The Geneva-based jewellery design and gem-setting firm Salanitro SA has announced that Patek Philippe SA has acquired a stake in its capital. Much more than a partnership, this acquisition of a stake in the company symbolises the coming together of two independent Geneva-based family businesses.
Salanitro SA, the Swiss leader in jewellery creation and stone setting in the world of Haute Horlogerie, has been based in Geneva since its creation more than thirty years ago; and as a firm that works for the most prestigious brands, Salanitro has always favoured creativity, innovation, quality and craftsmanship, respect for tradition, service and a sense of responsibility towards its customers, as well as independence and a family spirit.
These are all values shared with Patek Philippe, whose objective is not only to engage with Salanitro SA as a partner for the long term, but above all to support and safeguard the company’s future, so that it may forge ahead with confidence and continuity, beyond generations.
Thierry Stern commented: “We believe that this is a great opportunity to contribute to securing the future as well as the continuity of a Geneva-based family business to which we are close, and with which we share the same values of excellence, independence and family spirit. We are delighted to further strengthen our ties with Pierre Salanitro. His well-run business is ideally positioned to continue to grow and develop its production capacity in the jewellery watch segment, which offers significant potential for development.”
Pierre Salanitro added: “I am very proud and delighted that Patek Philippe has acquired a stake in my company. Patek Philippe is an emblematic Manufacture that represents the ideal partner for securing the firm’s future. I have great confidence in Thierry Stern and his team to continue our activities and guarantee jobs beyond generations.”
While Patek Philippe has always sought out the best partners in their field, the creative passion for watchmaking and the long-standing friendship and trust between Pierre Salanitro and Thierry Stern, as well as their children, played an important role in bringing the two companies together.
Still at the helm of the company, retaining his position as President and CEO of Salanitro SA, Pierre Salanitro – now 56 years old – took into account the desire of his three children not to become involved in the firm’s management. The acquisition thus represents a guarantee for Pierre Salanitro to ensure that all that has been built up will continue for the long term, and that the firm’s clients will continue to benefit from exceptional service at the highest levels.