As we enter 2023, it’s a good time to take a better take a look at a number of the information that got here out in fall of final yr that will have gone unnoticed to the watch-loving world, and likewise at how that information would possibly affect the watch {industry}. One such occasion is the acquisition by unbiased, household owned Patek Philippe – a legend within the watch world – of a stake in Swiss jewellery and gem-setting firm Salanitro SA.

Based in 1990 by Pierre Salanitro – who stays the model’s president and CEO – the corporate started as a jewellery home and rapidly grew to become one of many extra necessary Geneva-based gem-setting homes for haute horology. Salanitro is a grasp in the case of gem setting and at the moment employs greater than 230 artisans and again up personnel. From inventive designs to prototyping, manufacturing of circumstances and bracelets for the watch world, Salanitro is, before everything, an skilled in setting diamonds and valuable stones.

Nonetheless, Pierre Salanitro’s three kids have stated they don’t seem to be desirous about operating the household enterprise. This brought on a collective watch-industry gasp. Salanitro is understood for its progressive settings and its respect for the craft of gem setting and jewellery making. Right this moment, greater than 80 prestigious Swiss manufacturers flip to Salanitro for gem setting.

The choice by Patek Philippe to put money into a stake in capital of Salanitro was predominantly about making certain that the model, and the purchasers it providers, continues for the long run.

In line with Thierry Stern, CEO of Patek Philippe, “We consider that it is a nice alternative to contribute to securing the longer term in addition to the continuity of a Geneva-based household enterprise to which we’re shut, and with which we share the identical values of excellence, independence and household spirit. We’re delighted to additional strengthen our ties with Pierre Salanitro. His well-run enterprise is ideally positioned to proceed to develop and develop its manufacturing capability within the jewellery watch phase, which presents important potential for improvement.”

Each Patek Philippe and Salanitro are household owned, and each share related values in the case of high quality, technological developments, authentic craftsmanship and safeguarding the longer term. Each additionally try to scale back their carbon footprints and to supply transparency. Actually, simply 4 years in the past in 2019, Salanitro SA was licensed by each the Accountable Jewelry Council (RJC) with two worldwide certifications: “Chain of Custody” and “Code of Observe.”

The funding by Patek Philippe right into a stake in Salanitro ensures watch manufacturers received’t should scramble to seek out alternate corporations for his or her valuable excessive jeweled watches.