Why Did Patek Philippe Choose To Hold The Watch Art Grand Exhibition In Singapore? President ...

Singapore is the regional hub for Patek Philippe, admits its president and fourth-generation scion Thierry Stern He explains that the entire Southeast Asian region is equally important for the brand and deserves an exhibition the scale of the Patek Philippe Watch Art Grand Exhibition Singapore 2019 held at Marina Bay Sands Stern also took time off while he was in town for the exhibition to sit down with Singapore Tatler to chat about different topics including business strategy, succession planning and of course, watches.

"The Patek Philippe Watch Art Grand Exhibition Singapore 2019 is an important exhibition in educating people more about the brand and what we stand for I met many collectors on the first day of the exhibition, and some of them know even more about the brand than I do There is a genuine interest in the brand, and for some of these collectors, they don't have the chance to fly to Geneva to visit our museum.

That's why Geneva has to come to Singapore." "We are not focused on selling steel watches It is the opposite The demand for sporty watches has always been there, and it makes sense to make steel sporty watches.

So we're not following trends We are just following the DNA of the brand-we sell watches in gold, platinum and also in steel And you know, once you start with a steel version, it's hard to sell the same watch in gold.

I wouldn't do that." "We're open to doing business with different people, so long as the parties involved are open to our rules Small family businesses are good but the big retail groups also have great stores and capable people to sell the watches But we look at long-term relationships and trust in the other party is the most important.

My dad was very sad when contracts were introduced To him, doing business was just about shaking hands and having mutual trust There was no need for paper contracts.

We really cherish relationships." "I've been talking about legacy to my two sons I made the decision to join the family business, and I accepted it If they are willing to take over the business, that's great.

But if they aren't, I'm not going to force them I know in Asia, sometimes the culture is such that the children don't really have a choice In Europe, the sentiments are similar-the parents' views are strong but they will not force the children to accept.

This way, the business will not flourish If you ask me to choose between Patek Philippe and my children, the choice is simple I'm happy to see my kids enjoy themselves and do what they like". Source