Every minute repeater produced by Patek Philippe must pass a final test before leaving the factory: Thierry Stern It needs to be heard. The fourth-generation owner listens to the chime of the watch and either approves its sound or sends it back for adjustment—the same judgment his father and grandfather made before him.
Choosing his successor will be about more than just who gets the top job. Patek Philippe’s next president will help determine how many watches the company makes, which retailers sell them, and how far the company can grow without sacrificing quality. Stern, 55, Expected to step down within about ten years. This gave his sons Adrian and Tristan many years to strive for positions that only one man could hold.
two sons, a president
When Stern was in his early twenties sent to work German watch retailer Wempe in Frankfurt. While replacing the batteries in a Movado watch, he damaged several batteries by pressing too hard. Decades later, Stern made sure his sons learned the business from the ground up, too.
His eldest son Adrian followed a similar path. Adrian Stayed in Singapore for eight months First year working at Patek Philippe Join the company Full time in 2025, 24 years old. He initially told his father that he liked watches but was worried that working for Patek Philippe would destroy his father. The experience changed his mind.
Younger son Tristan takes a more technical, less public route. At the age of 16, he Enter watchmaking school of genevahis studies alternated with training in the Patek Philippe manufacturing factory. Now 20 years old, he is expected to Join the family business in the coming years. No timeline or expected role has been disclosed, and Tristan has not spoken publicly about succession. Stern acknowledges the difficulty of being both a father and a mentor.
Plans still depend on At least one son has proven willing and able Taking office as President. Stern has said that if neither succeeds him, he will retain family ownership while appointing a non-owner executive to take his place, effectively skipping a generation.
Patek Philippe has appointed a CEO outside the Stern family. Laurent BernasconiThe company veteran with about two decades of experience will succeed Claude Peny as CEO in July 2024. Thierry Stern remains president and the company is still owned by his family.
The question of succession, then, is who ultimately takes Stern’s place, not Bernasconi’s.
The billions in business they will inherit
Morgan Stanley and LuxeConsult estimate Patek Philippe production 2.5 billion Swiss francs, approximately US$3.2 billion, from Approximately 72,000 watches 2025. Revenue is expected to grow 9%, although Swiss watch exports fall Industry sales fell nearly 5% for the second consecutive year.
Managing scarcity will be part of the job. Waiting list for coveted models could be years longbut Stern refused to increase production just to meet demand, Threatening retailer to be arrested Supply known flippers. Since taking over as president in 2009, Stern Patek Philippe’s global retail network almost halvedfrom approximately 500 locations to 259. Stern argued that these restrictions protect exclusivity. On the secondary market, coveted Patek Philippe models are still available for immediate purchase.
Patek Philippe tested these limits with the Cubitus. Cubitus launches in 2024 Patek Philippe’s first new collection in 25 years Watch collectors were immediately divided. Its price raises another question: How much more will Patek Philippe buyers be willing to pay? Olivier Müller, founder of LuxeConsult Compared to Steel Cubitus, Launch price is approximately CHF 35,000, including the discontinued steel Nautilus Ref. 5711, which retails for 28,500 CHF. To Mueller, the gap is an example of the watch industry testing the limits of its pricing power.
Whoever succeeds Stern, Adrien or Tristan, will face the same question: How far can Patek Philippe grow without destroying the scarcity that its father worked so hard to maintain?
What happens to the spare?
The problem becomes more urgent Stern’s father, Philip, died on June 14. Philippe became Managing Director in 1977 and President in 1993, before passing the title to his son in 2009. Philippe’s tenure includes the launch of Nautilus, Caliber 89 and Patek Philippe Museum.
Adrien has completed his overseas internship and joined Patek Philippe full-time. Tristan does not yet hold an official role within the company.
Stern has about ten years to decide who will succeed him. A son could inherit the presidency—Stern’s approval of each bell represented ultimate authority. Although Stern said Both sons want to work at Patek Philippehe has not publicly explained whether his son, who has not become president, will stay with the company, retain an ownership interest or leave the family business entirely.
