Interview: Patek's Thierry Stern On Green Dials, Smart Watches, And Running The Family Business

Last month, HODINKEE caught up with Patek Philippe's Thierry Stern, who talked to us remotely from Geneva about where Patek has been, where it is now, and where it's going in the future. When you run a company that makes Internet-breaking watches like the Nautilus, every take is a hot take, but the hottest take from our conversation was that while the 5711 has loomed large to the watch world in the middle of the pandemic, it's a big tree in the middle of a much bigger forest. Why is the Nautilus so desirable, even today? I think we should remember it was the first high-end watch made of steel, that’s why it has such a strong, how do I say it, maternity. When my father started to launch the piece, everyone told him he was crazy. You don’t put such a beautiful movement in a steel case. So that was the first thing. It became, at that time, something quite unique. I think secondly, the design has always been beautiful. It’s an easy watch to wear, very supple, the bracelet is fantastic. The design was really successful. It made the watch iconic. Some designs will always be nice – look at the car industry. You can see that with the DB5 from Aston Martin; it will always be beautiful. And that’s I think the same with the Nautilus. It’s one of a kind. But it’s not because we pushed it, it’s because the client really loved the watch. Some brands have experimented with connected watches. Patek has not. Why? It’s not our field. Can you imagine? Am I going to fight against Apple, which has nearly the same budget as I do in R&D, except they have five more zeros at the end of it? I can’t compete with that. It’s another way to fabricate watches. We have always been dedicated to mechanical watches, this is what we know and what we enjoy. Working on something electronic may be fun, but it’s not my business. You have to give it to the pro, and I’m not a pro in this type of technology. Why the last victory lap for the 5711 with a green dial? Well, for me, it was more of a way to say thank you to all of you who have been supporting us with the Nautilus. It was my duty to do it. I wanted to do something nice. But it’s not the end of the Nautilus, it’s just the end of the 5711. I didn’t say it was the last round, by the way. There is another bomb coming out...maybe. Believe me, you will remember the maybe. What's the deal with a green dial? It’s a nice color, we all agree. I’m also looking at trends , fashion, what is nice, and we all knew green is a nice color. I like it because it is also a simple one, easy to wear. For me, it’s a choice. We had about five different colors, and this one was very nice with the steel, that’s how I decided. You do it from prototypes, you try and you look at it, and you have to pick one color. I think people trust me for the choice. I always ask "What should I do?" And the answer is always, "Mr. Stern, we trust you, do what you believe is right." No, I don't want to die. I have to adapt myself. Thierry stern How did the Nautilus come to be an icon for Patek? You were known for completely different watches before 1976. It’s a bit what I said before – it’s an easy watch to wear. You can wear it with jeans, when you go to the pool, or with a beautiful tuxedo. That’s what made it so iconic. You can be anywhere in the world, the watch would suit you. You cannot do that with a minute repeater or a Calatrava. You cannot wear everything with everything. Nautilus is one of a kind, but Aquanaut is not far behind. Now it is up to me to make some evolution. There are many fields where we can go. One of my mentors told me, “good luck Mr. Stern, everything has been done.” That shocked me. There are always many ideas. I think there is space in every field, from the classical one, to the sports one, to the ladies' line. Patek Philippe is not only dedicated to doing traditional Calatrava watches. This is not what my sons expect. There is a new generation…things are always evolving. To stay always traditional? No, I don’t want to die. I have to take the best of the traditional and the future and see if they match to make a beautiful watch. If you are too traditional, look at Blancpain. They tried to stay traditional and it didn’t work. They have to evolve and they are proposing many new things … maybe too far. But it’s a good example. It’s up to you to know where is the limit. Do you want to have a high-end watch with a good case, or maybe a fashion watch that you can sell like crazy for one year? This is not ideal. The new-for-2021 ref. 6119 Calatrava , with the new caliber 30-255 For whom are you making watches today? We have several groups of customers. Some are more, I would say, fashion people. They buy the brand because it is known. Some others are more crazy freaks who know everything; they know the quality of the movement, the design of every part is something quite unique. We have maybe four to five groups of different people, starting from the first watch you will buy. If you only buy one it will be the Nautilus, just to show off. But then you also have serious collectors who start with a Calatrava, but who have evolved from that. It is up to us to know how to talk to all these people. Are things ever going "back to normal?" When you have a family-owned business, people are waiting to see you. They need to see you; you are part of the brand. So yes, you do have to come back to that and we will as soon as possible. I’m also keen to travel again, to meet all the retailers. It’s not cool to talk remotely like this. I prefer to see them. Okay, we have to receive the vaccine, maybe have a vaccine passport. It will happen, we will travel again, we will see people again. It is a must. Physical trade shows, if we can do it in Geneva, we will, it’s something we are working on. How, it’s difficult to say. As you can imagine it is not easy to do, all of us together … but we are all keen to do it. It will depend on what’s going to happen but the idea is for sure to have a show. I think it is important for people to see things. Now the target is Geneva, if it doesn’t work, we may have to come up with another idea. Two or three events worldwide, Asia, America, Europe. I think all the brands have a plan B and a Plan C. All my career, I’ve been thinking like this. It’s a chess game. When you are dead, what you make will still be there. Thierry stern Introduced in April 2021, the ref. 5236 in-line perpetual calendar. You are in charge of Patek's legacy, but also a family legacy. For sure, it’s something unique. I grew up in the middle of passionate people. When I was a kid, I was with all those guys from Vacheron, Piaget, Chopard, they were all friends, having dinner on Sundays. That’s when you appreciate the beauty of the company; you don’t just think about a nice salary. You are really the best and you have a responsibility to motivate. First to motivate your client, but also to motivate a new generation of watchmakers. They have to work for the future. And to me this is the most important. To motivate a new generation. I don’t have chips, or quartz … okay, we have a quartz movement, but we are working mostly with something mechanical, that we can disassemble. We do understand that. And as a kid, I remember myself, I was always working on my bikes, and it’s the same. We are still preserving a certain manner of mechanics. And that’s what I like. And to create then a beautiful case – for me, it’s a dream. It’s difficult to explain why. But I enjoy that. Starting from scratch and being able to create something that is part of history. When you are dead, what you made will still be there. It’s a nice memory. I’m making something nice for people to wear: A souvenir of a birthday, a wedding, graduation. That’s what I like about Patek, and that’s what I try to transmit. The feeling that you are making something useful and nice for the world. This interview has been edited and condensed.For Patek, history isn't just something you remember – it's something you make.