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Watchflair · 30 October 2020, 03:00 AM

Is Patek pulling out of Tiffany & Co?

Thoughts? As news of the acquisition comes and further news of Kelly Yoch departing are these signs the relationship is coming to an end?

enjoythemusic · 30 October 2020, 03:49 AM

Highly doubt PP will move out, the profit center is too rich and service is very minimal retailer problem due to 2 year warranty. So high profit, low cost to retail to deal with.

PPcollector · 30 October 2020, 03:54 AM

LVMH will probably start to sell their own watches through Tiffany(ie. Bulgari, Hublot, Tag Heuer) which will market with Tiffany stamps. Not sure Patek will want their watches stamped along side those brands and displayed in same areas. Imagine Ferrari cars being sold at a Toyota/Lexus dealership...

BigAppleBill · 30 October 2020, 04:18 AM

If the Tiffany/Patek relationship is severed, the decision is more likely to be made by LVMH than by Patek. The current setup is a very good deal for Patek with a dedicated Patek salon inside Tiffany. That’s a lot of floor space for LVMH to be allocating to a competing brand. I would not be surprised to see LVMH reconfiguring the current Patek salon into a “Timepiece Salon” that features some of their high horology pieces from their family of brands. They could also revamp the Tiffany watch brand by using existing movements (e.g. Zenith) in new Tiffany branded offerings. Regardless there will be a lot of new potential synergies created by LVMH’s ownership, which obviously is among the reasons behind the purchase. At the very least I would be surprised if the Patek salon remained completely unchanged under LMVH’s ownership. Just my

Watchflair · 30 October 2020, 05:47 AM

Quote:

Originally Posted by BigAppleBill

If the Tiffany/Patek relationship is severed, the decision is more likely to be made by LVMH than by Patek. The current setup is a very good deal for Patek with a dedicated Patek salon inside Tiffany. That’s a lot of floor space for LVMH to be allocating to a competing brand. I would not be surprised to see LVMH reconfiguring the current Patek salon into a “Timepiece Salon” that features some of their high horology pieces from their family of brands. They could also revamp the Tiffany watch brand by using existing movements (e.g. Zenith) in new Tiffany branded offerings. Regardless there will be a lot of new potential synergies created by LVMH’s ownership, which obviously is among the reasons behind the purchase. At the very least I would be surprised if the Patek salon remained completely unchanged under LMVH’s ownership. Just my

Agreed -

Sent from my iPhone using Tapatalk

maecenas · 30 October 2020, 06:08 AM

I think there's room for a 3rd option, which is that I'm not sure the stamp will survive. I mean, Tiffany has been selling Patek continuously for 166 years... the are at the heart of the story of Patek in the US. I don't think either side has reason to give that up. However, that doesn't mean the arrangement with HSWA to do tons of work to stamp watches needs to continue.

I can picture the other comment above (bringing in more brands) happening as well, there's quite a bit of space in the salon that isn't used very effectively.

Watchflair · 30 October 2020, 06:19 AM

Quote:

Originally Posted by maecenas

I think there's room for a 3rd option, which is that I'm not sure the stamp will survive. I mean, Tiffany has been selling Patek continuously for 166 years... the are at the heart of the story of Patek in the US. I don't think either side has reason to give that up. However, that doesn't mean the arrangement with HSWA to do tons of work to stamp watches needs to continue.

I can picture the other comment above (bringing in more brands) happening as well, there's quite a bit of space in the salon that isn't used very effectively.

or perhaps is this just the story unfolding of how LVMH buys Patek Phillipe? There were rumors it was for sale and LVMH is a likely buyer....

ap1 · 30 October 2020, 06:56 AM

The stamps were crooked anyways....

maecenas · 30 October 2020, 07:38 AM

Quote:

Originally Posted by ap1

The stamps were crooked anyways....

You just wait until the day auctions are specifying "Rare 2˚ offset stamp"

PatekSF · 30 October 2020, 09:04 AM

Quote:

Originally Posted by ap1

The stamps were crooked anyways....

That’s exactly what I have observed, and I thought I was the only one.

Anyone else notice the same thing ... ?

scurfa · 31 October 2020, 07:29 PM

Quote:

Originally Posted by PatekSF

That’s exactly what I have observed, and I thought I was the only one.

Anyone else notice the same thing ... ?

Yes they all look crooked, personally I cannot stand the stamp, it spoils the look of the watches it is stamped on especially Patek

MCMartiny · 31 October 2020, 08:27 PM

Quote:

Originally Posted by scurfa

Yes they all look crooked, personally I cannot stand the stamp, it spoils the look of the watches it is stamped on especially Patek

Agree

1William · 31 October 2020, 09:24 PM

We shall see.

