The fourth generation head of Patek Philippe talks: family inheritance

As a luxury watch brand with a long history, Patek Philippe has always been operated as a family business. The fourth-generation chief executive (CEO) may focus on the following aspects when talking about family succession:

Inheritance of family values: For family businesses, the inheritance of values is crucial. Family members must adhere to and continue Patek Philippe’s core values, including the pursuit of quality, exquisite craftsmanship and traditional ingenuity.

Business expansion and development: The family successor needs to have a vision and strategy for the brand’s business expansion and development. They need to lead Patek Philippe to new markets and fields on the basis of maintaining brand uniqueness and traditional craftsmanship, so as to ensure the long-term sustainable development of the brand.

Construction of the management team: As the head of the family, the successor of the family needs to build a strong management team to support the company’s daily operations and strategic decisions. This includes recruiting and developing management personnel with extensive experience and expertise, and ensuring good communication and cooperation between them and family members.

Brand reputation and heritage: Family heirs must remain in awe of the brand’s reputation and heritage. They should pay attention to Patek Philippe’s reputation in the watch industry, and be committed to protecting and enhancing the brand’s image, while inheriting the brand’s history and stories.

Family Governance and Commitment: Family governance and family commitment issues need to be addressed by family successors. They should formulate a clear family governance structure to ensure collaboration and consensus among family members, while sticking to the family’s commitment to Patek Philippe and long-term development goals.

Family inheritance is a precious way of inheritance for a brand like Patek Philippe. It ensures the continuation of brand value and tradition, and injects the strength and sense of mission of the family into the future development of the brand. The family heir needs to be humble and hardworking in taking on this responsibility, and to put the long-term interests of the brand first.