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Baselworld 2019: Talking to Thierry Stern, President Patek Philippe
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- Опубліковано 21 бер 2019
- #PatekPhilippe This morning I had the pleasure to meet and to talk to Thierry Stern, the President of Patek Philippe. As you know Patek Philippe is a family owned company based in Geneva. I invite you to listen to the interview. We talk about Patek Philippe in general, the watches and Thierry even unveiled some numbers about production quantity and point-of-sales for me. Patek Philippe meanwhile makes more than 1 Billion Swiss Francs turnover and ranks among the seven Swiss watchmaking companies only achieving such a turnover.
Thank God he is not selling on the internet.....great interview..
as a patek owner...I was glad to see Thierry sticking to patek values..
Training the technical staff..the watchmakers...is key.....
A Bajaj Thank you for your positive feedback! I’m glad you liked the video...
I like this guy.I like he’s going to keep PP way far from internet sale.
Well done.
There is no need for PPC going online
@@WatchAdvisor a year later. They did!
@@farouqnimer Yes, due to COVID Patek Philippe allowed its retailers to also sell online...
Seems like a relatable guy - hope it stays a family owned brand.
The Wristwatch Experience It will stay family business. Just stupid rumors ... I did not even ask Thierry about ... crap !
Mr. Stern confirmed during an interview with Revolution Watch that the company is NOT for sale. He expressly said that Patek Philippe is family owned and always will be. Cheers!
Patek Philippe. Some of the very finest watches in the entire world, in my opinion.
Jay Burgess couldn’t agree more
Jay Burgess yes number 1
I've watched many you tube channel on luxury watch. Only Alexander is able to interview the CEO, President of some of the most reputable brands. In any business, not just the luxury watch business, getting access to the c level is more than a tall order. Alexander is a very well connected man in this industry.
Exactly, it's why I subscribed.
This is an excellent video! The questions asked were very interesting. Thierry Stern is a very interesting guy! Funny, I didn't know he was left handed, but he says so in this video. Thank you for sharing this video!
Philip A Winged Philip Thank you for the positive feedback!
Wonderful interview from a couple years ago, thank you very much.
True! Thank you! It is always a pleasure to speak to Thierry…
I don't mean to flood the comment section, but I rewatched this video and it is really great. My favorite part of the video is when Thierry Stern talks about the new Calatrava 5212A. First of all: What an incredibly cool watch. This has to be one of my favorite Patek Philippe watches I have ever seen. It's the type of watch where the watch itself is of course stunning, however the whole package around the watch, namely the playfulness it brings with it is a big big statement for a brand as significant as Patek Philippe. I wish more watches would do this as it's an indicator that the brand doesn't take itself all too seriously and can do something risky and creative. People can turn the watch around and see the incredible movement that went into it, a new movement which I believe holds a patent for the weekly calendar, and yet STILL the watch is in a stainless steel case!
BRAVO Patek Philippe!!
I like your comment! You ain't flooding anything here! Thank you so much for sharing your thoughts with us... Concerning what you say about the watch I couldn't agree more...
PP are in top form. Great pieces again this year. Demand exceeding supply. Perfect position for any company.
MichaelOC _ Yesssss!!! So true!
Great interview. Thank you 😊
Farshad Ghafourpour You are welcome 🙏
Farshad Ghafourpour You are welcome 🙏
WatchAdvisor I have been a fan of Patek for a long time and I was very lucky to be able to purchase my first one last year from one of the salons. I picked up the 5712 steel and I was even luckier to visit the factory back in November. I know have the Patek bug and no other watch will do. My name is on the list for the new 5726😍 🙏🏻🙏🏻🤞🏻🤞🏻
Your interviews are always among the best. Not sure if it's because of the rapport you have with your guests, or just your interviewing skills! The Pilot's watch was quite an unexpected surprise, and a very different direction compared to AP's new watch. The two brands both seem to be headed in different directions, rather than sticking to their old formulas. I love the new Pilot's watch, but sadly, will have to wait until they come out with an "entry level" version to be able to put one in my collection! I think it would do very well for them...
Dan Finch Dan, thank you for that compliment! It’s a mixture of both I would say... I know most of the people I’m talking to, but also I learned doing interviews and live moderations during the time I worked for Austria’s leading radio station “Ö3” ... It’s correct Audemars Piguet & Patel Philippe both dare ... That’s what others should also do. Especially Thierry Stern did choose to be a little bit more unconventional than his father ... The hardcore collectors have been blaming him therefore, but in the end all bought these watches... So never mind! ... I’m proud to have you among my viewers, keep those comments and opinions coming Dan...
Very interesting interview, I really like his vision.
The digital has changed the world, has helped a lot with some things and is certainly irreplaceable, but some things don't change, some products, some visions, some traditions require personal interaction, human touch, and skill, and serve a very human very analogical purpose.
A very similar comparison may be made with cars: electric vehicles might be the future and bring a lot of advantages, even drive themselves in the future, but a 288 GTO will always be a 288 GTO.
Thanks for sharing your thoughts and passion with us!
