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Swiss watch family legend

Release date:2017-06-08

Swatch will be "Wumart" and "cheap" together to regain the Swiss mid-down watch market. Since then, Hayek once again to promote strategic transformation, in 1992 the acquisition of high-end brand Blancpain, in 1999 the acquisition of Breguet ... ...
In many luxury goods, watches and clocks with its unique temperament. Delicate pointer tick, day and night rotation, seemingly simple, behind it is a sophisticated, no difference in the instrument.

Switzerland, a commercial magazine recently launched the country watch rich list. People were able to glimpse, Patek Philippe, Vacheron Constantin, Breguet, Parma Johnny and other familiar watch behind the brand, those "Hou door like the sea," the legendary century watch family.

It turned out that the "giants" to take care of the watch empire, but also as a small watch, not only pay attention to the continuation of aristocratic descent, but also the pursuit of drastic innovation.

Stern family and Patek Philippe

  

At the 2008 Basel World Watch & Jewelery Fair in Switzerland, guests were surprised to find that two five-year-old boys appeared on the famous watch brand Patek Philippe's booth. Patek Philippe's future heirs will be among them, their father is the company's chief executive officer Terry Stern, Grandpa is the chairman of the board Philip Stern.

Patek Philippe, ranked first in the world watches classification, has a long history, superb technology. People say that no one can really have Patek Philippe, but only for the next generation to keep it.

It is worth mentioning that the Patek Philippe is the only family in Switzerland, the independent watch business, now to Terry Stern, has passed four generations, if the smooth spread to the fifth generation, will be the Swiss watch industry A myth.

In fact, there was a period of time, the family from generation to generation in the Swiss watch industry model is not uncommon. The last century 60's, Jaeger-LeCoultre, TAG Heuer, Earl and many other watch brands are created by the founding family.

"When I was a kid, there were a lot of family business in the Swiss watchmaking industry," said Philip Stern, "but they suddenly disappeared, almost at the same time, from 1975 to 1985.

During this period, the Swiss watch was challenged by the Japanese electronic quartz watch. Citizen, Casio, Seiko and other brands of low prices, travel time accurate, and soon seize the market, while the Swiss watch global market share from 43% to 15%.

"The family industry is getting fragile," said Philip, "they have no intention and no money to promote innovation, so, by many powerful companies to buy, leading to the watch industry is now very rare family business."

However, in the stormy and difficult times, Patek Philippe persevered down.

The fate of the Stern family and Patek Philippe began in the early twentieth century. At that time, Charles Stern and Jean Stern brothers in Geneva to run a factory for Patek Philippe production dial. In 1932, and a lot of tabulation companies at the same time, Patek Philippe due to lack of funds in trouble, Stern brothers come to solve difficulties, and won the majority of Patek Philippe stake.

After the Stern family drastically reform Patek Philippe, one is to hire a professional management team to take care of corporate affairs, the second is to rely on product development semi-finished products to their own production, reduce the dependence on the outside world.

Patek Philippe under the Stern family governance under the new life, and maintained a solid "rivers and lakes status." In the recently launched watch family richest list, the Stern family ranked sixth.

Stern family is how to do it from generation to generation, the myth for 80 years? The answer is to let the successor from the grassroots level, steadily, with their own talent and qualifications, as the company's top managers. Family second generation head Henry Henry Stern initially worked in the dial factory, and later also learned to carve. And Philip himself before taking over the company, also went to the United States to learn tabulation.

Talking about the future of Patek Philippe, Philip said that he had four grandchildren, and that the future helm would be one of them, "the children sometimes come to the company and accept the influence from time to time to achieve the best results."


Hayek and Swatch Group

In June 2010, an 82-year-old man died of heart disease in his office in Berne, Switzerland. The old man left the whole watch industry regret, because he was once saved the Swiss watch industry Swatch (Swatch) group founder Nicholas Hayek.

Hayek was born in Lebanon in 1928, grew up and moved to Zurich, Switzerland. He pawned his own furniture, from the bank loan of 4000 Swiss francs, founded a engineering consultancy company, earned the first pot of gold in life.

The seventies and eighties of last century, the Swiss watch industry into a crisis, the number of employment dropped from 90,000 to 30,000, the situation is precarious. Hayek conducted a corporate restructuring, the largest in Switzerland is also the world's third watch company SSIH and the world's largest watch parts manufacturer ASU AG merger. He bought the majority of the company's shares in 1985, personally as CEO, and renamed the company Swatch Group.

