Interview w Thierry Stern

[ts3]

FYI an interview w Thierry Stern plus an article about managing the brand from yesterday's Neue Zürcher Zeitung for those willing to practice their German.

https://www.nzz.ch/wirtschaft/patek-...ion-ld.1512553

https://www.nzz.ch/wirtschaft/wie-ma...ppe-ld.1512557

[Fat_ninja]

Google translate.

Thanks man

[d11n]

super interesting to read his views on the grey market and what it means... notables for me were that Patek buys about 100 watches a year from the grey market to track down which dealer they came from...also notable is their continued strategy to not own the sales channel but to enable it. He does seem to be talking to dealers about how to curb greys in the right way as he acknowledges people collect differently and will want to trade watches...he mentioned 5-10 years defining a pre-owned watch...not days...

other points...

two sons, 18 yr old had his first official meet and greet at Singapore, going to management school, younger son getting training in watchmaking. no plans to sell the company. 62,000 production numbers, usual stuff on why limiting Nautilus and steel...

thank you for posting, thank you google translate.

[Pim]

Originally Posted by ts3

FYI an interview w Thierry Stern plus an article about managing the brand from yesterday's Neue Zürcher Zeitung for those willing to practice their German.

https://www.nzz.ch/wirtschaft/patek-...ion-ld.1512553

https://www.nzz.ch/wirtschaft/wie-ma...ppe-ld.1512557

Some of us can actually read German (can't speak it well but hey), so thank you for sharing !

[MilesB]

Originally Posted by d11n

also notable is their continued strategy to not own the sales channel but to enable it.

I read something similar in another interview. Where do the salons fit into that strategy? Aren't they owned by Patek Philippe?

[d11n]

Originally Posted by Pim

Some of us can actually read German (can speak it well but hey), so thank you for sharing !

I never had the gift of languages...so I'm left with technology.

in your opinion anything in the piece that reflects subtlety of language that google translate might have missed? humor is a good example that translate often struggles with.

[tom2517]

Originally Posted by d11n

super interesting to read his views on the grey market and what it means... notables for me were that Patek buys about 100 watches a year from the grey market to track down which dealer they came from...also notable is their continued strategy to not own the sales channel but to enable it. He does seem to be talking to dealers about how to curb greys in the right way as he acknowledges people collect differently and will want to trade watches...he mentioned 5-10 years defining a pre-owned watch...not days...

other points...

two sons, 18 yr old had his first official meet and greet at Singapore, going to management school, younger son getting training in watchmaking. no plans to sell the company. 62,000 production numbers, usual stuff on why limiting Nautilus and steel...

thank you for posting, thank you google translate.

I agree days is too short, but 5-10 years is far too long, many marriages don’t even last that long.

[d11n]

Originally Posted by MilesB

I read something similar in another interview. Where do the salons fit into that strategy? Aren't they owned by Patek Philippe?

his quote was in that other interview was...

"He added that Patek values the relationships they have made with their partners throughout the world. And will only venture into boutiques opened together with them"

[Pim]

Originally Posted by d11n

I never had the gift of languages...so I'm left with technology.

in your opinion anything in the piece that reflects subtlety of language that google translate might have missed? humor is a good example that translate often struggles with.

I think Google translate did a decent job, there was one line I found a bit off, but I forgot which one it was :P