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

Apart from the Cubitus, which made loads of headlines within the watch business earlier this 12 months, Patek Philippe is a kind of manufacturers that silently marches on, creating extremely stunning and equally intricate watches 12 months after 12 months. Sitting close to the highest of this horology meals chain, the model is undoubtedly an necessary participant inside the business.

What number of instances have we seen Patek Philippe watches smash worth data 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 taking part in its personal sport, untethered from developments and what everybody else appears to be doing.

I feel it might proceed on this trajectory, unhindered and unfazed, as a result of it is likely one of the final firms of this measurement and magnitude inside the watchmaking business to be family-owned. The course is about firmly by the person on the helm, and that man, the present president of Patek Philippe, is Thierry Stern.

So, when provided a uncommon probability to have a dialog with Stern, that isn’t a possibility many would go up. There was so much to speak about with Stern, a person who reportedly has listened to each minute repeater to return out of Patek Philippe below 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 in regards to the Cubitus on the finish.

This 12 months, there are 15 references launched at Watches & Wonders Geneva. As at all times, there isn’t a selected emphasis on one assortment or one other. As a substitute, there are simply novelties from throughout all of the collections. Is that this the technique? To disregard the noise and simply concentrate on making higher watches yearly?

I don’t know if we’re making higher watches yearly… however that’s completely appropriate. It’s actually to boost up your entire household of watches as a substitute of simply specializing in one assortment. Simply specializing in one assortment might be fairly harmful, like with Audemars Piguet and the Royal Oak. It’s a very good watch, however possibly 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’ve got to boost up the Nautilus, however on the similar time, we even have to enhance the Ellipse, the Calatrava, the sophisticated watch, the grand complication, and that may be a huge a part of our technique. And it is usually very enjoyable. I like it! You get to work on a easy Calatrava and on the similar time, an enormous minute repeater, and that’s the energy of Patek Philippe.

We won’t change the technique. Generally we’ve got to launch a brand new household just like the Cubitus, however whilst 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 doable when it comes to watches.

I’d think about it provides you a number of inventive outputs by working this fashion?

Numerous prototypes and it’s not simple. However, over time, you turn out to be higher and higher at this. There is no such thing as 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 worth data at public sale each time it reveals up. I’m wondering how you are feeling about all this, as you make new timepieces?

I can solely be proud about that as a result of it reveals 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 immediately, I’ve to do not forget that. And because of this I’m a really cool individual usually, however in the case of the design, to the motion of the watches, I might be very powerful. 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 immediately, I feel that is actually what folks anticipate not solely from me however from Patek.

The watches we’re making immediately, possibly in 20 to 50 years from now, could turn out to be the so-called sizzling 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 searching for items for the museum, or have you ever collected all of them?

Oh yeah, on a regular basis, however after all now, we’ve got, I’d say, 95 per cent of the items that we’re searching for. So, it’s a little lower than earlier than. And they aren’t simple to seek out these days. A few of them are lengthy gone, as a result of possibly there was only one or possibly two items ever made. They’re, I don’t know, possibly 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 technology could discover them and say, I’m not keen about watches, I’m going to promote it and that’s once we will purchase it. So sure, we’re at all times searching for these items. The final one which I purchased was not even a month in the past; it was a stunning little minute repeater pocket watch. A tiny one. I actually couldn’t imagine it; we’ve got one like this within the museum, however it was just a little greater. And this one got here, apparently, from the after-sales service, which is typically the place we discover the items we want for the museum.

The individual in cost has the duty to warn me when one thing actually stunning is coming. He’ll say, Mr Stern, we’ve got an incredible 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 preserve it. However not less than I do know the place the piece is.

Trying in direction of the long run, it’s reported that you have already got actions deliberate till 2039. From immediately till then, will there be something launched as contentious because the Cubitus?

You actually assume I’ll reply this? Good strive, however I can’t discuss it. What’s attention-grabbing, and what I like about Patek, is that inside the firm, there are possibly 20 or 30 individuals who learn about all these plans. And nearer to launch, say, six months earlier than the Geneva present, possibly 1,000 folks already learn about it, however nobody is speaking about it. That additionally reveals the respect for the model from our personal folks. The key is one thing necessary for us. As a result of if you come again subsequent 12 months, or in 10 years, additionally, you will benefit from the shock if you see the newest watches. It is rather like Christmas, you don’t need 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 a number of Patek Philippe collectors and fanatics perceive that.

Sure, they perceive that, and it’s much more apparent when prospects come for a go to. We’ve got a number of guests on the manufacture; the retailer has the appropriate to ask possibly 10 to 12 folks to go to the manufacturing unit. I can at all times see the spirit and the pleasure of every consumer. And once we discuss 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 crew; it’s one thing that’s apparent, and that’s very nice.

You had been talking earlier in regards to 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 a number of manufacturers doing it. But it surely’s not simple since you want a number of watchmakers, and for me, it’s simply inconceivable to do immediately. I’m a watchmaker who produces new watches, and naturally, I’ll service all these watches (that we’ll promote or have offered). An excellent after-sales service is likely 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 little thing, so I have already got a number of work to do.

Usually it is extremely good as a result of anyone will come and say “Pay attention, I’ve a watch, she is 100 years outdated, and I do know you can not repair it, however are you able to simply polish it?” And we are going to say why can’t we repair it? In fact we are able to. And they’re more than happy with that. Actually, I feel we’re the one model to nonetheless do that. Many of the manufacturers won’t repair the watch anymore whether it is older than 30 years.

They are going to say, “Sorry, you need to purchase a brand new one.” I perceive this as a result of fixing outdated watches is troublesome, and it takes time. And it’s a non-profitable enterprise. That is additionally the selection that we made. We aren’t able to earn a living out of the after-sales service. It’s a part of our DNA, our worth.

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 find yourself spending this amount of cash on a watch, you do anticipate that there shall be somebody who can repair it.

That is the hazard I see concerning some watchmakers which are unbiased. They’re making wonderful, sophisticated watches. And I say OK, wonderful, 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 significantly contemplate.

Okay, only one final query earlier than we wrap up. I do know there have been a number of questions requested in regards to the Cubitus already, however I simply have another. In the course of the growth phases, was there ever a consideration to make a sq. motion to suit inside the cubitus?

For the reason that starting, I stated no. As a result of I didn’t need to be trapped with just one motion for the Cubitus. I would like 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 need a new complication, financially, neglect it! It’s inconceivable. 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 positive. And the reply is sure, it was my option to preserve 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’ve got 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 Situation

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