Patek Philippe, an independent watchmaker with the principle of business autonomy, sets out and strictly adheres to the art of high-end craftsmanship.
Patek Philippe is Switzerland’s oldest independent manufacturer, owned and operated by family members. The brand was born in 1839 and was acquired by the Stern family in 1932. Four generations of the family run the company and have resisted all attempts at mergers and acquisitions from individuals and financial corporations to move forward. oriented towards haute horlogerie (The art of high-end watchmaking).
This business model stands apart from the flow of manipulation and upholds the brand’s vision expressed in the aphorism: “You don’t really own a Patek Philippe, you just preserve it for future generations.”
Brand positioning puts quality first
The Swiss watch industry is always fiercely competitive, with more than 600 different large and small brands. The Stern family has kept Patek Philippe at the forefront of the ultra-luxury segment, established by the exquisite craftsmanship of each product, distributed through strictly selected channels globally.
Since the mid-nineteenth century, the Stern family has considered independent operation as a driving force for development and continuous pursuit of perfection. Holding all the resources to make watches, the family is not under pressure at any stage, from ideation and design to development, production and bringing to market. All standards follow the quality criteria set by Patek Philippe itself. This Swiss manufacturer controls the number of products shipped annually, to ensure the value of the brand instead of increasing output to increase revenue in the short term.
Directly manage the entire system
The Stern family is involved in the business at every stage of its operations. Sandrine Stern – Thierry Stern’s wife has worked at Patek Philippe since 1996, currently running the Creative department. Christine Stern’s older sister works at the Geneva branch. Thierry Stern is also a watch expert, and is involved in the development and design of Patek Philippe products. Inherited from his father – Mr. Philippe Stern, Thierry Stern approves each repeater watch produced from the workshop in Plan-les-Ouates.
Thierry Stern shares: “You can lead if you really understand how the work works. You have to really immerse yourself in it, instead of just looking and imagining.”
Sustainable long-term vision
Existing independently allows Patek Philippe to pursue a long-term vision and not be bound by short-term profits. Patek Philippe’s workshop can take time to create a perfect part, free from commercial pressures and market-driven inventions. Patek Philippe reserves the right to delay or cancel the launch of a product that is not completely satisfied.
Patek Philippe has absolute freedom to unleash its creativity and lay the foundation for classic designs. The company creates its own standards with the Patek Philippe Seal quality standards. This brand has mastered the game right from the time each watch was still in the mine.