The news of N3W5 comes as pressure and speculation have mounted as to what Bennahmias, who led AP for more than a decade and oversaw a period of spectacular sales growth to more than CHF 2.3 billion for the family-owned brand, would do next in the watch world. At a flashy event near Lausanne last year, Bennahmias unveiled his vision for THMG, a new, multi-brand luxury brand group backed by private investors that promised a new philosophy of work, innovation, products, and sustainability in the luxury space. The charismatic executive said the new group would not be driven solely by profit and that at THMG, “we want to change the world of business. It is a mission,” Bennahmias said at the time.
There were plans for four distinct watch brands at that time, with details to be unveiled at Dubai Watch Week in 2025. But by November that year, no deals had been finalized. THMG and…
