Inside Patek Philippe: A Dialog with President Thierry Stern on Main a Household-Owned Legacy

Excluding the Cubitus, which made loads of headlines within the watch trade earlier this yr, Patek Philippe is a type of manufacturers that silently marches on, creating extremely lovely and equally intricate watches yr after yr. Sitting close to the highest of this horology meals chain, the model is undoubtedly an vital participant throughout the trade.

What number of occasions have we seen Patek Philippe watches smash value information at public sale? What number of complication firsts have we seen popping out of the model and its accompanying patents? And but, it does so with such nonchalance that it appears to suggest that the Geneva stalwart is enjoying its personal recreation, untethered from traits and what everybody else appears to be doing.

I feel it could possibly proceed on this trajectory, unhindered and unfazed, as a result of it is without doubt one of the final corporations of this dimension and magnitude throughout the watchmaking trade to be family-owned. The path is ready firmly by the person on the helm, and that man, the present president of Patek Philippe, is Thierry Stern.

So, when supplied a uncommon likelihood to have a dialog with Stern, that isn’t a chance many would move up. There was so much to speak about with Stern, a person who reportedly has listened to each minute repeater to come back out of Patek Philippe beneath his stewardship. However with solely a 20-minute window to ask all burning questions, I made a decision to go along with a little bit of a extra unorthodox line of questioning. Don’t fear, I nonetheless managed to throw in a query concerning the Cubitus on the finish.

This yr, there are 15 references launched at Watches & Wonders Geneva. As all the time, there isn’t a selected emphasis on one assortment or one other. As an alternative, there are simply novelties from throughout all of the collections. Is that this the technique? To disregard the noise and simply give attention to making higher watches yearly?

I don’t know if we’re making higher watches yearly… however that’s completely appropriate. It’s actually to lift up your complete household of watches as a substitute of simply specializing in one assortment. Simply specializing in one assortment will be fairly harmful, like with Audemars Piguet and the Royal Oak. It’s a very good watch, however perhaps sometime, folks will say I’ve sufficient, they usually don’t have anything.

So, for Patek Philippe, because of this we determined a few years in the past that no, we now have to lift up the Nautilus, however on the similar time, we even have to enhance the Ellipse, the Calatrava, the difficult watch, the grand complication, and that may be a massive a part of our technique. And additionally it is very enjoyable. I find it irresistible! You get to work on a easy Calatrava and on the similar time, a giant minute repeater, and that’s the energy of Patek Philippe.

We is not going to change the technique. Generally we now have to launch a brand new household just like the Cubitus, however at the same time as we launched the Cubitus, we had been additionally engaged on many new fashions from different collections. And that’s what, I feel, folks anticipate from us. Everyone seems to be totally different, totally different tastes, totally different quantities of cash to spend on watches. And Patek Philippe has to have the ability to provide as a lot selection as potential by way of watches.

I’d think about it offers you quite a lot of inventive outputs by working this fashion?

Lots of prototypes and it isn’t straightforward. However, over time, you grow to be higher and higher at this. There isn’t a miracle. It’s nearly studying over time.

Patek Philippe watches are clearly very extremely fascinating within the public sale world. For instance, Ref. 1518 in metal is consistently breaking value information at public sale each time it exhibits up. I’m wondering how you’re feeling about all this, as you’re making new timepieces?

I can solely be proud about that as a result of it exhibits that the respect, data and attractiveness for Patek Philippe continues to be there! However I additionally take this as an enormous duty for me. When I’m designing these items at this time, I’ve to do not forget that. And because of this I’m a really cool particular person typically, however with regards to the design, to the motion of the watches, I will be very robust. As a result of I must respect all these classic items from the previous, all of the DNA that was a part of it and at this time, I feel that is actually what folks anticipate not solely from me however from Patek.

The watches we’re making at this time, perhaps in 20 to 50 years from now, might grow to be the so-called scorching cookies of tomorrow. And for me, that is actually nice, much more so when you have a museum!

I used to be questioning about this as properly. Patek Philippe has been round for a very long time. Are you continue to actively in search of items for the museum, or have you ever collected all of them?

Oh yeah, on a regular basis, however after all now, we now have, I’d say, 95 per cent of the items that we’re in search of. So, it’s a little lower than earlier than. And they don’t seem to be straightforward to search out these days. A few of them are lengthy gone, as a result of perhaps there was only one or perhaps two items ever made. They’re, I don’t know, perhaps within the sea someplace or destroyed in a hearth. And a few of them are in a protected, and other people have no idea it.

That is the wonder. You simply have to attend, and sooner or later, the brand new era might discover them and say, I’m not captivated with watches, I’m going to promote it and that’s once we will purchase it. So sure, we’re all the time in search of these items. The final one which I purchased was not even a month in the past; it was a beautiful little minute repeater pocket watch. A tiny one. I actually couldn’t imagine it; we now have one like this within the museum, but it surely was slightly larger. And this one got here, curiously, from the after-sales service, which is typically the place we discover the items we’d like for the museum.

