Why Patek Philippe Purchased Salanitro SA, Swiss Jewellery And Gem-Surroundings Corporate

As we input 2023, it’s a good time to take a better take a look at one of the vital information that got here out in fall of ultimate 12 months that can have long gone left out to the watch-loving global, and likewise at how that information would possibly affect the watch {industry}. One such tournament is the acquisition through unbiased, circle of relatives owned Patek Philippe – a legend within the watch global – of a stake in Swiss jewellery and gem-setting corporation Salanitro SA.

Based in 1990 through Pierre Salanitro – who stays the logo’s president and CEO – the corporate started as a jewellery area and briefly changed into one of the vital extra vital Geneva-based gem-setting homes for haute horology. Salanitro is a grasp relating to gem atmosphere and nowadays employs greater than 230 artisans and again up body of workers. From inventive designs to prototyping, production of circumstances and bracelets for the watch global, Salanitro is, initially, a professional in atmosphere diamonds and valuable stones.

Then again, Pierre Salanitro’s 3 kids have stated they don’t seem to be excited by operating the circle of relatives industry. This brought about a collective watch-industry gasp. Salanitro is understood for its cutting edge settings and its recognize for the craft of gem atmosphere and jewellery making. Lately, greater than 80 prestigious Swiss manufacturers flip to Salanitro for gem atmosphere.

The verdict through Patek Philippe to put money into a stake in capital of Salanitro used to be predominantly about making sure that the logo, and the shoppers it products and services, continues for the long run.

In step with Thierry Stern, CEO of Patek Philippe, “We consider that this can be a nice alternative to give a contribution to securing the longer term in addition to the continuity of a Geneva-based circle of relatives industry to which we’re shut, and with which we proportion the similar values of excellence, independence and circle of relatives spirit. We’re thrilled to additional give a boost to our ties with Pierre Salanitro. His well-run industry is preferably located to keep growing and increase its manufacturing capability within the jewellery watch phase, which gives vital doable for building.”

Each Patek Philippe and Salanitro are circle of relatives owned, and each proportion equivalent values relating to high quality, technological developments, unique craftsmanship and safeguarding the longer term. Each additionally attempt to scale back their carbon footprints and to provide transparency. In reality, simply 4 years in the past in 2019, Salanitro SA used to be qualified through each the Accountable Jewelry Council (RJC) with two world certifications: “Chain of Custody” and “Code of Observe.”

The funding through Patek Philippe right into a stake in Salanitro guarantees watch manufacturers received’t must scramble to seek out exchange corporations for his or her valuable prime jeweled watches.