Patek Philippe's President, Thierry Stern, recently shared profound insights into the brand's enduring philosophy during an interview at the Milan Watch Art Grand Exhibition. This seventh and largest exhibition to date showcased an impressive array of new and historic timepieces, drawing over 45,000 registered visitors. Stern highlighted the company's unwavering dedication to product longevity, the preservation of traditional craftsmanship, and a forward-thinking approach to innovation, all while adapting to evolving market demands and fostering the next generation of watchmaking talent. His remarks underscore Patek Philippe's commitment to both its rich legacy and a dynamic future.
During the Milan Watch Art Grand Exhibition, Thierry Stern engaged with journalists to discuss key aspects of Patek Philippe's operations and strategic vision. One central theme was the brand's unparalleled commitment to watch restoration. Stern revealed that a fundamental aspect of developing new movements and cases involves considering their restorability a century into the future. This principle, which dictates material selection and engineering rules, ensures that Patek Philippe timepieces remain serviceable for generations, distinguishing the brand from others that might prioritize transient trends like ceramic, which cannot be repaired if broken.
Stern also spoke passionately about the importance of rare handcrafts within watchmaking. While hesitant to pick a single favorite from the extensive exhibition, he expressed particular admiration for a new perpetual calendar chronograph, citing its innovative movement design. He also highlighted the Dante Pocket Watch, created for the Italian market, as an extraordinary example of enameling artistry, a craft the company actively preserves and promotes. This dedication extends to ensuring the continuity of these skills by training younger artisans, challenging the past tendency of masters to guard their techniques.
Regarding Patek Philippe's historical legacy, Stern emphasized the multitude of patents the brand has introduced since 1839, viewing this continuous innovation as its most significant historical contribution. To modernize the presentation of this heritage, a new head of the museum, with a commercial marketing background, has been appointed. Their mission is to convey the brand's history, ideas, and patents in a fresh and engaging manner, moving beyond a purely archival approach to make the museum a dynamic educational hub.
The discussion also touched on the criteria for integrating Grand Exhibition pieces into the permanent collection. Stern explained that while many pieces start as limited editions, their exceptional quality often leads to their inclusion in the main catalog, driven by a long-term vision for the brand's product range. He cited the Perpetual Calendar Chronograph, launched exclusively for the Italian market due to its mature appreciation for fine watchmaking, as an example of a significant investment that will eventually see variations enter the global collection. The choice of Milan as the exhibition venue was also deliberate, providing the necessary expansive space to showcase the brand's vast collection and archives, despite construction-related delays.
Reflecting on leadership, Stern shared his perspective on legacy, viewing it as a heavy responsibility to build upon his father's achievements without compromising established values. He believes in respect, tradition, and fostering a strong team. Looking ahead a century, he hopes future watchmakers will recognize the exceptional mechanical integrity and serviceability of Patek Philippe watches. He compared it to a vintage car that might look impressive but is a nightmare to repair internally, emphasizing the importance of underlying quality.
Stern observed shifts in the Patek Philippe client base, noting the addition of new profiles, including wealthy newcomers drawn to status and aesthetics, and young enthusiasts who begin with vintage pieces before investing in modern references. He humorously recalled the initial launch of the Aquanaut, intended for a younger demographic, which was eagerly acquired by existing loyal collectors instead. Furthermore, Stern discussed the evolving approach to women's timepieces, acknowledging the increasing prominence of female collectors. He emphasized that 75% of Patek Philippe's women's collection features mechanical movements, and technological advancements now allow for smaller, complex calibers. The brand also designs watches that cater to women's evolving aesthetic preferences for bolder designs and vibrant colors, recognizing their sophisticated understanding of horology.
Stern expressed confidence in the preservation of human handcrafts, such as enameling and marquetry, due to active investment in the rare handcrafts department and a culture of intergenerational knowledge transfer. He stressed the importance of older master artisans teaching younger trainees, ensuring the continuity of these intricate skills. Strategically, Patek Philippe plans technical innovations through 2039, its 200th anniversary, with a clear, long-term vision guiding product development and market decisions, like the bold move to discontinue the Nautilus 5711. This consistent strategy aims to instill confidence in the entire team.
Ultimately, the Grand Exhibition serves an educational purpose: to foster appreciation for fine mechanical watchmaking. Stern hopes visitors leave with a deeper understanding of the meticulous human skill and time involved in crafting a watch, even if they don't make a purchase. This public education elevates the entire industry. His advice for his son, should he take over the company, includes listening to anonymous feedback at exhibitions and engaging directly with retailers globally to understand diverse market needs and cultural preferences, emphasizing the importance of genuine connection and insight.
