"You never actually own a Patek Philippe. You merely take care of it for the next generation.”

These words immortalised Patek Philippe in the eyes of the world since it first appeared on the Swiss luxury watchmaker’s advertising campaign and acutely summarises what the brand is all about. This year, Patek Philippe celebrates its 175th anniversary, which is no mean feat considering the stiff competition it has faced from other watchmakers throughout history. Somehow, through the economical crises and socio-political uncertainties the world faced from 1839 until today, Patek Philippe has withstood all obstacles and has managed to keep its position as one of the world’s most reputable watchmakers.

It has been said that some watch brands shout out about an earlier incorporation date but in fact, they had discontinued their business activities over the course of time due to myriad reasons (war, etc) and were reestablished much later with new people – often decades later.

On this note, Patek Philippe has been operational in the business without interruption since May 1, 1839 and has always been a privately owned company. Its history can be told in three eras: its inception, the Stern family’s acquisition and its present day.

 

CHAPTER 1: THE FOUNDERS' DAYS

In 1839, Antoine Norbert de Patek started Patek, Czapek & Cie - Fabricants a Geneve together with his acquaintance Francois Czapek, a Bohemian watchmaker, and Thomas Moreau, his wife’s uncle. A daring entrepreneur, Patek was an excellent networker who was focused on taking his business to the next level. While the company thrived, there was discord between Patek and Czapek and he soon broke off the partnership to enter a new one with a new partner he met at the 1844 industrial exhibition in Paris, Jean Adrien Philippe.

Left: Antoine Norbert de Patek; right: Jean Adrien Philippe

Jean Adrien Philippe was a gifted French watchmaker who invented a mechanism for winding and setting pocket watches without a separate key. He was a recipient of a patent grant in 1945 and received two more patents for his work in system refinements in between 1860-1861. On January 1, 1951, the company was renamed Patek, Philippe & Cie.

Philippe’s talents were well-matched with Patek’s bold marketing moves and under their guidance, the company thrived. The watches were soon introduced to the New World (America) and were coveted by renowned historical figures such as Queen Victoria and Pope Pius IX.

Even after Patek’s passing, the company’s employees pumped capital to the company to ensure its growth and expansion. The Calatrava cross was soon registered by the company in 1887. Grand complication watches were released year after year, such as minute repeaters, chronographs and perpetual calendars.

 

CHAPTER 2: ENTER THE STERNS

In 1929, stock prices plummeted drastically in October within only one day, triggering a protracted global economic crisis known as Black Tuesday. The company was unable to protect itself from this. Rather than letting a competitor take over its operations or closing its business, its directors sought the help of brothers Charles and Jean Stern, whose company Cadeans Stern Freres produced top-quality dials and was one of the company’s preferred suppliers. Charles and Jean not only helped Patek Philippe; in 1832, they took a stake in the company and acquired it within a year.

 Patek Philippe Ref. 96

Rather than immediately assuming control, the brothers hired horologist specialist Jean Pfister to lead Patek Philippe as its chief executive until his retirement in 1958. Before 1932 ended, Patek Philippe launched the Ref. 96, a watch model that would serve as the prototype of the legendary Calatrava collection that is beloved for its pure and clean aesthetics.

In 1934, Charles Stern was appointed as chairman of the board of directors. Now a single family owns Patek Philippe. The Stern family was determined to focus its energies on ensuring its entrepreneurial decisions are made for the long-term prosperity of the company. Its eventual transition from pocket watches to wrist watches was a smooth one, thanks to the Sterns’ visionary leadership.

Henri Stern, Charles’ son was the next chief executive to serve Patek Philippe after Pfister’s retirement in 1958. Before his ascension, Henri worked tirelessly to bring Patek Philippe watches to the US market. In 1977, his son Philippe Stern took over the reins as CEO. A technology enthusiast, he had confidence in mechanical watchmaking and encouraged his engineers and watchmakers to dream big and accomplish breakthroughs in turning watchmaking into a work of art.

 Patek Philippe Calibre 89

To commemorate the company’s 150th anniversary in 1989, it launched the Calibre 89 pocket watch with 33 complications. This timepiece still holds the world record for complicated portable mechanical timepieces.

 

CHAPTER 3: TODAY AND TOMORROW

In 1996, Patek Philippe moved to a new manufacture complex in Plan-les-Ouates in Geneva and continued developing amazing complications as the years passed by.

 

In 2000, Patek Philippe ushered in the new millenium with a new ‘Supercomplication’ pocket watch, the double-face half hunter Star Caliber 2000 composed of 1118 parts and featuring 21 complications, among them a Grande and Petite Sonnerie that can play an original Westminster melody and a minute repeater that strikes on five gongs. The opposite face has an astronomical dial with sidereal time, a sky chart and the synchronised display of the phases and angular progression of the orbiting moon.

In 2001, Patek Philippe inaugurated its own museum, with over 2000 exhibits from the 500-year-old history of portable mechanical timepieces. Boasting a collection of Patek Philippe watches from 1839 to date and a library of more than 8000 publications on watches, astronomy and timekeeping, it is the result of both Henri and Philippe Stern’s desire to ensure the company’s legacy lives on.

In 2009, Philippe’s son Thierry Stern was elected chairman of Patek Philippe. Like his forefathers, Thierry Stern is determined to run the company the way it has always been run for the past 175 years, as an independent entrepreneurial company that does not compromise on its inherent values and legacy.

 

All images courtesy of Patek Philippe

 

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