Today, Salanitro SA has just announced that Patek Philippe has acquired a stake in its capital. The amount of the investment and the size of the stake were not disclosed. This entry into the capital of the gem-setting company materializes the coming together of two independent Geneva-based family businesses. If Patek Philippe requires little introduction, Salanitro SA is an institution in the Swiss watch industry, being the most prominent player in the jewellery and gem-setting activities for Swiss Haute Horlogerie. Founded in 1990, Salanitro SA counts no fewer than 230 employees.
The operation is obviously an opportunity to strengthen the ties between the two companies. For Salanitro SA, it is also a way to secure the company’s future with the backup of Patek Philippe, all the more as the children of Pierre Salanitro have no intention to get involved in the family business management.
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.“