‘You have to go to the limit, and a little bit beyond’, says the man behind Patek Philippe

GENEVA – Mr Thierry Stern does not speak like the fourth-generation steward of one of watchmaking’s most revered houses. The president of Patek Philippe sounds, instead, like a dyed-in-the-wool watch obsessive.

And that, he will tell you more than once, is exactly how it should be.

“If you do not like watches, don’t expect to be able to do this job,” he says during an exclusive interview with The Straits Times at the Watches and Wonders 2026 in Geneva.

“You can be as smart as you want, but especially in watches, it’s not going to work. The client knows a lot. He’s wearing it on his wrist all the time. He will feel it if you don’t enjoy what you are doing.”

That is why, the 55-year-old says, passion at Patek Philippe is less a slogan than a basic requirement for the job.

In 2026, the brand is marking the 50th anniversary of its most famous model, the Nautilus. When it first appeared in 1976, with its porthole-inspired case and integrated bracelet, the Gerald Genta design scandalised traditionalists who felt it was too industrial, too brash, too un-Patek.

Today, it is one of the most coveted watches on the planet, with years-long waiting lists and auction prices that routinely defy logic.

Mr Stern chuckles when he recalls the fuss when the watch made its debut.

“When the Nautilus was launched, I was six. Everybody who was complaining in 1976 – and believe me, there were many – is long gone,” he quips.

To mark the milestone, the maison has unveiled three limited-edition Nautilus models – including white gold and platinum references – along with a whimsical desk clock inspired by the watch. But Mr Stern is quick to downplay the fireworks.

“I think everybody expected me to come with a tourbillon, or whatever,” he says, referring to previous blockbuster limited series. “We have to watch out not to push too far. So, I said: ‘Let’s stay humble.’ For me, the Nautilus is an hour-and-minute watch. That’s really its DNA.”

The models feature ultra-thin 6.9mm cases and are powered by the historic micro-rotor Calibre 240. The super ergonomic case and bracelet, he says proudly, took a few years to get right.

He learnt early that taste and time are fickle companions.

When he was a young executive, he travelled constantly with his father Philippe Stern, who was then running the firm. The older man had one piece of advice: Listen.

“He said: ‘You have to listen to people. You have to travel to understand the needs of the final client, of the retailer.’ Really, you need to be everywhere. That’s where you learn the most.”

Mr Thierry Stern often reaches for sailing metaphors. In his telling, Patek Philippe – one of the five largest Swiss luxury watch brands, alongside Rolex, Cartier, Audemars Piguet and Omega – is a vessel that cannot afford to stand still.

“If I don’t take risks, I’m not evolving. There is no way I can keep Patek Philippe at the same level over the years if we don’t move. We are sailing. We should never stop,” he says.

Treading the fine line

But the risks are measured, not impulsive.

He points to the Patek Philippe Aquanaut, launched in the late 1990s as a younger, sportier foil to the Patek Philippe Nautilus. Retailers then were sceptical.

“I remember one retailer from Zurich telling me: ‘I will never order an Aquanaut. None of my clients will buy it.’ Two years later, he was asking for more.”

As for knowing when to push and when to hold back, Mr Stern shrugs it off.

“There is no book that teaches you this. It just takes time. And courage. You have to go to the limit – and a little beyond – because that’s how each generation leaves its mark.”

He adds, almost as a warning: “But not too far. Otherwise, you’re off target. It’s a very fine line.”

Sometimes, the boldest move is restraint. When he discontinued the blue-dial Patek Philippe Nautilus Ref. 5711/1A-010, it sent shockwaves through the industry. The decision, he says, was his alone.

Behind it was careful planning: the movement was needed elsewhere and its successor, the Patek Philippe Nautilus Ref. 5811, was already in the pipeline.

At times, he pushes through internal resistance. He cites 2024’s Patek Philippe Cubitus – particularly the decision to square the case – as a tough sell within the company.

“Really, I was alone,” he says. “It was a shock for everybody. But it was the right move.”

