The canton of Geneva, where Patek headquarters are located,

Patek Philippe committed to independence ‘for next 25 years’

GENEVA (Reuters) Patek Philippe, celebrating its 175th anniversary Canada Goose Coats On Sale and one canada goose outlet vancouver of Switzerland last family owned canada goose clearance sale watch buy canada goose jacket cheap brands, vowed to defy a wave of consolidation to stay independent for least another 25 Canada Goose Parka years

Thierry Stern, Chairman of watchmaker Patek Philippe, pauses during an interview with Reuters canada goose outlet toronto factory in Plan les Ouates near Geneva October 13, 2014.

Kering snapped up Patek Philippe smaller rival Ulysse Nardin in July. Only a handful of buy canada goose jacket more sizeable independent companies remain, among them Rolex, Chopard, canada goose deals Audemars Canada Goose Outlet Piguet and Patek canada goose coats Philippe.

made all the arrangements arconserve to make sure Patek Philippe stays independent for at least another 25 years, Honorary Chairman Philippe Stern told 300 guests at an anniversary party at the company headquarters in Geneva on Monday night.

His canadian goose jacket son, Thierry, the current chairman, added: hopefully for much longer.

The company traces its roots to Polish canada goose watchmaker 2018 canada goose outlet Antoine canada goose black friday sale Norbert de Patek who set up his workshop in Geneva canada goose replica in 1839. It is known Canada Goose sale for highly technical and elegant watches, costing up Canada Goose online to millions of dollars for the rarest pieces.

TAX FEARS On Monday night, the brand unveiled a special anniversary edition, the Grandmaster Chime, a double face wristwatch with five chiming functions.

Analysts estimate Patek Philippe annual brand sales at around 1 billion Swiss francs (659,733 million pounds).

Thierry Stern said in an interview with Reuters on Monday that sales this year would canada goose coats on sale be similar to last year, or slightly higher.

He also aired his concern over tax rates. The canton of Geneva, where Patek headquarters are located, canada goose outlet store locations has some of the highest tax rates in the country.

have built financial reserves to save Patek Canada Goose Online when times get really tough. We Canada Goose Jackets cannot afford to pay always more and more (taxes), Stern said.

In a newspaper interview a few months ago, Stern had threatened the group might have to canada goose clearance leave Geneva if the tax burden continued to increase.

was a warning shot. We a big company owned by a single shareholder and we wanted politicians to be aware of the risks, he cheap Canada Goose said.

He said he didn believe strict quotas for cross border commuters part of a package of measures to be implemented after February popular vote to curb immigration would ever see the light canada goose store of day.

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