Press Release Patek Philippe, Geneva June 2020 Patek Philippe

Total Page:16

File Type:pdf, Size:1020Kb

Press Release Patek Philippe, Geneva June 2020 Patek Philippe Press Release Patek Philippe, Geneva June 2020 Patek Philippe announces the completion of its new production building in Geneva and celebrates the occasion with the launch of a limited-edition timepiece. Beginning of 2020, the manufacture completed the construction work that had started in 2015 and initiated production activities in its new building on the outskirts of the city of Geneva. The highly modern architecture of this structure can unite all of the manufacture’s Genevan ateliers under one roof, a great advantage given the growing complexity of production operations. Moreover, it offers ample space for the rare handcrafts professionals and for basic and advanced training of the employees. With its impressive dimensions (10 floors and a length of nearly 200 meters), it expands the 1996 building complex and anticipates the manufacture’s growth in the next 20 to 30 years. The new building reasserts Patek Philippe’s Genevan roots and its confidence in the future of watchmaking artistry that perfectly melds tradition and innovation. The completion of the structure is being celebrated with the launch of a commemorative watch: The Ref. 6007 Calatrava in steel stands out with an exclusive design concept and will be crafted in a limited edition of 1000 pieces. In 1996, under the auspices of then president Philippe Stern, Patek Philippe announced a pioneering achievement: the inauguration of a new manufacture of unmatched proportions in Plan-les-Ouates. The company was the first brand to establish a presence in this Genevan suburb community that was later referred to as “Plan-les-Watches”. The objective at the time was to reunite under one roof the individual business activities that were previously distributed across over a dozen sites throughout the city and to thus secure the independence of the company in the long term. Although the new building was generously sized, it soon proved again to be too small to cope with the manufacture’s vigorous growth. For this reason, the exterior operations (production of watch cases and bracelets as well as gemsetting) were relocated to the neighboring community of Perly in 2003. In 2009, land was purchased to expand the plot in Plan-les-Ouates and an existing office building was converted into an atelier complex where, subsequently, all movement components were produced. Growing space requirements for production With the launch of the project for the construction of a new building, Thierry Stern – incumbent manufacture president since 2009 – pursued two goals: the relocation of the ateliers from Perly to Plan- les-Ouates and the provision of additional space especially for the growing production and training activities. The issue was not to noticeably increase the volume of watches produced from currently almost 62,000 pieces per year. Annual production is already limited in a natural way by the extremely strict quality directives of the Patek Philippe Seal. Instead, the last independent family-owned manufacture in Geneva wanted to secure efficient and rational production resources to cope with the expanding challenges of the present and the future. During the past quarter of a century, the current Patek Philippe collection evolved at a brisk pace. Today, the complicated watches account for nearly half of all models. The “useful complications” (patented PATEK PHILIPPE SA GENEVE Chemin du Pont-du-Centenaire 141 – 1228 Plan-les-Ouates P.O. Box 2654 – CH – 1211 Geneva 2 – Switzerland Tel. + 41 22 884 20 20 – Fax + 41 22 884 25 47 – www.patek.com Continued 2 Annual Calendar, Weekly Calendar, Travel Time Two-Zone display, World Time) experienced rapid growth and clearly increased the required number of special mechanisms. Also, Patek Philippe’s customer-centric development philosophy resulted in a multiplication effect involving all the mechanisms that simplify the use of the timepieces, that increase operating integrity, and that enhance dependability, especially of grand complications. The result is a growing average number of components per watch. The strategy of Patek Philippe to broadly structure its current collection (simple watches, useful complications, grand complications, casually elegant watches, ladies’ watches, jewelry watches) and the product palette of over 160 models that are crafted in series ranging from a dozen to several hundred pieces fitted with an extensive selection of calibers crafted in-house also increase the need for production space. The situation is made more acute by the growing demand for highly elaborate rare handcrafts watches. It all started with a small groundbreaking ceremony in October 2015. Five years later, the manufacture’s totally new production center now stands on a plot once occupied by the company’s parking lot. An extensive construction project The new Patek Philippe building stands out with impressive dimensions: 189 meters long, 67 meters wide, 34 meters above ground, with 10 floors, of which four