The Brands Introduction ➢ Patek Philippe SA is a Swiss luxury watch manufacturer founded in 1839, located in Canton of Geneva and the Vallée de Joux. Since 1932, it has been owned by the Stern family in Switzerland. Patek Philippe isone of the oldest watch manufacturers in the world with an uninterrupted watchmaking history since founding. ➢ It designs and manufactures timepieces as well as movements, including some of the most complicated mechanical watches. The company maintains over 400 retail locations globally and over a dozen distribution centers across Asia, Europe, North America and Oceania, and in 2001 it opened the Patek Philippe Museum in Geneva. ➢ As of 2018, among the world's top ten most expensive watches ever sold at auctions, seven are Patek Philippe watches. In particular, Patek Philippe Henry Graves Supercomplication, the world's most complicated mechanical watch until 1989, currently holds the title of the most expensive watch ever sold at auction, reaching a final price of 24 million US dollars in Geneva on November 11, 2014. ➢ Along with his fellow Czech-born Polish partner Franciszek Czapek, Polish watchmaker Antoni Patek formed Patek, Czapek & Cie in 1839 in Geneva and started making pocket watches. They separated in April 1845 when their contract ended and on May 1, 1845, Czapek founded Czapek & Cie with a new partner, Juliusz Gruzewski. ➢ In 1851, the company's name was changed to Patek, Philippe & Cie. ➢ As of December 2018, among the world's top 10 most expensive watches ever sold at auctions, 7 are Patek Philippe watches, and among the top 58 most expensive watches sold at auction (over 2 million US dollars), 46 are Patek Philippe watches. S W Strength Weaknesses ➢ Established in 1851, the Patek Philippe brand is associated with history, tradition and values ➢ Due to its history, Patek Philippe has developed a reputation of being a trusted and reputed brand that makes high precision traditional watches ➢ There are only a few Patek Philippe Salons worldwide. This can be a ➢ The brand has several patents registered under its name since 1851 major drawback for the brand ➢ The brand is extremely popular with the watch collectors worldwide. ➢ The brand has limited presence across the developing economies where The brand recall is high and the brand positioning is clear there has been high growth in luxury product purchases ➢ Strong brand presence and legacy of Patek Philippe luxury watches ➢ More than 2000 people are employed with the luxury watch maker ➢ Patek Philippe brand has also been associated with the royal families in Europe.