( CNN ) -- The tick of a clock may be his business but Thierry Stern , boss of Patek Philippe , is happy to take his time ensuring the luxury watchmaker sticks to its traditional values . Stern told CNN the Swiss company is not subject to shareholders demanding short-term results , and could therefore make decisions to benefit the company and its existing clients without facing time pressures . Watch more : Luxury goods snub slowdown . `` It really allows me to do whatever I believe is right , '' Stern told CNN 's Nina dos Santos . Patek Phillippe -- founded in 1839 by two Polish immigrants and bought by the Stern family in 1832 -- produces around 50,000 watches a year . Read more : Is Europe facing slow decay ? Unlike its competitors , Stern said the independent watch maker has resisted the temptation to open up `` massively '' in China because he believed it would damage the company 's integrity . Stern said : `` If I try to get the watches from Europe to China for example , I would put myself in trouble ... I would lose my client and my credibility . '' Read more : UK tax no small beer for London brewer . Despite building the Patek Philippe brand in the Far East , tradition and customer loyalty are of paramount importance to the success of the Geneva-based company . Stern said : `` You can sell to Chinese , I do n't mind , but please keep the right pieces for the people coming every year . '' And Stern said reliability and a local clientele is part of the reason Patek Philippe has not fallen victim to the problems plaguing the single currency euro area . Read more : GE Europe chief eyes investment in Germany . Stern said : `` Today you need to evolve otherwise you die and the watchmakers , they have to evolve . '' A Patek Philippe time piece commands a high price and usually increases in value with age , making the luxurious watches an alternative investment to other more volatile assets such as stocks or bonds .
Patek Phillippe -- founded in 1839 and bought by the Stern family in 1832 -- produces around 50,000 watches a year . A Patek Philippe time piece commands a high price and usually increases in value with age . The watch is also known for its distinctive design, which has been copied many times over since it was first introduced to the public in 1837.