subterranean. Its modern architecture accentuates the landscape of Plan-les-Ouates. The large-format glazing (abundant daylight is a must) interacts with white concrete passageways along the entire façade and the intermittent bronze-colored fire escapes in the New York style. The impression is that of a huge ocean liner with clearly defined forms. And as in Patek Philippe watches, the subtlety of the ensemble melds with exceptionally refined details such as the slight horizontal curvature of the passageways reminiscent of the gently rounded octagon of the Nautilus case, or the balustrades of the fire escape ladders with a silhouette that resembles the form of leaf-shaped hands. Patek Philippe’s complete repository of know-how under one roof The interior spaces are divided into five segments that are separated by four staircases and include 20 passenger and freight elevators. The ground floor and the first floor are reserved for production and manual finissage of movement parts (plates, bridges, wheels, form parts, etc.) while the focus on the second floor is machining, manual polishing, and the assembly of exterior parts (cases, bracelets) and gemsetting. In addition to the production of the current collection, these ateliers are also responsible for crafting the inventory of spare parts needed by Customer Service, a key success factor for Patek Philippe. The restoration of antique timepieces also takes place here. The third floor accommodates further production-related departments such as Research & Development in the fields of new materials and new technologies (Patek Philippe Advanced Research), an haute horlogerie department, and a new unit for prototyping operations. The fourth floor provides space for further evolving and handing down of the rare handcrafts skills that Patek Philippe has actively promoted (manual engraving, enameling, guilloching, wood micromarquetry, etc.). In addition to an auditorium that seats 299 persons, the same floor also has rooms where watchmakers and staff members of the international sales network receive training. On the fifth floor, the building is crowned by a penthouse restaurant for 880 guests as well as four VIP lounges, all with a fantastic panoramic view of the landscape and the nearby mountains. Wardrobes are located along a large “boulevard” in the first basement, allowing staff members to circulate freely before Continued 3 continuing on to their workstations at the different levels. The four basement floors also contain all building technology installations as well as a parking facility for a total of 635 vehicles. A vision of tomorrow With its envelope and technical equipment, the new Patek Philippe building complies with the “Haute Performance Energétique (HPE)” standards pursuant to the energy laws of the canton of Geneva. Thus, waste heat, for example, is used for heating purposes. An application has been filed for the Minergie-P label, the highest energy efficiency classification. The total investment is CHF 600 million, of which CHF 500 million for the structure and CHF 100 million for interiors as well as the avant-garde technical resources. The first relocations already took place in July 2019, when the production of caliber components was moved; since 2009, this operation had been housed in an adjacent office building which can now be razed. In February 2020, the ateliers for exterior parts and gemsetting left Perly and moved to their new premises. Nearly a quarter of a century following the inauguration of the manufacturing complex in Plan- les-Ouates, all of Patek Philippe’s activities in Geneva are once again clustered in the same location. Additionally, a generous amount of extra space is available to accommodate the brand’s growth in the next 20 to 30 years. These are ideal prerequisites for securing the success of the family-owned manufacture and preserving its independence for the coming generations. Continued 4 New Patek Philippe production building in Plan-les-Ouates Owner PATEK PHILIPPE GENÈVE SA Architects Building concept Frisk de Marignac Pidoux, Genève Interior architecture (planning and execution) Frei & Stefani SA, Thônex Low-energy building HPE (Haute Performance Energétique, Genevan standard) The Minergie-P label (better than Minergie) was applied for. Key dates Project launch January 2014 Application for construction permit December 15, 2014 Construction start July 2015 Completion of construction work April 2020 Facts and figures Length (incl. passageways) 189.40 m Width (incl. passageways) 67.60 m Height above ground (without technology on roof) 34 m Basement depth 17 m Number of floors 10 (6 above ground,4 below ground) Total area approx. 133,650 m2 Building volume approx. 542,000 m3 (about 7 Airbus A380) Total volume approx. 606,300 m3 Total budget CHF 600 million of which CHF 500 million for the building and CHF 100 million for interiors and equipment Basement volume 260,000 m3 (90 Olympic pools) Support pillars 1100 Formwork 113,000 m2 (15 football fields) Concrete 8000 m3 (cube with 43 m side length) Rebar steel > 14,000 tons (2 Eiffel Towers) Thickness of concrete slabs 50 cm .
