Recommended Reading Bloomberg Reports Patek Philippe ‘May Come Up For Sale’
A shock report by Bloomberg’s Corinne Gretler, which was distributed recently, refers to a report by examiners at Berenberg that Patek Philippe might be available to be purchased. Clearly, assuming valid, this would be the single biggest part of business news coming out of Switzerland’s watch industry in an incredibly, long time – Patek Philippe is possessed and coordinated by the Stern family, with the company’s leader, Thierry Stern, having lately assumed control over the reins from his dad Philippe. Theory about if and when the Stern family may sell has been a staple of inactive tattle in watch industry and watch aficionado circles for a long time, yet in the event that the company were to be sold, it would clearly command a premium (as do its watches) and would very likely drastically change the company’s apparent character among gatherers and enthusiasts.
The story states,”The 180-year-old Swiss watchmaker could bring 7 billion to 9 billion euros ($8 billion to $10 billion), investigators drove by Zuzanna Pusz wrote in a note. Patek Philippe has been possessed by the Stern family for right around a century, and Thierry Stern turned into the company’s director in 2009.”
Check out Bloomberg’s inclusion of the commercial capability of a Patek Philippe deal, here.