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Henri Stern | |
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When one speaks with watch collectors and aficionados one brand is consistently singled out as being "the Rolls-Royce of watches." Like the esteemed automobile manufacturer, it is a name that has become synonymous with perfection, exclusivity and the finest craftsmanship. The company is Patek Philippe, and its history offers a compelling insight into how this unique, family-held watch company has dominated the Swiss watch industry for over 160 years.
One has to wait until the finacial crisis of the 30s to witness the arrival of the Stern family at Patek Philipe. The outbreak of the world financial crisis in 1929 and the ensuing drop in sales of highly priced watches forced the company to look for a financially sound majority stakeholder. An offer by David LeCoultre, a movement manufacturer from Le Sentier in the Vallee de Joux was turned down. Patek Philippe was finally sold to Charles and Jean Stern, who owned Fabrique de Cadrans Stern Freres, the company that exclusively supplied dials to Patek Philippe. A new general manager, Jean Pfister, was hired. Pfister's first move was to re-start the manufactuer of in house movements. For the first time in years, Patek Philippe was able to control every aspect of its production and under Mr Pfister's management sales picked up and the company's financial health gradually improved. |
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In 1958, Henri Stern who had spent over 20 years in charge of the American market was recalled to Switzerland, to replace Jean Pfister as President and Managing Director of Patek Philippe. Henri Stern's contribution to the success of Patek Philippe was to allow the company to grow, without compromising its founding principles. Under his watchful eye, the company introduced such models as the Nautilus and bravely weathered the industry's economic crisis of the 70s and 80s. Further advances were made in the development of new movements. One such breakthrough was the 240 Caliber, a self-winding movement featuring a micro-rotor that allowed Patek's designers to produce flat automatic wristwatches.
In 1990, Henri Stern stepped down as President of Patek Philippe to enjoy a well-deserved retirement. Since then, his son Philippe Stern, who began working at Patek Philippe in 1977, has been responsible for overseeing the company's business activities. Philippe Stern has proven himself to be a highly capable, responsible executive, introducing successful models such as the World Time, the Annual Calendar or the 24 ladies watch and many others. In addition, Patek Philippe consolidated its many workshops throughout Geneva, moving into a new state-of-the-art headquarters in 1996 situated in the Genevan suburbes of Plan les Ouates. Stern is training his son Thierry to someday succeed him as president of Patek Philippe. Thus, when Thierry takes over the company, he will be the fourth generation of the Stern family entrusted with guiding the destiny of this unique House. In doing so, he will honor a grand tradition which dates back to 1845…and a partnership whose spirit lives on forever in the marvelous products of Patek Philippe. | |