Tiffany Under Fire for "Bundling" Patek Philippe Watch
July 28, 25
(IDEX Online) - Tiffany & Co is facing a backlash from some of its wealthiest clientele who weren't able to get their hands on a limited-edition Patek Philippe watch.
The iconic jeweler and watchmaker collaborated on a special edition of the Patek Philippe Nautilus 5711 watch, with a dial in Tiffany's trademark robin's-egg blue (Ref. 5711/1A-018) priced at $52,635.
Only 170 were made, marking 170 years of partnership between the companies in December 2021.
Potential customers were reportedly encouraged to spend $2m to $3m on unrelated items for the chance to join a VIP list to purchase the watch, without any guarantee of receiving one.
It's a practice called "bundling" - making luxury items available only to those making significant unrelated purchases.
According to trade websites, some resorted to legal action or boycotted Tiffany.
Patek Philippe has, according to FashionNetwork.com, long discouraged bundling.
The Patek Philippe Nautilus 5711/1A-018 "Tiffany Blue" has sold at auction for many times its original price - fetching over $6.5m at Phillips New York in December 2021.