Fortune Article

[FlyinM3]

Nice PP article in this month's Fortune500 edition mag.

[Toony]

http://fortune.com/2014/06/02/patek-philippe-watch/

Thanks for letting us know about this article. Here is the link for it online.

[iazrollie]

Wow. I wonder what the margin is on that $1.2B revenue number??

[77T]

They should be grossing almost $680 million before taxes, sales, G&A.

But private family firms often lower reported net profit using trusts to reduce tax so very hard to even guess.

[CWIN]

Nice article. Thanks for sharing!

[HL65]

Great article...Thanks for sharing!

[unknown]

if they talk about 1.400.000 Rolexes per year I wonder how much more wrong info this article contains …

[locutus49]

Thanks for the article. If I win the lotto I will treat myself to a PP minute repeater. I saw a fairly simple one on the internet for around $500,000.

[Stuxnet]

A great company making a superior product.

I just hope Mr. Stern doesn't sell the company. He is 44. His kids are 10 and 8.

A lot of the other watchmakers sold out. Other so called private niche firms sold out too. Huntsman, John Lobb, Church's etc. etc. The list goes on. Look at all the brands owned by LVMH, Richmont and Kering. Hermes is a publicly traded company and the Dumas family are fighting LVMH to retain ownership and control.

I sincerely hope it doesn't happen. But being a rational economic actor, I wouldn't bet against it.

[carnegie]

I highly doubt it will ever happen. Sterns take a lot of pride that it is a several generations family owned business. Patek is their baby and it is not all about money but obviously about passion and devotion to the family traditions from 1932! That makes Patek a Patek. I met Sterns and can attest that passion and dedication to those family values are always in the first place. For the same reason Apple became Apple.

[stockjock1975]

My concern is with the challenge of finding watchmakers committed to the lengthy training process. With service times growing in excess of 6 months or more for the most basic Patek, that number can increase pretty dramatically if attracting human talent to the industry continues be an issue.

[texex91]

Nice read!

[BlakeC]

Thanks for sharing!