Recommended publications
  • Press Release
    Press release Zurich/Geneva, 17 April 2019 Global Powers of Luxury Goods: Swiss luxury companies are taking the digital path to accelerate growth • The sales of the world’s Top 100 luxury goods companies grew by 11% and generated aggregated revenues of USD 247 billion in fiscal year 2017 • Richemont, Swatch Group and Rolex remain in the top league of Deloitte’s Global Powers of Luxury Goods ranking • All Swiss companies in the Top 100 returned to growth in FY2017, but with only 8% increase, they lagged behind the whole market for the third time in a row • Luxury goods companies are making significant investments in digital marketing and the use of social media to engage their customers Despite the recent slowdown of economic growth in major markets including China, the Eurozone and the US, the luxury goods market looks positive. In FY2017, the world’s Top 100 luxury goods companies generated aggregated revenues of USD 247 billion, representing composite sales growth of 10.8%, according to Deloitte’s 2019 edition of Global Powers of Luxury Goods. For comparison, in FY2016 sales were USD 217 billion and annual sales growth was as low as 1.0%. Three-fourth of the companies (76%) reported growth in their luxury sales in FY2017, with nearly half of these recording double-digit year-on-year growth. Switzerland and Hong Kong prevail in the luxury watches sector Looking at product sectors, clothing and footwear dominated again in FY2017, with a total of 38 companies. The multiple luxury goods sector represented the largest sales share (30.8%), narrowly followed by jewellery and watches (29.6%).
    [Show full text]
  • New Twenty~4 Models Is Accompanied by a Digital Communication Campaign Addressing Modern Women Sure of Their Taste, with an Affinity for Beauty and Fine Design
    Press release Patek Philippe, Geneva October 2020 A new face for the Twenty~4, the Patek Philippe ladies’ watch born to accompany every moment of the modern woman’s life The manufacture is stepping up the allure of its Twenty~4 collection exclusively for women with a fresh interpretation of the original “manchette” or cuff-style quartz model in steel of 1999. It is launching two new versions adorned with white-gold applied Arabic numerals and white-gold applied trapeze-shaped hour markers. Designed as stylish companions to every facet of an active lifestyle, these Twenty~4 references 4910/1200A- 001 with a blue sunburst dial and 4910/1200A-010 with a gray sunburst dial stand out more than ever as paragons of timeless feminine elegance. Since 1839, timepieces for women have always featured prominently in Patek Philippe’s collections – whether as the pocket watches or pendant watches of the nineteenth century or the wristwatches that first emerged in the early twentieth century. Several milestones in the manufacture’s history also relate to watches destined for women, such as the first true wristwatch made in Switzerland, created for a Hungarian countess in 1868, and the Geneva company’s very first striking wristwatch, a five-minute repeater housed in a small platinum case with an integrated chain bracelet in 1916. A modern classic In 1999, Patek Philippe strengthened its privileged links with feminine watch lovers by launching its first collection dedicated exclusively to women. The aim was to meet the demands of the independent active woman who sought a timepiece with an assertive personality able to adapt to her modern lifestyle.
    [Show full text]
  • Deloitte Global Powers of Luxury Goods 2018
    Global Powers of Luxury Goods 2018 Shaping the future of the luxury industry Contents Foreword 3 Top 100 quick statistics 4 Shaping the future of the luxury industry 5 Global Economic Outlook 9 Top 100 highlights 13 Global Powers of Luxury Goods Top 100 15 Top 10 highlights 23 Fastest 20 27 Product sector analysis 29 Geographic analysis 37 Newcomers 45 Study methodology and data sources 47 Endnotes 50 Contacts 51 Luxury goods in this report focuses on luxury for personal use, and is the aggregation of designer clothing and footwear (ready-to-wear), luxury bags and accessories (including eyewear), luxury jewellery and watches and premium cosmetics and fragrances. Foreword Welcome to the fifthGlobal Powers of Luxury Goods. The report examines and lists the 100 largest luxury goods companies globally, based on the consolidated sales of luxury goods in FY2016 (which we define as financial years ending within the 12 months to 30 June 2017). It also discusses the key trends shaping the luxury market and provides a global economic outlook. The world’s 100 largest luxury goods companies generated personal luxury goods sales of US$217 billion in FY2016. At constant currency, the growth rate was 1 per cent, 5.8 percentage points lower than the 6.8 per cent currency-adjusted growth achieved by these companies in the previous year. The average luxury goods annual sales for a Top 100 company is now US$2.2 billion. The luxury market has bounced back from economic uncertainty and geopolitical crises, edging closer to annual sales of US $1 trillion at the end of 2017.
