Patek Philippe President on Rare Watches, U.S. Market

The video discusses the Paddick Philippe exhibition in New York, highlighting its significance and the exclusive watches made for the US market. It covers the involvement of Geneva artisans and the challenges of halting production for the exhibition. The video also explores market trends in the luxury watch industry, particularly in the US and China, and the brand's commitment to remaining independent amidst industry consolidation.

What is unique about the Patek Philippe exhibition in New York?

• It features over 100 museum pieces, the largest collection ever taken out of Geneva.

• It is the smallest exhibition space ever used by the brand.

• It is the first time the brand is showcasing in the US.

• It only features digital displays of watches.

Why is the US market significant for Patek Philippe?

• The US market is declining rapidly.

• The brand was founded in the US.

• It is the largest market for luxury watches.

• It accounts for 15% of the brand's business.

What is Patek Philippe's strategy regarding the Chinese market?

• They are rapidly expanding their presence in China.

• They are taking a cautious, step-by-step approach.

• They have decided not to enter the Chinese market.

• They are moving all their production to China.

What challenge does Patek Philippe face as an independent brand?

• Competing with larger groups that own multiple brands.

• Lack of skilled artisans.

• Declining interest in luxury watches.

• High production costs in Geneva.

What is the future outlook for the Swiss watch industry according to the transcript?

• The industry will shift entirely to digital watches.

• There will be fewer brands as some will disappear.

• The Swiss watch industry will merge into one large group.

• All brands will remain independent.