Patek Philippe to Host Its Largest Exhibit in NYC

The transcript discusses Patek Philippe's Grand Exhibition in New York, highlighting its significance in educating the public about Swiss watchmaking history. Thierry Stern, CEO of Patek Philippe, explains the importance of the American market and the brand's cautious approach to global market dynamics, including strategies in China and the impact of Brexit. The discussion also covers production and pricing strategies, emphasizing quality over quantity and the role of retailers in promoting the brand. The exhibition serves as a key event to showcase the brand's craftsmanship and heritage.

What is the primary goal of Patek Philippe's grand exhibition in New York?

• To compete with other watch brands

• To launch a new line of watches

• To educate the public about Swiss watchmaking history

• To sell watches to American customers

Why did Patek Philippe choose not to rush into the Chinese market?

• They had a limited number of pieces available

• They believed the American market was more important

• They wanted to focus on European markets first

• They were waiting for the Chinese economy to stabilize

How has Patek Philippe responded to the decline in Swiss watch exports?

• By outsourcing movements

• By lowering prices

• By reducing the number of pieces produced

• By increasing production

What percentage of Patek Philippe's production is dedicated to steel watches?

• 30%

• 40%

• 10%

• 20%

How does Patek Philippe ensure that their audience understands the quality of their watches?

• By advertising on television

• By producing more inexpensive timepieces

• Through retailer education and factory visits

• By offering discounts