For all its long and storied history, 1932 was an exceptionally pivotal year for Patek Philippe. Two significant events took place this year and, in the process, laid the foundations for the brand to become what it is today – one of the most esteemed and revered watchmakers in the world.
NEW DIRECTION
The first saw a change in ownership of the watchmaker that was founded in 1839. Having been buffeted by the successive shocks of World War I and the Great Depression, and facing the uncertainties of shrinking markets and growing debt, Patek Philippe needed some inspiration. The watchmaker turned to brothers Charles and Jean Stern, whose company, Fabrique de Cadrans Sterns Frères, had been a supplier of watch dials. After taking over in 1932, the Sterns embarked on a period of consolidation and, more importantly, modernisation and expansion, preparing Patek Philippe for its future of creating some of the world’s best watches.
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