Ichiran · 31 October 2020, 09:49 PM

Looking forward to LV stamp instead of T stamp!

Etschell · 31 October 2020, 10:25 PM

Can you imagine lv strap patek. Oh my.

enjoythemusic · 31 October 2020, 11:21 PM

Quote:

Originally Posted by Ichiran

Looking forward to LV stamp instead of T stamp!

Maybe LVMH will buy 'em and greatly improve PP? This could be an excellent move and bring PP much-needed insight that LVMH can offer.

PPcollector · 31 October 2020, 11:27 PM

Quote:

Originally Posted by enjoythemusic

Maybe LVMH will buy 'em and greatly improve PP? This could be an excellent move and bring PP much-needed insight that LVMH can offer.

No way! Being a publicly traded company, LVMH would increase the production of all Patek SS sports watches and relegate the Patek brand to a money printing commodity on all things Nautilus or Aquanaut. Patek brand value itself will diminish!! I hope they DO NOT touch Patek at all...only insight they will bring to the Patek brand is STUPIDITY. Look at how they fumbled then went back begging with the Tiffany merger!!

brandrea · 31 October 2020, 11:53 PM

Quote:

Originally Posted by Etschell

Can you imagine lv strap patek. Oh my.

That’s funny

Uncle Wiggley · 31 October 2020, 11:54 PM

Why?

Uncle Wiggley · 31 October 2020, 11:55 PM

Probably don't need Tiffany

Amiricanmade · 2 November 2020, 02:52 PM

Quote:

Originally Posted by scurfa

Yes they all look crooked, personally I cannot stand the stamp, it spoils the look of the watches it is stamped on especially Patek

dont be salty

GreenLantern · 3 November 2020, 04:05 PM

Quote:

Originally Posted by Uncle Wiggley

Probably don't need Tiffany

Actually, you'd be surprised how many high value pieces Patek sells to long term Tiffany customers who splurge on expensive diamonds each year.

scurfa · 3 November 2020, 05:42 PM

Quote:

Originally Posted by Amiricanmade

dont be salty

Twit?

CoyoteCreekCir · 4 November 2020, 05:42 AM

Kelly Yoch is a clerk who oversees the Patek department at Tiffany. The media is overplaying her role. Why I said "clerk" but not salesperson, because those watches sell themselves. Tell me, when was the last time she has to spend an hour to convince someone to purchase a Tiffany stamp Nautilus or Aquanaut? Her job is to take that credit card and ring it up. Let's put it this way....Imagine if there is only one realtor in New York. What is gonna happened if you wanted to sell or buy a property in New York? I have been in high end retail for the past 27 years so I know. She would jump when someone offers her more money and benefits. Someone will replace her and this person will hold the key to that safe. And if you wanted to purchase a Patek Tiffany then you will have to come to this person. That's about it. Now, the relationship between Patek and Tiffany all depends on Thierry Stern.

GreenLantern · 4 November 2020, 03:42 PM

Quote:

Originally Posted by CoyoteCreekCir

...the relationship between Patek and Tiffany all depends on Thierry Stern.

charlysha · 4 November 2020, 10:38 PM

I really don't picture LV and their way of doing business hosting a brand from outside of the group on a permanent basis, short partnership could happen however

View Poll Results: Is Patek Pulling Out Of Tiffany & CO?
They are leaving	81	64.80%
They are staying	44	35.20%
Voters: 125. You may not vote on this poll

30 October 2020, 03:00 AM	#1
Watchflair 2024 ROLEX DATE-JUST41 Pledge Member Join Date: May 2012 Real Name: Jim Location: Westchester NY Watch: 116500 116518LN Posts: 5,873	Is Patek pulling out of Tiffany & Co? Is Patek pulling out of Tiffany & Co? Thoughts? As news of the acquisition comes and further news of Kelly Yoch departing are these signs the relationship is coming to an end? __________________ Remember what matters. Value everyday

30 October 2020, 03:49 AM	#2
enjoythemusic 2024 Pledge Member Join Date: Nov 2012 Real Name: Steven Location: Glocal Posts: 19,406	Highly doubt PP will move out, the profit center is too rich and service is very minimal retailer problem due to 2 year warranty. So high profit, low cost to retail to deal with. __________________ __________________ “Life should not be a journey to the grave with the intention of arriving safely in a pretty and well preserved body, but rather to skid in broadside in a cloud of smoke, thoroughly used up, totally worn out, and loudly proclaiming 'Wow! What a Ride!'” -- Hunter S. Thompson Sent from my Etch A Sketch using String Theory.

