Patek Philippe has unveiled its first new watch collection in 25 years, named Cubitus, targeting a trendy urban clientele amidst a downturn in the luxury watch industry. Featuring a distinctive square shape with rounded corners, the sporty design caters to the rising demand for shaped models and highlights the popularity of luxury steel watches with integrated bracelets.
The launch comes as Swiss watch exports saw a 12.4 percent decline in September, marking the worst monthly performance this year, according to the Federation of the Swiss Watch Industry. Patek Philippe, regarded as a bellwether for the sector, remains independent and does not disclose annual financial performance, though it ranks as the fifth largest Swiss watchmaker with an annual revenue of SFr2.1 billion ($2.4 billion).
Aurel Bacs, senior consultant for Phillips auction house, noted, “Patek is the gold standard of the high-end complication mechanical watch industry.” He emphasized the significance of the new collection, likening its impact to that of a major car manufacturer launching a new model.
The Cubitus line was launched at Munich’s Bergson, an avant-garde cultural venue. Just before the official reveal, images of the new watches leaked online, prompting disappointment from Patek Philippe President Thierry Stern.
The collection includes three models: the platinum Reference 5822P, featuring a large-format date, moon phase, and day of the week with six pending patents; the vintage-styled Ref 5821/1AR in steel and rose gold; and the all-steel 5821/1A. Prices range from £35,330 to £75,690.
Stern highlighted that the Cubitus collection introduces a luxury sports watch with a strong design in a market dominated by round timepieces, paving the way for future model expansions.
Related Topics:
