Swiss Luxury Watchmaker Patek Philippe President China Mainland Monthly Sales Growth

In recent times, the price of luxury goods groups has declined due to the slowdown in China's luxury consumer spending, China's attack on purchasing agents, and Sino US trade war.

The latest figures show that Swiss watches exports fell 6.9% in September, down for the first time in a year and a half, which has deepened concerns about the Swiss high-end watch industry, especially independent brands.

A few days ago, Swiss luxury watchmakers

(Patek Philippe) CEO Thierry Stern said that demand for Patek Philippe brand in all global markets is on the rise.

"This year, all of our markets are doing well and we are satisfied.

The exhibition held in the United States has promoted the growth of brand sales, and Europe has also achieved good results.

Thierry Stern pointed out that Chinese consumers are more likely to buy goods in China for fear of stricter border controls.

"Mainland China's demand is rising steadily, and sales are increasing every month.

Because of higher taxes and fees, the core products are the products sold. "

The new Geneva production facility under construction has given Thierry Stern more confidence. The 550 million Swiss Franc factory will be put into operation next year, and will be responsible for production, service and staff training activities.

The brand is also actively expanding the female market.

The near future,

The introduction of a new Twenty~4 series mechanical watches.

The series was born in 1999 and is the first female product line of the brand.

In 2017, Thierry Stern has said that the ratio of brand to male and female is 7:3, and the future plan is 6:4, which improves the proportion of women's watches.

The watch industry is undergoing a period of rapid change. The independent stores of electric business and brand have begun to replace traditional retailers, and many brands have entered the secondary market.

Audemars Piguet, a competitor, says it plans to fully control the distribution channels of its luxury watches over the next three to five years, cutting off cooperation with third multi brand watch retailers to boost sales growth.

(see: how can the luxury watch brand break through online?) read AP Audemars Pigeut's innovative marketing plan carefully.

But for Patek Philippe, the brand has no intention of changing the existing sales model. It will not expand the electricity supplier business, nor will it separate from the existing distributors.

Thierry Stern said, "our expertise is to produce watches and have no ambition to control global distribution channels."

Thierry Stern revealed that the company now has 2450 employees, and this number continues to grow.

At the same time, the company will increase its output by annual growth rate of 1 to 3%, and it is expected to produce 60 thousand watches in 2018.

Patek Philippe is one of the few Swiss watches brands that remain independent in the Swiss luxury watch industry dominated by Swatch, Richemont and other multi brand groups.