    [Show full text]
  • The Authorized Biography the Definitive History of the Legendary Swiss Manufacture
    Press release Patek Philippe SA Geneva November 2016 Patek Philippe: The Authorized Biography The definitive history of the legendary Swiss manufacture Written by Nicholas Foulkes, an acclaimed specialist in art and horology, and spanning over 500 pages, this work describes the evolution of the independent Genevan manufacture from its beginnings in 1839 to the present. The English edition is being released in November and will be followed by other languages as of 2018. Drawing on exclusive interviews with the company’s owners and with staff and watchmakers past and present, as well as on hitherto unseen documents from the company’s archives, Patek Philippe: The Authorized Biography celebrates the history of a unique company. Renowned historian, author, and editor Nicholas Foulkes traces Patek Philippe’s history from founder Antoine Norbert de Patek’s early life in Poland as a young cavalry officer fighting in a doomed uprising. He recounts Patek’s exile, his life in Geneva, his meeting with gifted watchmaker Jean Adrien Philippe, and the 1932 purchase of the company by the Stern family, whose members, over four generations, have turned it into the legend that it is today. His vibrant narrative pays tribute not only to the creations of the Genevan manufacture but also to the gifted individuals who forged its history – especially to the many generations of watchmakers and artisans who can take credit for its success. Among other notable anecdotes, The Authorized Biography reveals, for the first time, the story of a unique timepiece bought by Queen Victoria for her husband Prince Albert. In addition, Nicholas Foulkes was granted privileged access to interview the widow of famed Swiss jewelry designer Gerald Genta, who was responsible for the design of the first Nautilus model in 1976.
    [Show full text]
  • Global Powers of Luxury Goods 2018 Shaping the Future of the Luxury Industry Contents
    Global Powers of Luxury Goods 2018 Shaping the future of the luxury industry Contents Foreword 3 Top 100 quick statistics 4 Shaping the future of the luxury industry 5 Global Economic Outlook 9 Top 100 highlights 13 Global Powers of Luxury Goods Top 100 15 Top 10 highlights 23 Fastest 20 27 Product sector analysis 29 Geographic analysis 37 Newcomers 45 Study methodology and data sources 47 Endnotes 50 Contacts 51 Luxury goods in this report focuses on luxury for personal use, and is the aggregation of designer clothing and footwear (ready-to-wear), luxury bags and accessories (including eyewear), luxury jewellery and watches and premium cosmetics and fragrances. Foreword Welcome to the fifthGlobal Powers of Luxury Goods. The report examines and lists the 100 largest luxury goods companies globally, based on the consolidated sales of luxury goods in FY2016 (which we define as financial years ending within the 12 months to 30 June 2017). It also discusses the key trends shaping the luxury market and provides a global economic outlook. The world’s 100 largest luxury goods companies generated personal luxury goods sales of US$217 billion in FY2016. At constant currency, the growth rate was 1 per cent, 5.8 percentage points lower than the 6.8 per cent currency-adjusted growth achieved by these companies in the previous year. The average luxury goods annual sales for a Top 100 company is now US$2.2 billion. The luxury market has bounced back from economic uncertainty and geopolitical crises, edging closer to annual sales of US $1 trillion at the end of 2017.
