Patek Philippe’s Thierry Stern On The New Ref. 5711/1A

Thierry Stern, CEO of Patek Philippe.

Following the blockbuster launch of the green Nautilus Ref. 5711/1A-014 last week, Patek Philippe quietly followed up today with one of its most groundbreaking works of haute horology in recent years, an in-line Perpetual Calendar Ref. 5236P-001. In honor of the occasion, Patek Philippe President Thierry Stern sat down (virtually) with a small group of journalists to tell us what he loves about it, why he cancelled the blue-dialed Ref. 5711, and what his sons chose as their first Patek Philippe watches.

The new Patek Philippe Perpetual Calendar Ref. 5236P-001, with in-line calendar display.

Patek Philippe also introduced three other new watches today: a Calatrava Ref. 4947/1A-001 annual calendar, the brand’s first annual calendar in steel ($47,904); a 35mm ladies’ Calatrava Ref. 4997/200G-001 ($36,667) with a diamond bezel and guilloché lacquered dial; and a new 39mm men’s Calatrava, with Clous de Paris bezel ($29,570). Here are some of Thierry Stern’s comments:

On replacing the Patek Philippe Nautilus 5711/1A with the new green Ref. 5711/1A-014:

The new green deal: Patek Philippe Nautilus Ref. 5711/1A-014.

“It was a way of saying goodbye to the 5711/1A. I don’t know why the Nautilus became so famous. It’s difficult to analyze. But to me it was too dangerous to focus so much on one watch. I love the Nautilus. We all love the Nautilus, but it is just one piece from the collection. If I only focus on one model, I would be dead in five years. Not just commercially but also intellectually. I need to create something new all the time. I need to surprise our clients. We have 190 models at Patek Philippe. The strategy has always been the same. We will raise up all the models together as a whole. We may, along the way, adapt the color, the size – our kids may not have the same taste as we do, and it is my duty to appeal to the next generation, but it’s not just about fashion or trend. It’s about the quality that is inside those watches. The workmanship, the movement, the precision. We will follow fashion but if, for example, you are expecting a plastic watch from Patek Philippe, then no, I would not do it.”

Patek Philippe Nautilus with baguette diamonds in steel.

“The baguette diamond version (Ref. 5711/1300-001) was a last minute decision, and I think it’s quite interesting because we rarely set baguette diamonds in steel – the only other steel watch set with diamonds is in our Twenty-4 collection. It is just as surprising as it was to put a mechanical movement in a steel watch when the Nautilus first came out.”

The Patek Philippe Calatrava Ref. 4947/1A-001 annual calendar.

On the pandemic

“Patek Philippe had to shut down production for two months, but it did not affect us to a great degree. It was a question of making a decision about what to launch at what time during the pandemic, and what models to keep for the next year. We held back some of the new models we had originally planned to introduce in 2020. That’s one of the reasons we launched so many in 2021 – and we will be able to deliver all of them this year. Our clients stuck with us during the pandemic. They continued to call us, and our retailers were able to deliver the watches they wanted. For brands that work more with the tourist clientele, the pandemic was a catastrophe, but it didn’t affect Patek very much.”

The new Patek Philippe ladies’ Calatrava Ref. 4997/200G-001.

On women’s watches

“Asia was the first market to demand more complicated ladies’ watches from Patek Philippe, and now you can see this demand worldwide, especially in Italy. Women today love wearing men’s watches. I see a lot of them wearing Rolex Daytonas for example. They also like complications. The challenge for us as a watchmaker is to reduce the size of a complicated movement to make it the right size for a ladies’ wrist. The demand is there and we will continue to work on movements for women. But we will also have other pieces for women, including the Twenty-4, some of which are quartz.”

On steel, as a draw for younger buyers

Patek Philippe Ref. 6119 Calatrava, with Clous de Paris bezel.

“I’m not sure stainless steel is what attracts the younger generation to Patek Philippe, to be frank. I think it’s the design, the movement and the precision. Material, at our level, is secondary. The new generation who will buy Patek Philippe, I would say, also have the power to buy white gold, rose gold or platinum. We are willing to produce a certain number of steel watches, but it will always be less than 50% of our production. I think it’s dangerous to go over that limit because once you have been working with steel, it’s very hard to come back to gold. And I think it’s my duty to create new watches in platinum, white gold, rose gold, because this is how Patek Philippe was built. If I was only making steel watches, it would be difficult for me to survive. It might be an easy way to sell watches when times are difficult, but I don’t like the easy way. We just created a beautiful perpetual calendar in platinum, and I think it’s going to be very successful. I think you will see a lot of young people wearing it.”

What Patek Philippe watches do your sons wear?

Patek Philippe Ref. 6119 Calatrava, with Clous de Paris bezel.

“I was 20 when I got my first Patek Philippe. I decided to change this rule by allowing my sons to have one at the age of 18. They have so much more information than I did at the time. They know much more the product, they are more involved, and Patek has also become bigger. They weren’t going to get a minute repeater or a $100,000 complication for their first one, so my first son chose an Aquanaut in white gold with a blue dial. He didn’t want a Nautilus. My second son chose a Black Panther from Audemars Piguet …. just kidding. He wanted the Singapore Aquanaut (5167A-012, with red strap, black dial) I said you can forget about it because it’s too late [sold]. So he got an Aquanaut in steel with a red bracelet. Now he wants a Calatrava manual wound in white gold for his next one. So you see, the younger generation doesn’t just go for steel.”

On his favorite new introduction this year:

“The perpetual calendar Ref. 5236P-001 is something very beautiful. I saw it in a pocket watch in the museum, and now we have done it on a wristwatch. It was also the dream of my dad [Philippe Stern]. He didn’t have time to do it, and to see it today is very satisfying for both generations. It’s a beautiful combination of the past and present, and a fantastic way to read a perpetual calendar.”

Patek Philippe Perpetual Calendar Ref. 5236P-001

“Will the Ref. 5236 come in a chronograph/perpetual calendar version? Honestly, we have our models planned until 2037 and, we have enough for now. So before 2037, I would say maybe not. Don’t forget, it would be quite thick if we added a chronograph, so … is it possible? – yes. Is it possible with the perfect design for Patek? I’m not sure.”