Former Audemars Piguet Chief Executive François-Henri Bennahmias unveiled details of a new watch brand called N3W5 that will launch in late 2027 and draw on some significant names from the Swiss industry for the design, production, and craftsmanship.
Called ‘N3W5’ – an acronym for ‘North, East, West, South’ and pronounced ‘NEWS,’ the new marque will launch at Dubai Watch Week next year, the Honourable Merchants Group, the Bennahmias-led luxury brand constellation, said in a statement. Watch prices for the first models will start at about CHF 20,000, and production will commence at ‘several thousand pieces’ in the first year. A second collection will debut in 2028, according to the company’s plans.
François-Henri Bennahmias at an event in Crissier, Switzerland, introducing The Honourable Merchants Group.
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 Bennahmias were in late-stage talks to invest in or buy control of Swiss independent brand De Bethune, according to people familiar with the matter. But the Swiss brand, founded by French watchmaker Denis Flageollet and controlled by U.S.-based vintage and primary retailer The 1916 Company, did not reach a deal with Bennahmias and THMG. De Bethune recently confirmed that former TAG Heuer CEO Antoine Pin was taking over as Chief Executive Officer of the independent brand as it approaches its 25th anniversary.
Antoine Pin (left) joins De Bethune and founder Denis Flageollet (right) as the independent brand’s Chief Executive Officer. The veteran executive previously led TAG Heuer, Bulgari’s watch division, and worked at a host of other brands.
The statement regarding the launch of N3W5 included the names of several well-known designers, craftspeople, artists, and companies involved in the watch brand project.
Xavier Calas is among the designers working with Bennahmias’ N3W5 brand. Image courtesy THMG.
Among them are enameler Anita Porchet, guillocheur Yann von Kaenel, and designers including Sebastien Perret, Xavier Casals, and Dalibor Klas, who is listed as lead designer at AP on his LinkedIn page. Swiss components supplier Biwi and dial makers Metalem and LM Cadran were also cited as suppliers and partners of the brand.
N3W5 and THMG say the watch brand is inspired by Antoine de Saint-Exupéry’s observation that “what is essential is invisible to the eye” and will celebrate collaboration and collective vision with watchmaking talents and manufacturing partners spanning different disciplines.
“In an industry increasingly defined by logos and trends, we want to focus on the essential, which is often overlooked: the silent expertise, the creative decisions and the people whose contributions shape exceptional objects,” Bennahmias, the long-time AP executive, said in a statement.
“Without them, the industry would not be what it is today, and it is about time they get the credit that they deserve,” he added.
Sebastien Perret, another designer, is also working with the new brand. Image courtesy THMG
The brand will introduce two collections powered by two new dedicated calibers, it said, adding that one of the new movements is protected by multiple patents. The company says Alpine Précision, Régence Production, and TimeForge are among its watch movement partners and suppliers.
The first collection will feature a round case, and the second, expected in 2028, will use a cushion case, N3W5 said.
THMG at its launch disclosed two companies it planned to back, including Avalon, a services company that will provide bespoke services to manage, secure, store, deliver, and leverage clients’ collections of art, jewelry, watches, wine, and other goods. One of the services it will provide is allowing clients to borrow money against the value of their collection, which will be secured by their assets physically held by Avalon.
Bennahmias also introduced a new electric-bike brand and company called Viiala that promises to bring new tech, design, and concepts to cycling and transportation.
