According to Neue Zürcher Zeitung, the store will close at the end of 2026 after 266 years of operation. Patek Philippe will establish its showroom in this location.
Swiss newspaper Neue Zürcher Zeitung reports that Patek Philippe has acquired the premises of watch retailer Beyer Chronometrie. The location in question is a building on the famous Bahnhofstrasse 31 in Zurich.
Beyer Chronometrie, the oldest watch retailer in the world, has been selling Patek Philippe watches since 1842. After the death of René Beyer last year, management of the company passed to his sister, Muriel Zan-Beyer. Since neither René nor Muriel had heirs, rumors quickly spread in the media about the imminent sale of the retailer. Given Beyer Chronometrie's long-standing partnership with Patek Philippe, the company was considered a strong candidate for the purchase.
In comments to Neue Zürcher Zeitung, Muriel Zan-Beyer stated that Patek Philippe had acquired a minority stake in Beyer as early as 2024. The current deal not only involves acquisition but also the closure of the company. Patek Philippe plans to close the store and reopen it as a large brand salon, thus concluding the 266-year history of the world's oldest watch retailer. This salon will become Patek Philippe's fourth after similar salons in Geneva, London, and Paris.
It is reported that about two-thirds of Beyer Chronometrie employees will lose their jobs. However, the announcement made nine months before the company's closure will give them time to find new employment. The Beyer-owned watch museum was not part of the deal and is planned to be moved to another location in Zurich.