Some people retire after running one of the world’s greatest watch brands. They buy a vineyard, play golf, or spend their weekends explaining to friends why they should have invested in mechanical watches twenty years ago. François-Henri Bennahmias has chosen a rather different route. After spending more than a decade reshaping Audemars Piguet into one of Swiss watchmaking’s most influential maisons, he is starting again from scratch. His new venture, N3W5, pronounced “News”, isn’t another celebrity backed watch label chasing quick headlines. It is a fully fledged independent manufacture backed by serious investment, respected artisans and one very ambitious idea: build a luxury watch brand that openly celebrates everyone involved in creating its watches instead of hiding them behind the dial.
A New Name With A Different Philosophy
The name N3W5 represents the four cardinal directions: North, East, West and South, reflecting a philosophy built around exploration and openness. Operating under Bennahmias’ newly established The Honorable Merchants Group, the brand has secured CHF 30 million in private funding, giving it the financial backing needed to compete in one of luxury’s most demanding industries. Its official unveiling is scheduled for Dubai Watch Week 2027, with commercial deliveries beginning in 2028. Rather than entering the market cautiously, Bennahmias intends to establish N3W5 as a genuine player within independent haute horlogerie from day one.
Luxury Watches Built For Serious Collectors
N3W5 is entering the market exactly where experienced collectors are already looking. Prices will begin at around CHF 20,000, with more complicated references reaching approximately CHF 60,000. Production will remain deliberately limited, with only several thousand watches planned annually. The first collection will feature elegant round cases housing entirely proprietary mechanical calibres, reinforcing the brand’s commitment to genuine watchmaking rather than outsourced solutions. A second collection, scheduled for 2028, will introduce cushion shaped cases, expanding the design language while maintaining the same mechanical philosophy.
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A Brand That Gives Credit Where It Is Due
Perhaps the most refreshing aspect of N3W5 has nothing to do with movements or case design. It is honesty. For decades, many luxury watch brands have quietly relied on specialist suppliers while allowing customers to believe every component was produced entirely in house. Bennahmias intends to change that. N3W5 will openly acknowledge the craftsmen, suppliers and specialists responsible for bringing each watch to life. Among the first collaborators is legendary enameller Anita Porchet, one of the most respected decorative artists in modern watchmaking. Her work has appeared on exceptional creations for maisons including Patek Philippe and Hermès, making her involvement an immediate statement of intent. Rather than treating suppliers as invisible partners, N3W5 plans to place craftsmanship itself at the centre of its identity.
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The Man Behind The Vision
Long before he became one of watchmaking’s most recognisable executives, François-Henri Bennahmias was chasing an entirely different dream. Born in Paris in 1964, he competed professionally on the French golf circuit during the 1980s, reaching number 25 nationally before moving into fashion. His early career saw him work with names such as Giorgio Armani, Gianfranco Ferré, Reporter, Peter Hadley, Les Copains and Vilebrequin before joining Audemars Piguet in France in 1994. What followed was one of modern watchmaking’s most remarkable executive careers. Bennahmias rapidly rose through international leadership roles across Asia, Europe and North America before becoming President and CEO of Audemars Piguet North America in 1999. In 2013, he officially assumed the role of global Chief Executive Officer, leading the company through one of its most transformative periods.
The Executive Who Changed Audemars Piguet
During Bennahmias’ tenure, Audemars Piguet shifted from a wholesale driven business towards a far more direct relationship with collectors. He introduced the now famous AP House concept, replacing traditional boutiques with elegant residential style spaces that fundamentally changed how luxury watches were sold. His leadership also oversaw the creation of the spectacular Musée Atelier Audemars Piguet and the adjacent Hôtel des Horlogers, while launching one of the company’s boldest collections in decades with Code 11.59 in 2019.
Never afraid of challenging convention, Bennahmias also pushed Audemars Piguet into unexpected territory through collaborations with Marvel, beginning with the highly publicised Black Panther Royal Oak Concept in 2021, proving that traditional Swiss watchmaking could still surprise an entirely new generation of collectors.
A New Chapter For Independent Watchmaking
Since founding The Honorable Merchants Group in September 2025, Bennahmias has made it clear that N3W5 is not designed to replicate the past. Instead, it aims to combine Swiss mechanical excellence with greater transparency, stronger collaboration and a fresh approach to luxury entrepreneurship. Between proprietary movements, respected artisan partners and meaningful investment, the ingredients are certainly in place. Whether N3W5 ultimately becomes the next great independent manufacture remains to be seen. But if there’s one lesson from François-Henri Bennahmias’ career, it is this: when he decides to challenge convention, the watch industry usually pays attention.
