Patek Philippe Chief Says China Overinvestment Is a Mistake

Patek Philippe SA Chairman Thierry Stern said Swiss watchmakers that concentrate investment in China are making a mistake as the market will eventually slow.

“I’m not putting all my eggs in the same basket,” Stern said in an interview at the world’s largest watch fair in Basel, Switzerland, yesterday. “It’s a big mistake I think that a few brands are doing by going only in China. They focus everything on China and it’s dangerous.”