    [Show full text]
  • Cerved Official Document
    COMPETITORS ITALY CLOCKS AND WATCHES November 2012 INTRODUCTION TO METHODOLOGY Databank's methodology for Competitors reports begins with a careful screening to identify the main organisations that are representative of a given sector. Several one-to-one interviews are then conducted with the selected organisations. Questionnaires are sent to all the leading companies on an annual basis. The information collected is then verified by an expert in the particular sector using a system of counterchecks to guarantee that the information is entirely reliable and consistent. The process is then completed using Cerved Group's proprietary information about Italian enterprises. All Competitors reports also include details concerning the strategies and performances of the leading companies in each sector. Wherever no specific source is indicated, the information published in these reports can be assumed to have been taken from Cerved Group's proprietary information bank. Coverage of any sector in Competitors products may be used in company presentations or in training courses on the subject. www.databank.it SECTOR DESCRIPTION Scope This report covers various kinds of watches and clocks. • Product technology Based on the timekeeping technology, three main types of clocks can be distinguished: mechanical clocks, which can in turn be divided into those powered manually (by winding) and those powered automatically; quartz clocks, where the passage of time is measured using the oscillations of a quartz crystal; clocks with complex movement mechanisms, such as those with functions beyond indicating hours and minutes (e.g. the exact date even in leap years, lunar cycles and stopwatch functions). The most difficult mechanisms to produce include minute repeaters (tones that signal each minute) and the tourbillon (an additional mechanism used to regulate the timekeeping device to counter the effects of gravity).
    [Show full text]
  • Case 0:18-Cv-62790-DPG Document 1-1 Entered on FLSD Docket 11/16/2018 Page 1 of 1 Case 0:18-Cv-62790-DPG Document 1 Entered on FLSD Docket 11/16/2018 Page 1 of 63
    Case 0:18-cv-62790-DPG Document 1-1 Entered on FLSD Docket 11/16/2018 Page 1 of 1 Case 0:18-cv-62790-DPG Document 1 Entered on FLSD Docket 11/16/2018 Page 1 of 63 UNITED STATES DISTRICT COURT SOUTHERN DISTRICT OF FLORIDA AUDEMARS PIGUET HOLDING SA, BREITLING U.S.A. INC., CHANEL, INC., GUCCI AMERICA, INC., HENRI STERN WATCH AGENCY, INC., HUBLOT SA, GENÈVE, COMPAGNIE DES MONTRES LONGINES, FRANCILLON S.A., MOVADO LLC, OMEGA SA, RADO UHREN AG, TURLEN HOLDING SA, and LVMH SWISS MANUFACTURES SA, Plaintiffs, vs. BLUELANS, CHENGLIAN, CRAZY STORE, ENGHUANIU, ETHEREAL, EVERGRAND, FASHION&PRETTY, FLEECEBOO, GUOMIAOMIAO1314, HERUN INDUSTRIAL CO., LTD., ZHEJIANG, JIANGLINA, JIANGQIONG STORE, JINGJIANSTORE, MENGHONGYAN, MINGXINGBIAOYEYOUXIANGONGSI, MONTH CLOUD, ROADTOALLWAYS, SHENZHENSHIQINGMEIKEJIYOUXIANGONGSI, SHIXIN888999666, SILVER CHINESE, TOPBIRDY, WEIYE, XINLINGZHONGBIAO, YICHENG TESCO, GOD BLESS US & MY TIME ZONE STORE, MY TIME ZONE, WATCHESTIME, BEST4CHOOSE, CORPOR2008, GUDAOXIAGU-0, JOFTBENN7, KHER6424, MIKI2016, SPRINGENN, FAFAFA8886, KISSCOME0411, LEEHOMWANG, PAYCAY, VIVAQ8, WRISTWATCHESHERE, ZHIMAKAIHUA2015, BAGAHOLICS20000, BESTWATCHES88, HB_LUXURY_BAGS, HYPE_REPLUG, LUXURY_BAG_SHOES_SHOP, LUXURYBRAND.FACTORY1314, LUXURYGIRL9328, MSHOP8_TEL_89516445438, ROLEXFULLDIAMANTES, ROLEXWATCH2018, WATCH_HAPPENS, WATCHESPAGES, PHAN.OFFICIAL9 a/k/a PHANOFFICIAL.COM, XFASHION_BOUTIQUE222 a/k/a KINGLUXURY222.COM, CLASSEMPORIUM.COM, and SWISSREPLICAWATCHESININDIA.COM, each an Individual, Partnership, Business Entity, or Unincorporated Association, Defendants.
