Published on July 1, 2026
Rich Fury/Getty Images for Audemars Piguet
François-Henri Bennahmias is starting fresh.
The former CEO that turned Audemars Piguet into a billion-dollar company just unveiled his new luxury Swiss watch brand on Tuesday. The venture is called N3W5 (pronounced “News”), in a nod to North, East, West, South, with a brand tagline stating that “We are our own compass”, per its Instagram.The new company, which will offer up mechanical watches to the tune of around $25,000 (20,000 Swiss francs) will make its formal debut at next year’s Dubai Watch Week, Business of Fashion reported. The first collection will include a round case, followed by a cushion-shaped case in the second collection that are both powered by new calibers. The timepieces will be put up for sale in 2028, and Bennahmias hopes to have made 10,000 watches in 10 years—with prices going up to 60,000 Swiss francs, or around $74,000.N3W5, though Swiss made, will be the product of a collective of talents from across the globe, N3W5 says in its first promotional video, highlighting those involved “before, during, and after the product.” One such person is Anita Porchet, a famed enamelist who has worked with the likes of Patek Philippe and Hermès.“I want to reward everyone involved in the entire ecosystem of value creation,” Bennahmias told BoF.The businessman had spent 25 years in total at AP, starting his career with the Swiss watchmaker in 1994. From there, he worked his way up to CEO, a position he held from 2013 to 2023. And Bennahmias had a strong impact on the company, leading the brand to notch over $1.6 billion in revenue in 2021, increasing production of its timepieces (like the ever-coveted Royal Oak), and working with A-listers like LeBron James and Serena Williams. He announced his departure from Audemars Piguet on June 22, 2022, and was succeeded by former president of Firmenich Ilaria Resta.Before embarking on this new endeavor, Bennahmias had attempted to purchase De Bethune as well as two other indie watch brands, according to Business of Fashion. Now, with around $37 million ($30 million Swiss francs) in funding from a group of private investors, he is getting the chance to build his own company, part of his group the Honourable Merchants, from the ground up.
