Patek Philippe’s revelations at Watches and Wonders, from succession plans to a new line: president Thierry Stern says selling to LVMH or Richemont would ‘kill’ the independent Swiss luxury watchmaker
- Patek Philippe will introduce a new model line for the first time in nearly 25 years – following the ‘Twenty~4’ women’s collection in 1999 – that could compete with its popular Nautilus
- The brand won’t enter the secondhand market like Rolex and will release more ‘modestly’ priced watches besides million-dollar models, while Stern’s two sons will eventually join the business
President Thierry Stern said the new model line is expected to be unveiled later this year, or next year once all the final elements are in place.
A new offering from Patek would herald a significant event for the storied brand founded in 1839 and controlled by Stern and his family for generations. Patek last introduced a new model line in 1999 with its “Twenty~4” women’s collection.
“To create a new line of products – that’s really the challenge,” said Stern, 52, who in addition to his chairman duties, oversees the design of new watches at Patek.
Stern didn’t say whether the new line will consist of sports models like Patek’s most sought-after Nautilus – originally designed by Gerald Genta – or dress watches like the Ellipse or its Complications and Grand Complications lines.