    [Show full text]
  • A Thesis on the Authenticity and Preservation of Functionally-Used Objects Joshua Karl Sundermeyer a Thesis Submitted in Partial
    A Thesis on the Authenticity and Preservation of Functionally-Used Objects Joshua Karl Sundermeyer A Thesis Submitted in partial fulfillment of the Requirements for the degree of Master of Arts University of Washington 2019 Committee: Wilson O’Donnell Hollye Keister Bruce Hevly Program Authorized to Offer Degree: Museology © Copyright 2019 Joshua Karl Sundermeyer University of Washington Abstract A Thesis on the Authenticity and Preservation of Functionally-Used Objects Joshua Karl Sundermeyer Chair of the Supervisory Committee: Wilson O’Donnell Department of Museology For many museums with physical collections, preventive conservation was the basis for “best- practice” collections management policies. Under such a philosophy, the purposeful subjection of a collections object to hazardous conditions would be unacceptable. Hazardous conditions simultaneously risked a permanent loss to the object’s state of preservation and impacted its original authenticity. And yet, there were museums that functionally utilized their objects of functional or utilitarian purpose. Utilization referred to the museum using a utilitarian or functional object toward the purpose it was built to perform. There was not a large body of literature detailing how museums with functioning collections objects regarded the issues of authenticity and preservation. This study attempted to discover how museums that functionally- use objects from permanent collections considered how object authenticity intersected object preservation. This study employed a Delphi technique to acquire data. The intention was to find consensus, or a convergence of opinion, amongst the participants. Collections managers of five museums in the United States that functionally used objects were included in the study. The results of this study suggested a single principal conclusion: that the intersection of authenticity and preservation of museum collections objects is that of the functional-use of those objects.
    [Show full text]
  • Global Powers of Luxury Goods 2020 the New Age of Fashion and Luxury Contents
    Global Powers of Luxury Goods 2020 The new age of fashion and luxury Contents Foreword 3 Quick statistics 4 The new age of fashion and luxury 5 Top 10 highlights 17 Top 100 24 Geographic analysis 31 Product sector analysis 37 New entrants 42 Fastest 20 43 Study methodology and data sources 45 Endnotes 47 Contacts 50 Foreword Welcome to the seventh edition of Global Powers of Luxury Goods. At the time of writing, the COVID-19 pandemic has inflicted many losses: human, social and economic. What we are now experiencing is an unprecedented moment of crisis in modern history. However, it is during uncertain times that companies often come up with new ideas, converting the crisis into an opportunity, and adopting a long-term vision of future challenges. This prolonged disruptive situation is creating profound changes in consumer behavior and how companies are responding to these changes—prompting a debate about the future of the fashion and luxury industry. There is a general feeling of rethinking luxury and driving it in new directions, considering which business models will be feasible and more relevant in the new normal. Tradition and responsiveness, two elements that have always characterized luxury companies, will both be required to face great challenges in the post-COVID environment. We see the pandemic acting as a divider between the old way of doing business and the new scenario that is taking shape, characterized by changing consumer behavior. Hence, in this report, we talk about a new age for fashion and luxury and will explore the main trends that will drive the industry in the coming months.
