 billion francs ($1.7 billion), overtaking rival Patek Philippe for the first time.

Audemars Piguet stayed in founding-family hands and grew: 2021 sales reached 1.58 billion francs ($1.7 billion), overtaking Patek Philippe's 1.53 billion.

Keeping the company in founding-family hands preserved its long-term strategy.

The family backed product and partnership bets instead of maximizing short-term profit.

Staying independent let AP outgrow rivals like Patek by 2021.

Long-term family ownership can beat short-term pressure: keeping control let AP build the brand over decades instead of chasing quarterly results.

Jasmine Audemars chaired the board until 2022, with cousin Olivier Audemars as vice-chairman. Audemars Piguet remained family-owned and independent, one of the three biggest independent Swiss watch brands alongside Patek and Rolex.