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Patek Philippe CEO Planning Rollout of First New Watch in 24 Years

Patek Philippe is set to launch a new model line for the first time in 24 years as demand has raised resale prices above retail. The luxury brand has cut its retail distribution network by 30% while Stern's two sons will join the family-owned company and learn all aspects of the business next year.

1 min read
  • Patek Philippe is launching a new model line for the first time in 24 years.
  • Thierry Stern expects the new line to compete with its most desirable timepieces.
  • The new line could be unveiled later this year or next year.
  • Patek has cut its retail distribution network by 30% due to overwhelming demand.
  • Stern's two sons will join Patek and learn all aspects of the business next year.
Patek Philippe CEO Planning Rollout of First New Watch in 24 Years
Patek Philippe SA will soon introduce a new model line for the first time in nearly a quarter century, a fresh offering that the head of the family-owned Swiss watchmaker expects could one day compete with its most desirable timepieces.
BloombergAndy Hoffman

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