Kudos to you Terry Stern!!!!! you dont cave into anything!!! the world is going more and more into digital retail... you No..... Brand Ambassadors are common theme now in the luxury watch segment.... you No... People speculated that you are building a new building therefore you must be increasing production... you No.... I love how you make Patek true to itself and you don't bow to anyone ... not the internet... not to movie stars nor Athletes.... and to some degree the consumers!! but i think in a good way.... ie Discontinuation of the 5711 ... your like the Dad who knows best!!! knowing one day that his kid will realize his dad was right all along... awesome !! more power to you!
Thanks for sharing your thoughts and passion with us!
Thierry is a very easygoing person. I love how his manners are in this interview. Very informative and nice interview, Alexander :)
Thierry Stern is a humble and nice guy...
Hi Alexander, if posibble, tell the people of patek about the idea of a black (could be black ceramic ) Nautilus. Will like to see that watch in black, will be an interested move.
Excellent interview. Well done, Sir.
You are welcome! I am glad you liked it!
Not Swiss family owned.
Jack Black Thierry and his family are Swiss and they own Patek Philippe...
@@WatchAdvisor They are Jewish, no?
the Bible and a beer They are Swiss...
@@WatchAdvisor I do not mean to be stubborn but are they not ethnically Jewish?
WatchAdvisor Hello 👋🏻, I am new to your channel. Just subscribed. Ironically I was thinking they are of Jewish origin also.
Finally Thierry is here! If you have chance talking to Mr Stern again...
Can they expand the bracelet of Nautilus to the width of the 4th link (counting from the watch head), and make of the same width all the way to the buckle? That will reduce costs and make it more modern, and appealing to a younger people. Also, is it possible to introduce Nautilus with rubber strap (or at least Rose Gold with brown rubber strap) ? That is a bit easier and as Royal Oak Offshore shows will be selling well. That kind of style is popular among rich and daring in Miami or Dubai. They will insert diamonds and rocking it with polo shirts. I wrote to them 3 time via their web-site, no answer...
You should have asked him how they are tackling the grey market dealings.....
Thierry has reacted and done a lot against these developments already… The problem are greedy ADs, their flippers and resellers…
Hi I would just like to say, I put Patek on my hand and I am only ten🙂🙂🙂🙂
Congratulations! Which one?
WatchAdvisor hi I put the white nautilus I think btw ur a legend for talking to Thierry stern I love that guy such a legacy eh?
WatchAdvisor hi umm this is so cool thank u for responding
Pahkawat Nualanong The white Nautilus! Good taste! Cool watch! Is it your father’s Nautilus? Forgive me being so curious...
WatchAdvisor umm no actually my parents are Thai and have multiple pateks one day i went to Switzerland with them and the people working there let me wear the watch
only pp could could get away with building a brand new 100000m^3 and not increase production
I don't think that production will be increased dramatically. Still you need the woman-/manpower to realize such a step. Working with PPC needs a lot of skills and these people are rare ...
445 retailers "I should not increase, I should also not decrease it" today he has 375 retailers, and the reason being he is doing more direct sales through his 3 salons. By 2030 Patek will have less than 100 retailers.
IMHO that's a smart decision! If I were Thierry, I would sell all my watches by myself ...
@@WatchAdvisor Why? Brands were built by retailers, they are the ones who made Rolex, Patek, AP and even Richard Mille. What AP and Richard Mille did to their retailers is disgusting. I think Thierry is going down that same route, while Rolex and Omega seem to honour their retailers.
@@dk8797 Meanwhile greedy retailers are abusing this privilege and are no longer respecting the rules! Yes, Thierry will go that same route ... Rolex and Omega will follow the sooner or later...
@@WatchAdvisor AP model is not really working that well, with 40,000 annual production their cashflow is very bad at the moment (inside information and very accurate)... The idea of retailers is not only to sell your watches, but to hold your stock. Now Patek with 62,000 watches annual production and much higher average retail cost of a single watch, it will be interesting to see how they will sell and hold all those calatravas and annual calendars and how their cash flow will be when the watch industry, inevitably, heads south. Regarding greedy retailers, I agree, some are, but don't even for a second think that Salon managers and AP boutique managers are not greedy and don't have ways to share profits with their grey market dealers. Last but not least, don't forget that the huge part of watch industry are TAX FREE sales that are borderline criminal in the watch industry, Rolex is intelligent, they don't want anything to do with it, they let the retailers do the dirty work, and Rolex remains just a wholesaler. There are pros and cons to every model, but the time will show that the vertical model (AP model) is the wrong way for a watch manufacturer to go about their sales.
Thank you great interview regards Moshe
Metstechnologies.com
I just enquired after the 5212, was told emphatically not available, and no waiting list. Just leave my contact details...and that is here in Dubai!
You should have asked him how people on minimum wages are expected to be able to afford a PP?......
???
Thierry didn't wipe his nose properly after toilet visit, lol
I don't get the point...
@@WatchAdvisor Colombian magic ;-)
@@dk8797 I couldn't care less! Sorry! He is free to do what ever he wants...
@@WatchAdvisor He is free to do whatever he wants, but so are we. My comment about his sniffing is allegedly due to his frequent toilet visits.
Only question that matters is - How much did you sell for :)