31 October 2020, 10:25 PM	#15
Etschell "TRF" Member Join Date: Dec 2013 Location: FL Watch: platinum sub Posts: 15,884	Can you imagine lv strap patek. Oh my. __________________ If you wind it, they will run. 25 or 6 to 4.

30 October 2020, 03:54 AM	#3
PPcollector "TRF" Member Join Date: Oct 2019 Location: World of Patek Posts: 304	LVMH will probably start to sell their own watches through Tiffany(ie. Bulgari, Hublot, Tag Heuer) which will market with Tiffany stamps. Not sure Patek will want their watches stamped along side those brands and displayed in same areas. Imagine Ferrari cars being sold at a Toyota/Lexus dealership...

30 October 2020, 04:18 AM	#4
BigAppleBill "TRF" Member Join Date: Aug 2019 Real Name: Bill Location: NYC Posts: 1,735	If the Tiffany/Patek relationship is severed, the decision is more likely to be made by LVMH than by Patek. The current setup is a very good deal for Patek with a dedicated Patek salon inside Tiffany. That’s a lot of floor space for LVMH to be allocating to a competing brand. I would not be surprised to see LVMH reconfiguring the current Patek salon into a “Timepiece Salon” that features some of their high horology pieces from their family of brands. They could also revamp the Tiffany watch brand by using existing movements (e.g. Zenith) in new Tiffany branded offerings. Regardless there will be a lot of new potential synergies created by LVMH’s ownership, which obviously is among the reasons behind the purchase. At the very least I would be surprised if the Patek salon remained completely unchanged under LMVH’s ownership. Just my

30 October 2020, 06:08 AM	#6
maecenas "TRF" Member Join Date: Jun 2016 Location: California Posts: 96	I think there's room for a 3rd option, which is that I'm not sure the stamp will survive. I mean, Tiffany has been selling Patek continuously for 166 years... the are at the heart of the story of Patek in the US. I don't think either side has reason to give that up. However, that doesn't mean the arrangement with HSWA to do tons of work to stamp watches needs to continue. I can picture the other comment above (bringing in more brands) happening as well, there's quite a bit of space in the salon that isn't used very effectively.

30 October 2020, 06:56 AM	#8
ap1 2024 Pledge Member Join Date: Mar 2013 Location: usa Posts: 19,035	The stamps were crooked anyways....

31 October 2020, 09:24 PM	#13
1William 2024 ROLEX DATEJUST41 Pledge Member Join Date: Nov 2010 Location: North Carolina Watch: Rolex/Others Posts: 44,671	We shall see.

31 October 2020, 09:49 PM	#14
Ichiran 2024 Pledge Member Join Date: Jan 2018 Real Name: Michael Location: Dotonbori Watch: Mostly blue dials Posts: 7,598	Looking forward to LV stamp instead of T stamp!

31 October 2020, 11:54 PM	#19
Uncle Wiggley Banned Join Date: Oct 2020 Location: Houston Posts: 7	Why?

31 October 2020, 11:55 PM	#20
Uncle Wiggley Banned Join Date: Oct 2020 Location: Houston Posts: 7	Probably don't need Tiffany

4 November 2020, 05:42 AM	#24
CoyoteCreekCir "TRF" Member Join Date: Mar 2019 Location: San Jose, CA Posts: 24	Kelly Yoch is a clerk who oversees the Patek department at Tiffany. The media is overplaying her role. Why I said "clerk" but not salesperson, because those watches sell themselves. Tell me, when was the last time she has to spend an hour to convince someone to purchase a Tiffany stamp Nautilus or Aquanaut? Her job is to take that credit card and ring it up. Let's put it this way....Imagine if there is only one realtor in New York. What is gonna happened if you wanted to sell or buy a property in New York? I have been in high end retail for the past 27 years so I know. She would jump when someone offers her more money and benefits. Someone will replace her and this person will hold the key to that safe. And if you wanted to purchase a Patek Tiffany then you will have to come to this person. That's about it. Now, the relationship between Patek and Tiffany all depends on Thierry Stern.

4 November 2020, 10:38 PM	#26
charlysha "TRF" Member Join Date: May 2018 Location: Shanghai Posts: 26	I really don't picture LV and their way of doing business hosting a brand from outside of the group on a permanent basis, short partnership could happen however

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