The particular person in cost has the duty to warn me when one thing actually lovely is coming. He’ll say, Mr Stern, we now have a tremendous piece coming for after-sales service, would you prefer to see it, and I say sure. So, I have a look at the piece and I contact the proprietor. I say: Are you keen to promote it? As a result of we don’t have it, and we’d be happy to have it within the museum. Generally the proprietor will say: No, I want to maintain it. However at the very least I do know the place the piece is.

Wanting in direction of the longer term, it’s reported that you have already got actions deliberate till 2039. From at this time till then, will there be something launched as contentious because the Cubitus?

You actually suppose I’ll reply this? Good attempt, however I cannot discuss it. What’s fascinating, and what I like about Patek, is that throughout the firm, there are perhaps 20 or 30 individuals who learn about all these plans. And nearer to launch, say, six months earlier than the Geneva present, perhaps 1,000 folks already learn about it, however nobody is speaking about it. That additionally exhibits the respect for the model from our personal folks. The key is one thing vital for us. As a result of whenever you come again subsequent yr, or in 10 years, additionally, you will benefit from the shock whenever you see the newest watches. It is rather like Christmas, you don’t wish to know what your current is earlier than you open it.

I feel this type of respect can’t be purchased; it needs to be cultivated over time, and I feel quite a lot of Patek Philippe collectors and fanatics perceive that.

Sure, they perceive that, and it’s much more apparent when clients come for a go to. We now have quite a lot of guests on the manufacture; the retailer has the precise to ask perhaps 10 to 12 folks to go to the manufacturing unit. I can all the time see the spirit and the pleasure of every shopper. And once we speak with them, more often than not I attempt to have lunch with them, that’s precisely what they are saying. They are saying I can see the respect and pleasure of the group; it’s one thing that’s apparent, and that’s very nice.

You had been talking earlier concerning the after-sales service. I used to be simply questioning when you have any ideas on the pre-owned market?

No, as a result of I don’t have time and I’m very centered on the brand new watches. There are literally quite a lot of manufacturers doing it. However it’s not straightforward since you want quite a lot of watchmakers, and for me, it’s simply unimaginable to do at this time. I’m a watchmaker who produces new watches, and naturally, I’ll service all these watches (that we are going to promote or have bought). An excellent after-sales service is without doubt one of the keys to success. That is very true for Patek Philippe as a result of we repair all watches made, even from when the model was established. We are going to repair every thing, so I have already got quite a lot of work to do.

Usually it is vitally good as a result of any individual will come and say “Hear, I’ve a watch, she is 100 years previous, and I do know you can not repair it, however are you able to simply polish it?” And we’ll say why can’t we repair it? In fact we are able to. And they’re very happy with that. Actually, I feel we’re the one model to nonetheless do that. A lot of the manufacturers is not going to repair the watch anymore whether it is older than 30 years.

They’ll say, “Sorry, you need to purchase a brand new one.” I perceive this as a result of fixing previous watches is tough, and it takes time. And it’s a non-profitable enterprise. That is additionally the selection that we made. We’re not able to become profitable out of the after-sales service. It’s a part of our DNA, our price.

That’s why I put in the Patek Philippe seal. With this Patek Philippe seal, we’re speaking not solely about the entire watch, but in addition the after-sales service, as a result of if you end up spending this sum of money on a watch, you do anticipate that there will likely be somebody who can repair it.

That is the hazard I see concerning some watchmakers which are impartial. They’re making wonderful, difficult watches. And I say OK, high quality, however the man is alone, and when this man is gone, who’s going to have the ability to restore your watch? Good luck. And these are costly watches. It’s one thing that the patrons want to noticeably think about.

Okay, only one final query earlier than we wrap up. I do know there have been quite a lot of questions requested concerning the Cubitus already, however I simply have yet another. In the course of the growth levels, was there ever a consideration to make a sq. motion to suit throughout the cubitus?

Because the starting, I stated no. As a result of I didn’t wish to be trapped with just one motion for the Cubitus. I want for this line to have the ability to have a easy computerized motion, but in addition a chronograph, or a perpetual calendar sooner or later.

So, it’s about longevity for the gathering?

Sure, in order that’s why I made a decision to not do a sq. motion, as a result of to redevelop the sq. motion each time I desire a new complication, financially, neglect it! It’s unimaginable. In order that’s why I selected to maintain it spherical. It permits me to do no matter I like, with all of the actions I’ve within the assortment. The query is an efficient query, for certain. And the reply is sure, it was my option to maintain it as a spherical motion, and you need to settle for that. That is additionally why, sooner or later, some folks at Patek additionally requested me if we should always have the sapphire caseback or not, as a result of the motion is spherical. And I say sure, we now have to just accept that, and we made a sapphire caseback. I’m not going to cover the truth that the motion is spherical.

This story was first seen as a part of the WOW #81 Autumn 2025 Subject

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