Patek Philippe's Mechanical Watchmaking Triumph Under Philippe Stern

Philippe Stern, who passed away in June, was the former proprietor of Patek Philippe and is recognized for his commitment to mechanical watchmaking during the 1970s quartz crisis. Hank Edelman, who has chaired the Henri Stern Watch Agency since 2006, reflects on Stern's modest nature and crucial choices. In 1980, Stern initiated the creation of the Caliber 89, a portable timepiece with 33 complications, which was unveiled in 1989 to celebrate the brand's 150th anniversary, signaling the start of the mechanical watch revival. In the mid-1980s, he centralized global advertising, engaging René Bittel to emphasize the watch itself over lifestyle. The 1996 Generations campaign transformed the narrative from value retention to value growth. Edelman recalls that prior to the 1989 surge, Patek Philippe faced challenges convincing retailers to stock complex watches; a time zone watch priced at $950 took three years to sell out. The company endured tough times thanks to strong relationships with around 145 American retailers, some with as few as three watches. The Stern family, originally dial makers, acquired the company in 1932 to avert its closure.