Patek Philippe is a Swiss manufacturer of luxury watches. It was founded in 1839 by Antoine Norbert de Patek and Adrien Phillipe Patek. The company has the largest market share of any watch manufacturer in the world, with a 12% share of global watch sales. It produces over 50,000 watches each year, with an average price of between $ 25,000 and $ 30,000 each. It is the only Swiss watch manufacturer with a global marketing strategy.
Patek Philippe has been described as “the quintessential European old world producer” and his success can be attributed to keeping quality above quantity. The company produces limited editions of timepieces with deep blue dials in honor of the Hungarian origin of its founder Antoine Norbert de Patek. He also uses rose or yellow gold in some models as these metals are more difficult to work with but add value by creating luxury watches that “have an antique feel”.
The brand was among the top ten most prestigious brands in the world according to the Interbrand Best Global Brands Report 2017. In addition, it had one of the highest levels of customer satisfaction – with a Net Promoter Score of 69 according to the 2015-2017 survey by Satmetrix Solutions® Customer Experience Monitoring, a solution provider for business leaders who want to measure success in improving customer experiences by understanding engaging content created on behalf of Patek Philippe. In addition, it was among the most loved luxury brands on Facebook in 2017.
Patek Philippe’s biggest competitors are Rolex, Omega and Cartier.
This Swiss company offers all kinds of watches, from basic sports models to complex horological masterpieces that cost up to six figures. A lot has changed at Patek over the years: production increased after World War II, thanks in part to association with American soldiers returning home; in recent decades, the company has grown as much a jeweler as it has made timepieces, expanding its business to jewelry that includes vintage items such as diamond rings and gold necklaces, to Swarovski crystal memorial figures honoring past achievements of famous people ( such as Annie Leibovitz).