CrimeApr 24, 2024
Jewelry Crime Declines Significantly, But Dollar Losses Remain High A double-digit drop in the number of in-store crimes was offset by a jump in off-premises attacks, JSA’s 2023 crime report shows.
WatchesJun 23, 2020
Patek Philippe Finishes $600M Production Facility
The watchmaker created a limited-edition stainless steel Calatrava to mark the occasion.
A shot of the interior of Patek Philippe’s recently completed production facility in Plan-les-Ouates, Switzerland
Geneva—Patek Philippe has finished construction on its new production facility in the Geneva suburbs and released a limited-edition Calatrava to commemorate the occasion.
An expansion of the facility constructed in Plan-les-Ouates, Switzerland in 1996 under then-President Philippe Stern, the 10-floor, 1.4-million-square-foot addition took five years to build and cost the company about $600 million.
When the watchmaker moved to Plan-les-Ouates, the idea was to consolidate all of Patek Philippe’s functions under one roof but the facility was not big enough to keep pace with the company’s growth.
In 2003, Patek Philippe had to move its gem-setting and watch case and bracelet production functions to Perly, another Geneva suburb.
Six years later, under Thierry Stern, Philippe’s son and successor, the company converted an existing office building into an atelier complex where it produces all its movements.
It also bought land to expand its facility in Plan-les-Ouates, with two goals: bring the employees working in Perly to the Plan-les-Ouates facility and leave room to grow.
Patek Philippe made only 1,000 of the new Ref. 6007A-001 Calatrava with sweep seconds and dates in a 40 mm stainless steel case.
The watch’s sapphire crystal caseback is inscribed with the Calatrava cross and “New Manufacture 2019.” It retails for $28,351.
Patek Philippe said it isn’t looking to produce more watches—current production stands at 62,000 models per year—but noted it’s producing a higher volume of its more complicated watches, which necessitates a need for more components per watch.
The new facility sits on what was once an employee parking lot, with Patek moving parking to a 635-space lot underneath the building.
The ground and first floors house production and manual finishing of movement parts, while machining, manual polishing, gem-setting and the assembly of cases and bracelets take place on the second floor, as does antique timepiece restoration. These ateliers also make spare parts for customer service.
Research and development and a new unit for prototyping operations are on the third floor.
The fourth floor has space for those who specialize in manual engraving, enameling, guilloche, wood micro-marquetry, etc., a 299-seat auditorium and training rooms for watchmakers and salespeople.
A restaurant for 880 guests and four VIP lounges crown the building, all with a panoramic view of the landscape and nearby Swiss mountains.
There is also a “generous” amount of extra space for growth.
Patek
said it added a couple touches meant to echo its watches—slightly curved hallways that mimic the soft octagon case of the Nautilus, for example, and balustrades with silhouettes that resemble the leaf-shaped hands on some of its models.
The company moved the production of caliber components, which was taking place in an adjacent office building that is now going to be razed, into the building in July 2019.
The Perly operations moved into the new facility in February.
The company moved the production of caliber components, which was taking place in an adjacent office building that is now going to be razed, into the building in July 2019.
The Perly operations moved into the new facility in February.
More on Watches
The Latest
Events & AwardsApr 24, 2024
JCK Industry Fund Announces 2024 Grant RecipientsThe selected nine organizations have outlined their plans for the funds.
ColumnistsApr 23, 2024
The Smart Lab: Advanced Email Marketing Strategies for Mother’s DayEmmanuel Raheb recommends digging into demographic data, customizing your store’s communications, and retargeting ahead of May 12.
Brought to you by
The Blueprint for Success in Scalable, Personalized Jewelry RetailWith Ho Brothers, you can unlock your brand's true potential and offer customers the personalized jewelry experiences they desire.
IndependentsApr 23, 2024
Hannoush Jewelers Opens New Store in New York Located in the town of Queensbury, it features a dedicated bridal section and a Gabriel & Co. store-in-store.
Weekly QuizApr 19, 2024
This Week’s QuizTest your jewelry news knowledge by answering these seven questions.