Still, nothing is decided lightly. “It’s like a chess game,” he says. “I’m always thinking way in advance.”

The head honcho’s face softens when the subject turns to Rare Handcrafts – the small family of Patek Philippe watches and clocks made using labour-intensive traditional crafts like enamel painting, engraving and wood marquetry.

From a wildly modern lava-inspired dome table clock to a delicate piece that looks like a Chinese ink painting shrunk onto enamel, these are, in his words, his “holidays”.

“I will never do this type of watch for business. Maybe they are 1 per cent of the business. I don’t care. I care about the beauty.”

His real fear here is not that there are too few customers, but that there might one day be too many cheap imitations.

“I’m always afraid that other brands rush in because they think: ‘Ah, it works, it gives you credibility’,” he says. “They think they will make a lot of money, then they realise it is very expensive and you cannot do many. So, they do it with bad quality. That can kill the beauty.”

To guard against that, he has pushed to make Rare Handcrafts more visible. Once, these pieces were reserved for a small circle. Now, they are highlighted in annual exhibitions and featured prominently on the brand’s website.

“I said I would like everybody to be able to look at them because, otherwise, it’s not fair,” he adds.

The payoff is not just admiration, but also aspiration. Young people are writing in asking if they can be trained in marquetry or enamelling.

For him, that is the real dividend. “You have to keep the knowledge,” he says simply. 

Growing the passion

For someone who speaks so often about passion, Mr Stern is pragmatic about where it comes from. “Inborn? Maybe for some,” he says. “But for most of us, you have to cultivate it.”

He points to his sons – Adrien and Tristan, both in their 20s – as proof. There was never any pressure to join Patek Philippe.

“I told them: ‘If you don’t want to work here, it’s fine. But you have to do something. We gave you a good education, you can’t just stay at home. And don’t think we won’t love you if you choose something else.’ My priority is my kids.”

Adrien was initially unsure. “He said: ‘Papa, I love this, but I don’t know if I want to work at Patek. School is fun. When I start to work, the fun is over.’”

But a year after joining the company, including an eight-month stint in Singapore, he changed his mind.

“He came back and said, ‘Papa, I was totally wrong.’”

Mr Stern sees that shift as crucial, a passion that extends beyond the product to the entire chain, from workshop to retailer.

He remains exacting on the watches, but draws a line when it comes to mentorship.

“It’s difficult to be both father and mentor,” he says. “For creation, yes, I guide him. But otherwise, he needs someone else. It’s not easy being the son of the president.”

Meanwhile, he has no intention of hanging on to the job until he is 80.

“I’ve seen that many times, people not willing to go away because they don’t know what to do,” he says. “I’m not like that. I enjoy life too.”

His plan is to step back gradually: hand over responsibilities case by case, stay involved where his experience is needed and let the next generation grow into the role.

With an iPad and a mobile phone, he adds, he can be anywhere in the world and still help if needed.

Mr Stern has seen his share of crises: the dot.com bust, the 2009 financial crisis and now a world that seems permanently jittery.

His response is not to predict the future, but to stay light on his feet.

“Luckily, we don’t produce that many watches,” he says. “Patek Philippe makes about 75,000 pieces a year – a fraction of what many big brands churn out. At that level, I can handle it. If I were producing 1.2 million, it would be more complicated.”

Since demand far exceeds supply, he can shift allocation between regions when necessary. If one part of the world slows down, he moves watches elsewhere.

“Is it a good strategy? No,” he says with a small shrug. “But we have to sell.”

What he really worries about is not gold prices or currency swings. “We did all the graphs, it’s better to buy gold when you need it,” he says.

But the one thing money cannot easily buy back, he says, is people. “What I’m not willing to lose is the know-how. And the know-how is people.”

Beyond that, he takes some comfort in the fact that nobody has a magic formula.

He says: “The chance is that there is not another brand with a better solution. We are all in the same boat. We’ll deal with it step by step. Create nice watches. That is the most important.”