Hayek is more aware of the Swiss watch short board: Swiss mechanical watch table to exquisite, complex, high quality known, and the Japanese electronic form cheap, simple, no need to winding and travel time accurate. Therefore, Hayek strategically launched the Swatch watch, this move on the revival of the Swiss watch industry played a decisive role.

And those heavy, on behalf of the wealth and authority of the traditional watches are different, Swatch watch simple, beautiful, lightweight, style changeable, bright colors, won the young girls love. In addition, the Swatch Group also made plastic dial and strap, which in the past is simply can not imagine.

Hayek also promoted the tabulation technology innovation. The number of traditional watch parts is about 90, and Swatch watch the number of parts only 51, which not only reduces the weight of the watch itself, but also significant savings in cost.

In addition, different clothing with different Swatch watches, which is Hayeke implementation of the concept. Swatch every year to update the watch style, invite famous artists to do design, and strive to walk in the forefront of fashion trends.

Swatch will be "Wumart" and "cheap" together to regain the Swiss mid-down watch market. Since then, Hayek once again to promote strategic transformation, in 1992 the acquisition of high-end brand Blancpain, in 1999 acquired Breguet ... ... Now, Swatch Group has developed into one of the world's largest watch company, in addition to middle and low Woqi watch, also has Blancpain, Breguet, Omega and other high-end brands, as well as radar, Longines and Tissot and other mid-range brands, as a powerful watch "kingdom."

At the same time, the Hayek family also completed the old and new. Hayek in 2002 to the chief executive officer of the duties to his son Little Nicholas, his daughter Naira is also a member of the board of directors.

Now, the Hayek family is Switzerland's famous family, ranked third in the richest list, and "Harvard Business Review" magazine praised him as "genius business celebrity."


"Samson" family foundation with Parmigiani

In the recently launched Swiss watch family richest list, the Randall family with the "Santos" Foundation's top strength topped the list.

Founded in 1964 by the painter and sculptor Edward Santo, the "Samson" family foundation has now become a prestigious equity investment agency in Switzerland, and Novartis and Hermes are two of its holdings.

How does the Santos Foundation contact the watch? This must be talked about the Swiss top watch brand Parma Johnny's founder Michelle Parmigiani. Michelle in 1976 in Flemish, Switzerland founded his own watchmaking studio, for the big brands to provide independent design, but also for the love of "play table" Regal to provide antique table maintenance services, thus, met the senior "players "," Santos "Foundation fourth generation head Pierre Landot.

Subsequently, the Swiss watch the "darkness" came, when Michelle's self-confidence was hit, the old Guolanduo Te to him to lend a helping hand. In 1996, the "Santos" Foundation decided to finance the creation of independent watch brand Michelle. Subsequently, Parmigiani turned out, and in just a few years among the world's top watches, Randolph himself personally served as vice president of Parma Johnny.

Even, Michelle and Randall's powerful combination, but also created a watch city. Since the rise of Parma Johnny, many watches and famous brands also moved to Fleurie. In addition, with the support of the Randolph and the Santos Foundation, Parmes Johnny has acquired a number of watchmaker manufacturers in the Fleurier region, including manufacturing fleet parts, micro parts factories, and Case manufacturer.

At the same time, Fleurier and its surrounding area formed a complete tabulation distribution center, including 450 skilled workers, 50 parts and production parts category, four production bases, at the same time, the region also formed a unique watch culture.

It is worth mentioning that, Parma Johnny is not only a top watch brand, but also a well-deserved antique table repair leader. In Parma Johnny's high-level watch factory, specifically with a repair antique collection table of the workshop.

In the view of Michelle, antique table repair is absolutely not hasty, because this work is reflected in a list of historical and predecessors respect for labor, "maintenance antique table, not only to let it run again, but also to understand The old generation of artisans when making ideas and practices. "

Of course, the antique table maintenance investment is huge, Parma Johnny can be so strong in this area, "Santos" Foundation contributed.

It is these rich family, supporting the Swiss watch industry heritage and Everbright. It is by virtue of watches and clocks, medicine, machinery, food and other major industries, Switzerland, the population of 8 million people in the economic scale of Europe ranked sixth.