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Sunday, July 21, 2024

Patek Philippe Is Introducing First New Watch Mannequin Since 1999


Opinions expressed by Entrepreneur contributors are their very own.

Patek Philippe, the ultra-luxury watch model, hasn’t launched a brand new watch mannequin since 1999. However that every one could possibly be set to vary, in keeping with Bloomberg.

On the Watches and Wonders honest in Geneva, Switzerland, final week, the President of Patek Philippe & Co., Thierry Stern, mentioned a brand new watch is within the works. It’s set to be unveiled later this yr.

“The design is finished, and the prototype is prepared and, actually, I prefer it,” he mentioned.

RELATED: Patek Philippe Stopped Promoting Its Most Standard Product. It is A Good Transfer

Patek Philippe is a Swiss watchmaker based in 1839. The family-owned firm’s luxurious watches can value upwards of $40,000 — to begin. Patek Philippe can be recognized to be “one of many final and most coveted impartial Swiss watchmaking manufacturers” on this planet, per Bloomberg.

Regardless of not releasing a brand new mannequin line in virtually 25 years (and worldwide financial uncertainty), demand for Patek Philippe timepieces has been surging, in accordance to the Night Commonplace.

Patek Philippe makes 70,000 watches a yr. And Stern mentioned the corporate cannot produce extra whereas sustaining high quality — maybe why there hasn’t been a brand new launch in virtually 1 / 4 century.

“As I could not improve the manufacturing, my solely different selection was to cut back the purpose of gross sales so that everyone might get just a little bit extra watches,” he mentioned to Bloomberg.

“I am a watchmaker, I am promoting new watches,” he added. “That is what I am good at.”

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