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Bloomberg
Patek Philippe, the closely held maker of $10,000-plus Calatrava watches, may be coming up for sale, according to analysts at Berenberg who cited industry talk.
The 180-year-old Swiss watchmaker could fetch 7 billion to 9 billion euros ($8 billion to $10 billion), analysts led by Zuzanna Pusz wrote in a note. Patek Philippe has been owned by the Stern family for almost a century, and Thierry Stern became the company’s chairman in 2009.
“It was interesting to hear in the corridors of the Geneva watch salon that a potential sale of the high-end watch brand Patek Philippe could be approaching soon,†the analysts wrote, noting that it could be just a rumour.
A Patek spokeswoman declined to comment except to say deal speculation tends to occur during the annual watch fairs in Switzerland, including last week’s Geneva show.