Dein erstes Forum » Patek Philippe Nautilus 4700/1 Gold

Thierry Stern has no plans to sell Patek Philippe and will launch first new collection since 1999 When you have the most popular watch in the world, it takes a huge watch to kill it. While some would call this madness, Patek Philippe CEO Thierry Stern, who chose to discontinue production of the coveted 5711 Nautilus steel watch, might view it as discipline. This is a thoughtful effort that respects the trust and loyalty of our customers, as well as the integrity of the brand and what it stands for. So it's no surprise that despite rumors that Stern might sell Patek Philippe to a conglomerate, he recently revealed to Bloomberg that he has no plans to sell. In fact, not only does he have no plans to sell. He also revealed to Bloomberg that a succession plan is in place and, for the first time since 1999, a new series/model range is about to debut.

As Andy Hoffman and Chris Rovzar point out in a Bloomberg article, Patek Philippe would have a long list of suitors waiting to acquire it if it were on the market. The manufacturer took it from the Stern family. However, you'll have to keep an eye on the recently discontinued Nautilus for further insights. It is clear that Thierry Stern’s first priority, although not entirely without financial motivation, was to maintain the incredibly high standards of the Patek Philippe name and brand. A huge incentive to buy a Patek Philippe is of course its renowned craftsmanship, but also knowing that the value of a Patek Philippe will never waver. If the Sterns were concerned about cashing out, they could simply lower the build quality, increase Nautilus production, and ride the wave. However, that's exactly why Stern has no plans to sell.

Stern explained to Bloomberg: "If I sold Patek Philippe to a group, I would definitely be a winner. I could sell it for billions. But I would kill Patek Philippe in less than five years. You can be sure that you The Nautilus will only be seen because that’s what the team will do.”

There was nothing wrong with him being there. It would be naive to say that the appeal of owning a Nautilus has nothing to do with its scarcity and the premium it generates on the secondary market. Moreover, it is undeniable that Patek Philippe has never been committed to becoming the most popular sports watch brand, but the birthplace of the finest watchmaking craftsmanship and the most complex complications.

If Theory doesn't sell the brand after his retirement, who will manage it? Bloomberg's Hoffman and Lovzal explain: "Stern said his two sons, now 20 and 21, have both decided to join the family business and will start learning all aspects of the business next year. Stern said it could take up to a decade before they are ready to start taking on major decision-making responsibilities. Meanwhile, longtime Patek Philippe executive Laurent Bernasconi After nearly two decades with the company, he will take over the role of General Manager of Patek Philippe as part of its succession planning process. This transition has been in the works for some time and was announced to employees within Patek Philippe in 2021."

While it's unclear which way the design will skew - sporty, elegant, sophisticated or entry-level - what's clear is that a new range is coming - and it's the latest since the Twenty-4 launched in 2017 The first new series since. In 1999, Stern even revealed that the design was complete, the prototype was ready, and that he "really liked it." Bloomberg’s Hoffman and Rovzar explain: “Patek Philippe SA will soon launch its first new model series in nearly a quarter of a century, and the head of the family-owned Swiss watchmaker expects the new product to one day compete with its most popular models. The new model range is expected to be launched later this year, or next year once all the final elements are in place, President Thierry Stern said.