    [Show full text]
  • Press Release Patek Philippe, Geneva April 2021 Ref. 5236P-001 In-Line Perpetual Calendar Patek Philippe Introduces a Totally Ne
    Press Release Patek Philippe, Geneva April 2021 Ref. 5236P-001 In-line Perpetual Calendar Patek Philippe introduces a totally new perpetual calendar with an innovative patented one-line display The manufacture has expanded its rich range of calendar watches with the addition of a perpetual calendar that displays the day, the date, and the month on a single line in an elongated aperture beneath 12 o'clock. To combine this unique feature with crisp legibility and high reliability, the designers developed a new self-winding movement for which three patent applications have been filed. This new in-line perpetual calendar premières in an elegant platinum case with a blue dial. As classic grand complications par excellence, perpetual calendars have always been prominently featured in Patek Philippe’s collections. In 1925, the Genevan manufacture presented the first wristwatch with this highly elaborate complication (movement No 97’975; the watch is on display at the Patek Philippe Museum in Geneva, No. P-72). Patek Philippe perpetual calendars offer a wide range of design elements with analog or aperture displays and dial configurations. Models with the famous self-winding ultra-thin caliber 240 Q movement, such as the Ref. 5327, can be recognized by their day, date, and month displays in three separate subsidiary dials. The self-winding caliber 324 S Q, which among others powers the Ref. 5320, exhibits another traditional face among the manufacture’s perpetual calendars. It features a dual aperture for the day and month at 12 o'clock and a subsidiary dial at 6 o'clock for the analog date and the moon-phase display.
    [Show full text]
  • 200612__Sabrina Weber Thesis
    LUXURY BRANDS AND CRM, MUTUALLY EXCLUSIVE? – DEVELOPING A CRM STRATEGY FOR PATEK PHILIPPE Sabrina Weber Project submitted as partial requirement for the conferral of the Master of Science in Business Administration Supervisor: Manuel Lopes da Costa, CEO HP Portugal April 2012 – Sabrina Weber Sabrina DEVELOPING A CRM STRATEGY FOR PATEK PHILIPPE PATEK FOR STRATEGY CRM A DEVELOPING LUXURYBRANDSMUTUALLY ANDCRM, EXCLUSIVE? Abstract in English Nowadays consumers get more demanding than ever before, marketing moves from the traditional transactional driven paradigm to the new, relational based paradigm. That is why customer relationship management (CRM) gains importance. Conventional brands were the first one’s that implement a CRM strategy in order to built strong long-life relationships with the most valuable customers. Luxury brands are just starting to realize the benefits of CRM. Whereas they are reluctant to use the usual and common techniques that have been proven successful for classic consumer goods because it involves the risk for luxury brands to loose its prestige status. Hence, luxury brands are facing the challenge to reconcile CRM and at the same time, keeping their luxury image. This work intents to answer the question if luxury brands and CRM are mutually exclusive or not based on the case study of developing a CRM strategy for the luxury brand watch company Patek Philippe. This case study is not conducted in cooperation with the company Patek Philippe that is why the type of case data used in this work is data available in the Internet, books, magazines or lectures. To answer the work’s question, theoretical knowledge gets applied to a real life situation by the reference of the case study of Patek Philippe.
    [Show full text]
  • Craftsmanship and Precision Competition” : an Eleventh Edition Under the Sign of Excellence
    Patek Philippe Geneva June 2021 The Patek Philippe “Craftsmanship and Precision Competition” : An eleventh edition under the sign of excellence To encourage promising young talent and help train the next generation, Patek Philippe created in 2010 a timing and adjusting watch competition intended for students of Swiss watchmaking schools. The 2020 edition was canceled due to the Covid-19 pandemic, but Patek Philippe wished to maintain the 2021 edition by adapting it to these exceptional circumstances, and thus pursue the fruitful partnership with Swiss watchmaking schools. A Patek Philippe timepiece is intended to be passed on from generation to generation. Similarly, the skills required to create such fine timepieces must also be carefully preserved and constantly fostered. As a guardian of this know-how, the Geneva Manufacture continuously trains watchmakers in its workshops. Since 2010, it has also been engaged in a long-term partnership with Swiss watchmaking schools. This is how the Patek Philippe “Craftsmanship and Precision Competition” was born. Designed to motivate the new generation, this watchmaking award stands out thanks to its educational approach. Offering a total immersion in the world of fine watchmaking, it aims to raise awareness among future experts of the concept of craftsmanship by offering them the unique opportunity to examine a high-end caliber, all of the components of which have been manufactured and finished with utmost care. An Adapted Contest Format In order to maintain the level of quality and expectations of the Competition, while respecting the sanitary procedures in force, it was agreed that the contestants would not go to Patek Philippe in Plan-les- Ouates, but rather that the organizing committee of the competition would visit the schools.
    [Show full text]