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Patek Philippe & Co. is one of the most famous and exclusive brands of wristwatches in the world. Patek Philippe is currently owned by the Stern family.
Antoine Patek started making pocket watches in 1839 in Geneva, along with fellow Polish migrant Francois Czapek. They separated in 1844. In 1845, Patek joined with the French watchmaker Adrien Philippe, inventor of the keyless winding mechanism. In 1851, Patek Philippe & Co was born.
In 1868, Patek Philippe made the first wristwatch in history. They have also pioneered in perpetual calendar, chronograph and minute repeater in watches. Patek Philippe has produced quartz watches, but have never produced watches with digital displays.
Patek is the maker of the most complicated mechanical watch ever made, the Calibre 89, created for the 150th anniversary of the company in 1989. It holds 33 complications, including the date of Easter, a thermometre, time of sunrise, equation of time, sideral time,... [1] (http://marina.fortunecity.com/westindia/59/ppc89.htm)
Because of its exclusivity, luxury tag, low volume production and cost, Patek Philippe lost the market and lost much of its business. The Stern family took over the firm in 1929.
Patek Philippe produces many collectible watches, and is still a coveted luxury brand.
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