SourcingApr 23, 2024
Rio Tinto’s Q1 Production Drops Amid Pause to Honor Lost Colleagues The mining company’s Diavik Diamond Mine lost four employees in a plane crash in January.
SourcingApr 23, 2024
Lucapa Sells 3 Diamonds for $10.5M in First Lulo Tender of 2024A 203-carat diamond from the alluvial mine in Angola achieved the highest price.
Brought to you by
How Jewelers of America Represents Your BusinessFor over 30 years, JA has advocated for the industry, fought against harmful legislation and backed measures that help jewelry businesses.
GradingApr 23, 2024
GIA Has a New Book About William RuserRuser was known for his figural jewelry with freshwater pearls and for his celebrity clientele.
CollectionsApr 22, 2024
Jacquie Aiche’s New Campaign Stars Adam Levine, Behati PrinslooThe “Rebel Heart” campaign embodies rebellion, romance, and sensuality, the brand said.
EditorsApr 22, 2024
The 22 Best Quotes from AGS Conclave 2024 Editor-in-Chief Michelle Graff shares the standout moments from the education sessions she attended in Austin last week.
SourcingApr 22, 2024
Virtual Diamond Boutique Rebrands as ‘VDB’The overhaul includes a new logo and enhanced digital marketplace.
MajorsApr 22, 2024
Signet Raises Nearly $9M for St. Jude Children’s Research HospitalThe money will go toward supporting ongoing research and aftercare programs for childhood cancer survivors.
CollectionsApr 19, 2024
Piece of the Week: Retrouvaí’s Treasure NecklaceA new addition to the “Heirloom” collection, this one-of-a-kind piece features 32 custom-cut gemstones.
CrimeApr 19, 2024
Grand Jury to Hear Case Against Jeweler Charged in Fatal Shove Following IJO ShowLast month in Dallas, David Walton pushed another jeweler, David Ettinger, who later died.
MajorsApr 19, 2024
Unique Designs Acquires China PearlThe move will allow the manufacturing company to offer a more “diverse and comprehensive” range of products.
GradingApr 19, 2024
AGS Ideal Report Now Available in Printed FormFrom now through mid-May, GIA will be offering the reports at a 50 percent discount.
SourcingApr 18, 2024
Diamond Trade Remains Cautious Amid Economic UncertaintyDe Beers’ rough diamond sales were down 18 percent year-over-year in its latest round of sales.
Supplier BulletinApr 18, 2024
Discover History’s Hidden Gems at the Las Vegas Antique Jewelry & Watch ShowSponsored by the Las Vegas Antique Jewelry & Watch Show
Policies & IssuesApr 17, 2024
NDC Prevails in U.K. Case Over Lab-Grown Diamond AdvertisingNDC filed a complaint against Skydiamond for use of phrases like “diamonds made entirely from the sky.”
Events & AwardsApr 17, 2024
And the 2024 Winner of the Shipley Award Is … John Carter received the AGS’s highest honor Tuesday afternoon at Conclave in Austin, Texas.
FinancialsApr 17, 2024
LVMH’s Q1 Jewelry Sales Fall 5%LVMH said the company performed well despite an uncertain geopolitical and economic environment.
MajorsApr 17, 2024
Stuller’s B&D Opens New HeadquartersB&D Sales and Service held a ribbon-cutting event for its new location in Cranston, Rhode Island.
CollectionsApr 16, 2024
Akaila Reid Launches ‘Eat Cake’ CollectionIt’s ultra-feminine and filled with gold, pearls, and soft pastels.
MajorsApr 16, 2024
Loudr Adds 2 DirectorsEmily Highet Morgan and Emily Bennett have joined the agency’s team.
MajorsApr 16, 2024
Stuller Releases First Lab-Grown Diamond Jewelry CatalogIts updated book for mountings is also now available.
SourcingApr 16, 2024
Karen Rentmeesters Takes Over as Interim CEO of AWDCShe has been with the organization since 2010, most recently serving as its chief officer of PR and industry relations.
